Fanbase

Fanbase

Growth Stage

Subscription Social Media

Subscription Social Media

Overview

Raised to Date: Raised: $4,149,191

Total Commitments ($USD)

Platform

StartEngine

Start Date

09/23/2022

Close Date

11/06/2023

Min. Goal
$9,997
Max. Goal
$4,999,989
Min. Investment

$245

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$3.95

Pre-Money Valuation

$84,926,904

Rolling Commitments ($USD)

Status

Active

Reporting Date

10/02/2023

Days Remaining

35

% of Min. Goal

41,503%

% of Max. Goal

83%

Likelihood of Max
unlikely
Avg. Daily Raise

$11,094

# of Investors

5,523

Momentum
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Year Founded

2019

Industry

Consumer Products, Goods & Services

Tech Sector

MediaTech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

Atlanta, Georgia

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

FY 2022 FY 2021

Revenue

$134,898

$161,696

COGS

$326,803

$296,884

Tax

$797

$0

 

 

Net Income

$-2,919,450

$-2,038,677

Summary Balance Sheet

FY 2022 FY 2021

Cash

$1,213,731

$718,334

Accounts Receivable

$0

$0

Total Assets

$1,587,997

$853,320

Short-Term Debt

$434,774

$251,432

Long-Term Debt

$43,623

$0

Total Liabilities

$478,397

$251,432

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 11/06/2023 StartEngine $84,926,904 $4,149,191 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
Platform: StartEngine
Security Type: Equity - Common
Valuation: $84,926,904
Price per Share: $3.95

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