Loop by California Labs (previously Loop)
Growth Stage
A WiFi connected display and private social network that helps families stay connected around the world
Overview
Raised: $38,991
Total Commitments ($USD)
Platform
StartEngine
Start Date
03/24/2022
Close Date
06/29/2022
Min. Goal
$9,999
Max. Goal
$106,998
Min. Investment
$249
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$1.47
Pre-Money Valuation
$25,608,673
Rolling Commitments ($USD)
Status
Funded
Reporting Date
07/03/2022
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
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: 03/24/2022
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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) | 04/29/2024 | Wefunder | $14,000,000 | $100,311 | SAFE | Active | RegCF |
| Loop by California Labs (previously Loop) | 06/29/2022 | StartEngine | $25,608,673 | $38,991 | Equity - Common | Funded | RegCF |
| Loop | 10/04/2019 | SeedInvest | $8,500,000 | $3,038,213 | Convertible Note | Funded | RegCF / RegD 506(c) |
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