Fanbase
Subscription Social Media
Overview
Raised: $2,479,094
Total Commitments ($USD)
Platform
StartEngine
Start Date
09/23/2022
Close Date
02/21/2023
Min. Goal
$9,997
Max. Goal
$2,510,043
Min. Investment
$245
Security Type
Equity - Common
Series
Seed
Funding Type
RegCF
Price Per Share
$3.95
Pre-Money Valuation
$84,926,904
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/01/2023
Days Remaining
20
% of Min. Goal
24,797%
% of Max. Goal
99%
Likelihood of Max
Avg. Daily Raise
$18,924
# of Investors
3,338
Momentum
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Location
Atlanta, Georgia
Industry
Consumer Products, Goods & Services
Tech Sector
MediaTech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Fanbase, with a valuation of $84.9 million, is raising funds on StartEngine. It is a subscription-based social media network that allows users to monetize their content and earn. The users can either grow organically for free or pay for a subscription to exclusive content. Fanbase is building a new ecosystem and combining social network and monetization platforms. The subscription revenue of the business went up 164% over the past 12 months, and Android MRR grew by 35% since its launch in July 2021. Isaac Hayes III founded Fanbase in October 2019. The current crowdfunding campaign has a minimum target of $9,997.45 and a maximum target of $2,510,043.30. The campaign proceeds will be used for growth and expansion.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$161,696 |
$13,777 |
|
COGS |
$180,464 |
$14,022 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,922,257 |
$-200,442 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$718,334 |
$696,650 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$853,320 |
$696,650 |
|
Short-Term Debt |
$135,012 |
$286,140 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$135,012 |
$286,140 |
Financials as of: 09/23/2022
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Fanbase | 02/21/2023 | StartEngine | $84,926,904 | $2,479,094 | Equity - Common | Active | RegCF |
| Fanbase | 04/29/2022 | StartEngine | $50,000,000 | $2,599,944 | Equity - Common | Funded | RegCF |
| Fanbase | 06/27/2021 | StartEngine | $20,000,000 | $3,495,066 | Equity - Common | Funded | RegCF |
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