PowerBuy
Early Stage
Helping e-Commerce merchants earn more through a new, innovative & interactive checkout flow
Overview
Raised: $22,202
Total Commitments ($USD)
Platform
Netcapital
Start Date
12/31/2021
Close Date
01/27/2023
Min. Goal
$10,007
Max. Goal
$1,000,501
Min. Investment
$103
Security Type
Equity - Common
Series
Pre-Seed
Funding Type
RegCF
Price Per Share
$11.45
Pre-Money Valuation
$15,951,590
Rolling Commitments ($USD)
Status
Funded
Reporting Date
01/31/2023
Days Remaining
Funded
% of Min. Goal
222%
% of Max. Goal
2%
Likelihood of Max
Funded
Avg. Daily Raise
$57
Momentum
Funded
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Location
Irvine, California
Industry
Business Services, Software, & Applications
Tech Sector
EnterpriseTech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
PowerBuy, with a valuation of $15.9 million, is raising funds on NetCapital. The company has developed an interactive and innovative checkout solution for e-commerce merchants. The checkout solution of PowerBuy is not static and traditional but fun and interactive and allows users to checkout with friends and buy multiple products. PowerBuy has served over 800 merchants and has been rated one of the top social commerce apps on Shopify. Bruce Watanabe and Thu Truong founded PowerBuy in April 2016. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1,000,501. The campaign proceeds will be used for sales and marketing, engineering, and compensation for managers.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$153,127 |
$240,284 |
|
COGS |
$11,189 |
$13,947 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,416,526 |
$-1,112,567 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$227,639 |
$504,788 |
|
Accounts Receivable |
$49,102 |
$48,535 |
|
Total Assets |
$289,527 |
$568,869 |
|
Short-Term Debt |
$1,376,158 |
$807,011 |
|
Long-Term Debt |
$3,261,909 |
$2,665,022 |
|
Total Liabilities |
$4,638,067 |
$3,472,033 |
Financials as of: 12/31/2021
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