Lips

Early Stage

Instagram alternative built for women, the LGBTQ+ community, & their fans

Analytics

Raised to Date: Raised: $94,056

Aggregate Commitments $

Platform

Wefunder

Start Date

08/10/2021

Close Date

11/25/2021

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Pre-Seed

Valuation Cap

$3,500,000

Discount Rate

20%

Rolling Commitments $

Status
Funded
Reporting Date

11/28/2021

Days Remaining
Funded
% of Min. Goal

188%

% of Max. Goal

38%

Likelihood of Max
Funded
Avg. Daily Raise

$879

Momentum
Funded
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Location

San Diego, California

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

Low

Business Type

Growth

Lips, with a $3.5 million valuation cap, is raising crowdfunding on Wefunder. The company has designed a community-specific social media platform and marketplace to improve the mental health and financial wellbeing of women, non-binary people, and the LGBTQIA+ community. Annie Brown founded Lips in July 2019. The proceeds of the current crowdfunding campaign, with a minimum raise of $50,000 and a maximum raise of $250,000, will be used for the development of technology, community management, and marketing. Lips had over 10,000 users in its first month and has been featured in Mashable, Forbes, Huffington Post, and Maxim. The platform also has a patent-pending blockchain application to prevent biased censorship, harassment, and plagiarism.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$968

$249

 

 

Net Income

$18,164

$-3,578

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$461

$447

Accounts Receivable

$0

$0

Total Assets

$33,351

$447

Short-Term Debt

$7,165

$2,425

Long-Term Debt

$10,000

$0

Total Liabilities

$17,165

$2,425

Financials as of: 08/10/2021
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Lips on Wefunder 2021
$
Platform: Wefunder
Security Type: Convertible Note
Valuation: $3,500,000

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