Piggyback Network Llc
Early Stage
Uniting families with other families for safe, reliable youth carpool
Overview
Raised: $83,370
Total Commitments ($USD)
Platform
Wefunder
Start Date
09/07/2023
Close Date
01/13/2024
Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment
$250
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$12,000,000
Discount
15%
Rolling Commitments ($USD)
Status
Active
Reporting Date
09/30/2023
Days Remaining
105
% of Min. Goal
167%
% of Max. Goal
67%
Likelihood of Max
Avg. Daily Raise
$3,625
Momentum
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Year Founded
2023
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
AutomationTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
PiggyBack Network, with a valuation of $12M, is raising funds on Wefunder. The company is providing a safe and reliable youth carpool solution for everyday driving families. PiggyBack Network has developed an incentivized carpool solution that allows parents to manage their schedules without the stress of overlapping meetings and transportation responsibilities. They have signed formal partnership agreements with The YMCA in Chicago and Boston and have raised $345,000 to date for their platform's growth. Donald Scott II co-founded the company in 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for web and mobile app development, marketing strategy & execution, advertising costs, operating costs, process patent, and fees
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$126 |
$464 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-290,452 |
$-5,947 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$30,624 |
$3,948 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$34,441 |
$8,048 |
|
Short-Term Debt |
$6,036 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$6,036 |
$0 |
Financials as of: 09/07/2023
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