MeWe

MeWe

Growth Stage

One of the world’s largest privacy-first, decentralized social networks

One of the world’s largest privacy-first, decentralized social networks

Overview

Raised to Date: Raised: $232,912

Total Commitments ($USD)

Platform

Wefunder

Start Date

04/04/2024

Close Date

04/29/2024

Min. Goal
$250,000
Max. Goal
$5,000,000
Min. Investment

$100

Security Type

Equity - Preferred

Series

Series C

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.84

Early Bird Valuation

$169,024,335

Pre-Money Valuation

$191,803,895

Rolling Commitments ($USD)

Status
Funded
Reporting Date

05/04/2024

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

$9,705

# of Investors

525

Momentum
Funded
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Year Founded

2011

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Mountain View, California

Business Type

High Growth

MeWe, with a valuation of $191.8 million, is raising funds on Wefunder. It is a large privacy-first decentralized social network. MeWe aims to create a digital landscape free from advertisements, spyware, and the spread of misinformation. The platform is user-centric, with 700,000 unique interest groups and over 20 million users, and enables users to connect over shared interests and passions. Jeffrey Edell and Jonathan Wolfe founded MeWe in June 2011. The current crowdfunding campaign has a minimum target of $250,000 and a maximum target of $5 million. The campaign proceeds will be used for operations, product development, and marketing.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$2,559,272

$7,060,525

COGS

$412,421

$1,563,999

Tax

$13,356

$4,399

 

 

Net Income

$-9,180,710

$-2,922,597

Summary Balance Sheet

FY 2023 FY 2022

Cash

$7,811,299

$508,651

Accounts Receivable

$124,972

$254,655

Total Assets

$14,948,309

$2,534,351

Short-Term Debt

$961,000

$2,698,000

Long-Term Debt

$0

$0

Total Liabilities

$961,000

$2,698,000

Financials as of: 04/04/2024
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MeWe on Wefunder 2024
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $191,803,895
Price per Share: $0.84

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