Otherweb

Early Stage

AI for a junk-free internet

Overview

Raised to Date: Raised: $205,851

Total Commitments ($USD)

Platform

Wefunder

Start Date

02/21/2023

Close Date

04/29/2024

Min. Goal

$50,000

Max. Goal

$750,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$6,000,000

Valuation Cap

$8,000,000

Discount

0%

Rolling Commitments ($USD)

Status

Active

Reporting Date

03/23/2023

Days Remaining

403

% of Min. Goal

412%

% of Max. Goal

27%

Likelihood of Max
extremely
Avg. Daily Raise

$6,862

# of Investors

45

Momentum
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Year Founded

2021

Industry

Business Services, Software, & Applications

Tech Sector

EnterpriseTech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

Round Rock, Texas

Business Type

High Growth

Otherweb, with a valuation of $8 million, is raising funds on Wefunder. The company has developed an AI-based walled garden of pristine information without the junk. The platform filters out all the junk and gives the users complete control over what appears in their feed by insulating them from the noise of the broader internet. Otherweb has a community of 93,000 active users and is doubling in size every two weeks on average. Alex Fink founded Otherweb in September 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $750,000. The campaign proceeds will be used to hire more engineers in Ukraine to speed up development, hire an in-house UX designer, increase the size of its web index, and cover AWS expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$113

$0

COGS

$0

$0

Tax

$650

$750

 

 

Net Income

$-158,930

$-6,093

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$21,294

$44,213

Accounts Receivable

$0

$0

Total Assets

$21,294

$44,213

Short-Term Debt

$35,424

$0

Long-Term Debt

$150,808

$50,266

Total Liabilities

$186,232

$50,266

Financials as of: 02/21/2023
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Otherweb on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $8,000,000

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