mySongbird

mySongbird

Closed: Aug. 2021

About this raise

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.

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Investment Overview

Invested this round: $295,705

Deal Terms

Total Commitments

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

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.10

Pre-Money Valuation

$14,600,000

Company & Team

Company

Year Founded
2020
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2C
Margin
High
Capital Intensity
High
Location
Mesa, Arizona
Business Type
Growth
Company Website
Visit Website

Team

Employees
9
Prior Founder Exits?
No
Founder Name
Michael Mountford
Title
CIO

Financials

 Revenue
$20,858
 Monthly Burn
$115,234
 Runway
2.3 months
 Gross Margin
94%

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

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
08/26/2021 Wefunder $14,600,000 $295,705 Equity - Preferred Funded RegCF
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Add to portfolio
mySongbird on Wefunder
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $14,600,000
Price per Share: $0.10

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Warning: according to the close date for this deal, mySongbird may no longer be accepting investments.

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