MagNet Analytics
Early Stage
Kiosk for vital products reaching customers where no retailer can
Overview
Raised: $284,234
Total Commitments ($USD)
Platform
Wefunder
Start Date
04/17/2020
Close Date
11/30/2020
Min. Goal
$50,000
Max. Goal
$1,069,994
Min. Investment
$100
Security Type
Equity - Preferred
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$6.80
Pre-Money Valuation
$6,800,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/06/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,252
# of Investors
187
Momentum
Funded
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Year Founded
2018
Industry
Retail Shops & Department Stores
Tech Sector
Hardwaretech
Distribution Model
B2B2C
Margin
Low
Capital Intensity
High
MagNet Analytics, with a pre-money valuation of $6.8 million, is raising funds on WeFunder. The company is working as a chain of automated retail kiosks that sell high-priority products at high-traffic locations. The kiosks of MagNet provide detailed information about the products, along with instant gratification. MagNet Analytics was founded by Eduardo Alvarez in 2018 and has raised over $150,000 since its inception. The current crowdfunding round has a minimum goal of $50,000 and a maximum goal of $1,069,994, and the proceeds will be used towards engineering for kiosk set-up, purchasing kiosks from manufacturers, business development, and working capital. MagNet Analytics has had 20 pilots, including partners like Disney, McDonald’s, and a Warren Buffet company.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$21,349 |
$34,771 |
|
COGS |
$358 |
$34,529 |
|
Tax |
$1,557 |
$3,250 |
| ||
| ||
|
Net Income |
$-325,755 |
$-793,494 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$22 |
$10,480 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$139,228 |
$394,733 |
|
Short-Term Debt |
$2,927 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$2,927 |
$0 |
Financials as of: 04/17/2020
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| MagNet Analytics | 06/13/2021 | Wefunder | $6,810,000 | $0 | Equity - Preferred | Not Funded | RegCF |
| MagNet Analytics | 11/30/2020 | Wefunder | $6,800,000 | $284,234 | Equity - Preferred | Funded | RegCF |
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