hobbyDB

hobbyDB

Early Stage

Built and Owned by Collectors like you

Built and Owned by Collectors like you

Overview

Raised this Round: Raised: $119,927

Total Commitments ($USD)

Platform

Wefunder

Start Date

11/30/2023

Close Date

06/21/2024

Min. Goal
$20,000
Max. Goal
$529,000
Min. Investment

$100

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.12

Pre-Money Valuation

$18,798,145

Year Founded

2013

Industry

Arts & Crafts

Tech Sector

MarketplaceTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Superior, Colorado

Business Type

Growth

hobbyDB, with a valuation of $18.8 million, is raising funds on Wefunder. It is a free resource for the collecting community, built by collectors for collectors. hobbyDB’s database allows collectors to explore, track, and organize their collections and keep track of how much the collection is worth using the price tracker. hobbyDB has 650,000 users with collections worth $5.7 billion, and the app has had over 350,000 downloads. Christian Braun founded hobbyDB in October 2013. The current crowdfunding campaign has a minimum target of $19,999 and a maximum target of $528,999. The campaign proceeds will be used to finance the company’s operations, add more data to the site, implement the UX design, and build image recognition.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$698,844

$467,776

COGS

$80,268

$57,998

Tax

$3,521

$499

 

 

Net Income

$-101,156

$-259,925

Summary Balance Sheet

FY 2023 FY 2022

Cash

$49,622

$45,261

Accounts Receivable

$130,011

$40,330

Total Assets

$322,702

$240,657

Short-Term Debt

$273,678

$250,252

Long-Term Debt

$95,731

$19,951

Total Liabilities

$369,409

$270,203

Financials as of: 11/30/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
hobbyDB 06/20/2024 Wefunder $18,798,145 $119,927 Equity - Preferred Funded RegCF
hobbyDB 04/29/2023 Wefunder $16,425,000 $87,957 Equity - Preferred Funded RegCF
hobbyDB 04/21/2022 Wefunder $14,505,811 $137,578 Equity - Preferred Funded RegCF
hobbyDB 12/27/2020 Wefunder $11,000,000 $107,110 Equity - Preferred Funded RegCF
hobbyDB 04/16/2020 Wefunder $17,600,000 $274,333 Equity - Preferred Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Synopsis

Collecting is a beloved hobby for many, whether it's stamps, coins, action figures, or rare books. However, managing a growing collection can be challenging. It's not always easy to keep track of what you have, what it's worth, or where to find the items you're missing. That's where hobbyDB comes in.

hobbyDB is a free online resource built by collectors for collectors. It provides a powerful and detailed database of collectibles, complete with a price guide. Collectors can use hobbyDB to explore any fandom, track their collections, and even use the platform's secure marketplace to safely buy and sell items. This makes it easier for collectors to manage their collections and engage with their hobbies.

With 650,000 users and collections worth $5.7 billion, hobbyDB has already significantly impacted the world of collecting. The platform's success so far suggests a strong demand for this kind of service among collectors.

With the funds raised in this campaign, hobbyDB plans to finance its operations, add more data to the site, implement the UX design, and build image recognition. These improvements will make the platform more useful and engaging for collectors, potentially attracting more users.

Next Section: Price

Price

hobbyDB, with its current fundraising through preferred equity at a pre-money valuation of $18.8 million, appears to be significantly overvalued when considering its latest annual revenue of $418,154. The company's revenue multiple stands at 44.96x, which is exceedingly high for a company in this industry, especially one still in the pre-profit phase. This high multiple suggests that the price investors are being asked to pay is not well-aligned with the company's current financial performance.

Despite hobbyDB's robust user base of 650,000 and the impressive total value of collections on its platform, the company's actual financial traction does not justify such a lofty valuation. With a slight decline in annual revenue growth of -2.79%, there is cause for concern regarding the company's ability to scale and increase revenue at a rate that would validate the current valuation in a reasonable timeframe. Moreover, the company's previous fundraising efforts, amounting to $3.8 million, have not yet translated into a path to profitability or a sustainable increase in revenue.

Investors should exercise caution and consider the likelihood of hobbyDB achieving the necessary financial milestones to support such a high valuation. It is crucial to weigh the potential for growth against the reality of the company's current revenue and growth trajectory before making an investment decision.

Next Section: Market

Market

hobbyDB is part of the U.S. online antiques and collectibles market, valued at $2.4 billion. This market is experiencing growth, with a projected annual growth rate of 8.5%. As more collectors turn to online platforms to explore, track, and organize their collections, hobbyDB's comprehensive database and price guide service are well-positioned to meet this increasing demand.

The company's niche target market consists of collectors seeking a dedicated platform to manage and value their collections. With 650,000 users managing collections worth $5.7 billion and over 350,000 app downloads, hobbyDB has already demonstrated high market acceptance within this niche. The company's user-centric approach—providing a platform built by collectors for collectors—has likely contributed to its success in attracting and retaining users.

In conclusion, hobbyDB's market potential is high, driven by the growing online antiques and collectibles market and the company's strong value proposition for collectors. However, it will need to continue to innovate and differentiate its offerings to maintain its competitive position and capitalize on the market growth opportunities.

Next Section: Team

Team

hobbyDB is led by founder and CEO Christian Braun. With ten years of relevant industry experience, Braun brings a deep understanding of the collecting community and a passion for building a platform that serves collectors worldwide. Braun's dedication to creating a free resource for collectors, built by collectors, has been instrumental in the development and success of hobbyDB.

Braun's experience and expertise in the industry, combined with his high-level managerial skills, have positioned hobbyDB for growth and success. His commitment to serving the collecting community and his vision for the platform's future make him a strong leader for the company.

Next Section: Differentiation

Differentiation

hobbyDB differentiates itself in the market as a free resource and database designed for collectors. With a user-friendly interface and comprehensive collectibles database, hobbyDB offers collectors a platform to explore, track, and organize their collections. The price tracker feature allows collectors to keep track of the value of their collections, providing valuable insights into their investments.

While there may be competitors in the market, hobbyDB's differentiation lies in its user-centric approach and focus on providing a comprehensive and valuable resource for collectors. The platform is built by collectors for collectors, ensuring that it meets its target audience's specific needs and requirements.

Although the competitive landscape may be moderately competitive, hobbyDB's high-quality differentiation sets it apart from others in the market. The platform's user-friendly interface, extensive database, and price tracking feature give collectors a unique and valuable experience. This differentiation, combined with its growing user base and strong community engagement, positions hobbyDB as a leading player in the online antiques and collectibles market.

Next Section: Performance

Performance

Financially, hobbyDB has generated annual revenue of $418,154. However, the company has experienced a slight decline in revenue growth, with a negative growth rate of -2.79%. hobbyDB has demonstrated its value proposition to collectors and can potentially capture a significant portion of the U.S. online antiques and collectibles market. 

hobbyDB has amassed an impressive user base of 650,000 collectors, with collections worth a staggering $5.7 billion. The platform has also gained popularity, with over 350,000 downloads of its app. These numbers demonstrate the trust and engagement of the collecting community in hobbyDB's services.

Next Section: Risk

Risk

Investing in hobbyDB carries several risks that potential investors should be aware of. Firstly, the company operates in a moderately competitive market. While hobbyDB has a unique offering as a free resource for collectors, other platforms and databases are available that cater to collectors. This competition may make it challenging for hobbyDB to attract and retain users, as collectors have multiple options.

Additionally, hobbyDB relies on user engagement and growth to drive revenue. The company generates revenue through transactional activities on its marketplace, such as buying and selling collectibles. The success of hobbyDB's revenue model depends on increasing user activity and driving transactions. If the user base does not grow or engage with the platform, it may impact the company's ability to generate sustainable revenue.

Another risk that hobbyDB faces is the need to continuously add data and improve the user experience on its platform. Users rely on accurate, up-to-date information to track and organize their collections effectively. If hobbyDB fails to update and expand its database regularly, it may result in user dissatisfaction and a decline in user retention.

Financially, hobbyDB has a negative net income and a monthly burn rate. The company's burn rate indicates that it is currently spending more than it generates in revenue, requiring ongoing funding to sustain its operations. This dependency on external funding poses a risk, as the company needs to secure sufficient capital to continue operating and achieve its growth objectives.

Next Section: Bullish Outlook

Bullish Outlook

hobbyDB is a platform for collectors, providing a comprehensive database and resources that cater to the needs of the collecting community. With 650,000 users and collections worth $5.7 billion, hobbyDB has established itself as a trusted and valuable resource for collectors worldwide.

One of the key features of hobbyDB is its price tracker, which allows collectors to keep track of the value of their collections. This functionality provides valuable insights and helps collectors make informed decisions about buying, selling, and managing their collections. The platform's robust database enables users to explore various fandoms and track their collections securely and organized.

While the company has not yet achieved profitability, hobbyDB has generated annual revenue of $418,154. Although the revenue growth rate has declined slightly, the platform's strong margin level positions it for future growth and profitability. The company's low capital intensity indicates that it can operate efficiently and effectively with minimal financial resources.

hobbyDB has a competitive advantage as a platform built and owned by collectors. This unique perspective and understanding of the collector's needs differentiate hobbyDB from its competitors. Furthermore, the company's association with Techstars, a prestigious accelerator program, demonstrates its potential for success and access to valuable resources.

Next Section: Bearish Outlook

Bearish Outlook

While hobbyDB offers a valuable resource for collectors, the company faces challenges in generating substantial revenue and achieving profitability. With a revenue growth rate of -2.79% and an annual revenue of $418,154, hobbyDB's financial performance has been declining since its last funding round. This raises concerns about the company's ability to monetize its platform and generate sustainable revenue streams.

Additionally, hobbyDB operates in a moderately competitive market. While it has a significant user base of 650,000 collectors with collections worth $5.7 billion, the company faces the challenge of attracting and retaining users in a market that includes other online platforms and resources catering to collectors. Without strong partnerships or a clear differentiation strategy, hobbyDB may struggle to maintain its user base and attract new collectors to its platform.

Furthermore, the company's burn rate of $21,660.42 per month, coupled with a relatively low cash balance of $60,013.00, indicates that hobbyDB heavily relies on external funding to sustain its operations. This dependence on fundraising introduces risks and uncertainties, as the company may face difficulties securing additional funding.

Next Section: Executive Summary

Executive Summary

hobbyDB is a digital platform designed for collectors, providing a detailed database of collectibles with a price guide. The platform allows users to explore fandoms, track their collections, and use a secure marketplace to buy and sell items. It boasts 650,000 users with collections worth $5.7 billion and over 350,000 app downloads.

The company is currently in the pre-profit stage, with an annual revenue of $418,154. Despite this, the company's revenue has decreased slightly by 2.79% in the last year. hobbyDB operates in the U.S. online antiques and collectibles market, which presents a high market potential. The platform's user-friendly features, such as its price tracker, make it an attractive tool for collectors.

hobbyDB has previously raised $3.8 million and is seeking additional funding through a crowdfunding campaign on Wefunder. The funds raised will finance the company's operations, add more data to the site, implement the UX design, and build image recognition. These developments should enhance the user experience and potentially attract more users to the platform.

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hobbyDB on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $18,798,145
Price per Share: $1.12

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