Minds
Early Stage
The Leading Alternative Social Network
Overview
Raised: $1,036,095
Total Commitments ($USD)
Platform
Wefunder
Start Date
05/05/2017
Close Date
06/09/2017
Min. Goal
$100,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
SEC Filing Type
RegCF
Valuation Cap
$15,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
06/09/2017
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$29,603
# of Investors
1,543
Momentum
Funded
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Year Founded
2011
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Location
Wilton, Connecticut
Minds, with a valuation of $15 million, is raising funds on Wefunder. It is a leading alternative social network that also helps people make money. The platform has several products, including Minds+ for consumers, Minds Pro for creators, and Nodes for businesses. Minds has over 3 million users and is already generating revenue. Bill Ottman, Mark Harding, John Ottman, and Jack Ottman founded Minds in October 2011. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1,070,000. The campaign proceeds will be used for the expansion of the team, advertising, and operations.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$97,696 |
$58,463 |
|
COGS |
$98,848 |
$62,584 |
|
Tax |
$567 |
$895 |
| ||
| ||
|
Net Income |
$-335,228 |
$-236,992 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$3,596 |
$19,048 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$41,605 |
$19,048 |
|
Short-Term Debt |
$568,723 |
$207,247 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$568,723 |
$207,247 |
Financials as of: 05/05/2017
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