Noad
Early Stage
The $0/night travel membership for remote professionals
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
09/18/2023
Close Date
04/29/2024
Min. Goal
$50,000
Max. Goal
$300,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$2,500,000
Valuation Cap
$3,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Active
Reporting Date
09/28/2023
Days Remaining
214
% of Min. Goal
0%
% of Max. Goal
0%
Likelihood of Max
Avg. Daily Raise
$0
Momentum
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Year Founded
2023
Industry
Travel and Hospitality
Tech Sector
MarketplaceTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Noad, with a valuation of $3 million, is raising funds on Wefunder. The company has developed a platform that offers home exchange membership for remote workers and digital nomads. Noad enables people to avoid paying double rent when they travel by hosting other members when they are away and gaining access to other members’ homes without any cost. The platform uses a credit system wherein members earn credits when they are away from home and spend the credits to travel within the network. Jonah Wolf, Austin Laudenslager, and Tom Waugh founded Noad in April 2023. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $300,000. The campaign proceeds will be used for marketing, customer acquisition, personnel, hiring, mobile app development, and operational expenses.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$2,650 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-6,408 |
$0 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$20,327 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$46,944 |
$0 |
|
Short-Term Debt |
$20,852 |
$0 |
|
Long-Term Debt |
$32,500 |
$0 |
|
Total Liabilities |
$53,352 |
$0 |
Financials as of: 09/18/2023
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