Fanbase

Growth Stage

Subscription Social Media

Overview

Raised to Date: 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
extremely
Avg. Daily Raise

$18,924

# of Investors

3,338

Momentum
cold.svg
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Location

Atlanta, Georgia

Industry

Consumer Products, Goods & Services

Tech Sector

MediaTech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Business Type

High Growth

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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Fanbase on StartEngine 2022
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Platform: StartEngine
Security Type: Equity - Common
Valuation: $84,926,904
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