mySongbird
Early Stage
The ultimate destination for streaming music concerts
Overview
Raised: $295,705
Total Commitments ($USD)
Platform
Wefunder
Start Date
03/12/2021
Close Date
08/26/2021
Min. Goal
$200,000
Max. Goal
$1,070,000
Min. Investment
$250
Security Type
Equity - Preferred
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$0.10
Pre-Money Valuation
$14,600,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/31/2021
Days Remaining
Funded
% of Min. Goal
148%
% of Max. Goal
28%
Likelihood of Max
Funded
Avg. Daily Raise
$1,771
# of Investors
176
Momentum
Funded
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Year Founded
2020
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2C
Margin
High
Capital Intensity
High
mySongbird, with a pre-money valuation of $14.6 million, is raising funds on Wefunder. It is an OTT platform for streaming music concerts. The app will revolutionize the music industry with its ultimate concert viewing experience that aligns the interests of artists, fans, and the world as a whole. Michael Mountford founded mySongbird in September 2020. The current crowdfunding round has a minimum goal of $200,000 and a maximum goal of $1,070,000. The raise proceeds will target advertising, installment payment on loan taken for purchasing music license fees for concerts, and expansion of the content library. mySongbird has recently added a show catalog from Universal Music Group and expanded its memberships.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$20,858 |
$0 |
|
COGS |
$1,250 |
$0 |
|
Tax |
$36,202 |
$0 |
| ||
| ||
|
Net Income |
$-1,382,804 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$269,893 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$2,075,892 |
$0 |
|
Short-Term Debt |
$448,913 |
$0 |
|
Long-Term Debt |
$2,122,223 |
$0 |
|
Total Liabilities |
$2,571,136 |
$0 |
Financials as of: 03/12/2021
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