Offline (2022)

Offline (2022)

Closed: Sep. 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.

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Investment Overview

Invested this round: $2,000,000

Deal Terms

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    Open SEC Filing

Price Per Share

$6.52

Pre-Money Valuation

$10,000,029

Company & Team

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%

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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Company Funding & Growth

Funding history

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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Growth Charts

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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Offline on Wefunder 2022
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $10,000,029
Price per Share: $6.52

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Follow Offline on Wefunder 2022

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

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