LocalBuzz

LocalBuzz

Early Stage

Bringing local communities back together through video

Bringing local communities back together through video

Overview

Raised to Date: Raised: $58,256

Total Commitments ($USD)

Platform

Wefunder

Start Date

09/11/2022

Close Date

11/26/2022

Min. Goal
$50,000
Max. Goal
$249,000
Min. Investment

$250

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$7,000,000

Discount

15%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

11/29/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$777

# of Investors

64

Momentum
Funded
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Year Founded

2017

Industry

Media, Entertainment & Publishing

Tech Sector

MarketplaceTech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

Phoenix, Arizona

Business Type

High Growth

LocalBuzz, with a valuation of $7 million, is raising funds on Wefunder. The company has developed a platform that brings local people, content creators, and local businesses together. The platform is leveraging the local discovery economy and using social media and online marketplaces to create a new future for local economies. LocalBuzz allows users to venture out into the local communities, find interesting things to do, and meet new people. The app has had over 8,000 downloads and generated over 10,000 videos with more than 880,000 views. Adrian Gillette founded LocalBuzz in October 2017. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $249,000. The campaign proceeds will be used for product development, marketing, engineering, and operating expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$1,113

$30

 

 

Net Income

$-60,700

$-39,378

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$0

$15,100

Accounts Receivable

$0

$0

Total Assets

$71,388

$91,809

Short-Term Debt

$0

$11,905

Long-Term Debt

$0

$0

Total Liabilities

$0

$11,905

Financials as of: 09/11/2022
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LocalBuzz on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $7,000,000

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Warning: according to the close date for this deal, LocalBuzz may no longer be accepting investments.

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