Loop by California Labs (previously Loop)

Loop by California Labs (previously Loop)

Growth Stage

A WiFi connected display and private social network that helps families stay connected around the world

A WiFi connected display and private social network that helps families stay connected around the world

Overview

Raised to Date: Raised: $38,991

Total Commitments ($USD)

Platform

StartEngine

Start Date

03/23/2022

Close Date

06/28/2022

Min. Goal
$9,999
Max. Goal
$106,998
Min. Investment

$249

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.47

Pre-Money Valuation

$25,608,673

Rolling Commitments ($USD)

Status
Funded
Reporting Date

07/02/2022

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

$402

# of Investors

33

Momentum
Funded
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Year Founded

2014

Industry

Consumer Products, Goods & Services

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

San Francisco, California

Business Type

Growth

Loop by California Labs, with a valuation of $18.5 million, is raising funds on StartEngine. Loop is a hyper-personal social network and digital frame that combines hardware and software solutions. The solution enables users to own their content and control their network. Loop app and digital frame keep the families connected with a private family feed without compromising on privacy. Loop by California Labs has reported over $1 million in sales and works on a subscription model with recurring revenue. Brian Gannon founded Loop by California Labs in March 2014. The current crowdfunding campaign has a minimum target of $9,998.94 and a maximum target of $106,998.36. The campaign proceeds will be used to launch new products and grow.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$225,588

$293,060

COGS

$124,063

$196,306

Tax

$0

$0

 

 

Net Income

$-935,449

$-483,054

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$553,751

$347,335

Accounts Receivable

$0

$0

Total Assets

$1,328,671

$1,262,709

Short-Term Debt

$361,533

$266,014

Long-Term Debt

$4,653,246

$3,794,963

Total Liabilities

$5,014,779

$4,060,977

Financials as of: 03/23/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Loop (previously Loop by California Labs) 03/30/2024 Wefunder $14,000,000 $100,311 SAFE Active RegCF
Loop by California Labs (previously Loop) 06/28/2022 StartEngine $25,608,673 $38,991 Equity - Common Funded RegCF
Loop 10/03/2019 SeedInvest $8,500,000 $3,038,213 Convertible Note Funded RegCF / RegD 506(c)
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Loop by California Labs on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Common
Valuation: $25,608,673
Price per Share: $1.47

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