Loop (previously Loop by California Labs)

Growth Stage

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

Overview

Raised to Date: Raised: $0

Total Commitments ($USD)

Platform

Wefunder

Start Date

02/20/2023

Close Date

04/30/2023

Min. Goal

$50,000

Max. Goal

$579,265

Min. Investment

$250

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$11,200,000

Valuation Cap

$14,000,000

Discount

20%

Rolling Commitments ($USD)

Status

Active

Reporting Date

03/27/2023

Days Remaining

34

% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max
unlikely
Avg. Daily Raise

$0

Momentum
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Year Founded

2014

Industry

Consumer Products, Goods & Services

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

San Francisco, California

Business Type

Growth

Company Website

Loop, with a valuation of $14 million, is raising funds on Wefunder. The company has developed a private photo sharing and a digital frame for users to share pictures with their families securely. The private family network of Loop works for both Android and Apple and is suitable for people with varying technology awareness. Loop has been used to share more than 4 million photos and has generated $1.5 million in revenue to date. Brian Gannon founded Loop in March 2014. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $579,265. The campaign proceeds will be used for paid advertising, marketing, hiring, and operations.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$770,496

$225,588

COGS

$287,418

$124,063

Tax

$0

$0

 

 

Net Income

$-597,205

$-935,449

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$226,664

$553,751

Accounts Receivable

$0

$0

Total Assets

$1,508,546

$1,328,671

Short-Term Debt

$5,130,442

$361,533

Long-Term Debt

$0

$4,653,246

Total Liabilities

$5,130,442

$5,014,779
Financials as of: 02/20/2023
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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) 04/30/2023 Wefunder $14,000,000 $0 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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Loop on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $14,000,000

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