Offline (2022)

About this raise

Offline, with a valuation of $10 million, is raising funds on Wefunder. The company has developed a monthly subscription that is reimagining restaurant discovery. The subscription allows users to try a new local restaurant every month and solves the problem of human motivation. The users share their interests, and the app matches them with two restaurants to try every month while receiving $10-$25 to spend at each spot. David Shaner founded Offline in February 2012. The current crowdfunding campaign has a minimum target of $50,005 and a maximum target of $2 million. The campaign proceeds will be used for continued product development, launching in new cities, launching the mobile app, and expanding the support staff.

Investment Overview

Invested this round: $2,000,000

Deal Terms
Company & Team

Total Commitments

Platform: Wefunder
Start Date: 09/01/2022
Close Date: 09/30/2022

Min. Goal
$50,005

Max Goal
$2,000,000

Min. Investment

$100

Security Type

Equity - Preferred

Company Stage

Early Stage

SEC Filing Type

RegCF

Price Per Share

$6.52

Pre-Money Valuation

$10,000,029

Company

Year Founded: 2012
Industry: Food, Beverage, & Restaurants
Tech Sector: MarketplaceTech
Distribution Model: B2C
Margin: High
Capital Intensity: Low
Location: Raleigh, North Carolina
Business Type: High Growth
Company Website: Visit Website

Team

Employees: 12
Prior Founder Exits?: No

Founder Name: David Shaner
Title: CEO

Financials

Revenue +19% YoY: $425,427
Monthly Burn: $14,583
Runway: 9.9 months
Gross Margin: 86%

View Detailed Financials

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$425,427	$356,404
COGS	$60,254	$50,243
Tax	$0	$0


Net Income	$-174,998	$-265,508

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$143,680	$348,078
Accounts Receivable	$3,747	$0
Total Assets	$160,008	$355,455
Short-Term Debt	$159,101	$102,820
Long-Term Debt	$0	$85,300
Total Liabilities	$159,101	$188,120

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Ratings

Total Prior Capital Raised: $3,684,488
VC Backed?: No

Close Date	Platform	Valuation	Total Raised	Security Type	Status	Reg Type
04/29/2024	Wefunder	$13,999,917	$362,263	Equity - Preferred	Funded	RegCF
09/30/2022	Wefunder	$10,000,029	$2,000,000	Equity - Preferred	Funded	RegCF

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Revenue
Valuation
Price per Share
Employees

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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View on Wefunder

Preferred Stock, $10M • Closed

6 Following

Add to Portfolio

21 Invested

Deal Considerations

Key Challenges
- No key challenges found
Other Risks
- No other risks found

Offline (2022)

Offline (2022)

About this raise