Project Transcend
Early Stage
Legacy Redefined. Social Media Reimagined.
Overview
Raised: $53,208
Total Commitments ($USD)
Platform
StartEngine
Start Date
12/12/2022
Close Date
02/07/2023
Min. Goal
$10,000
Max. Goal
$1,235,000
Min. Investment
$149
Security Type
Equity - Common
Series
Seed
Funding Type
RegCF
Price Per Share
$1.32
Pre-Money Valuation
$14,520,000
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/02/2023
Days Remaining
5
% of Min. Goal
532%
% of Max. Goal
4%
Likelihood of Max
Avg. Daily Raise
$1,023
# of Investors
32
Momentum
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Location
Raleigh, North Carolina
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Project Transcend, with a valuation of $14.52 million, is raising funds on StartEngine. It is a social media platform that encourages users to capture authentic moments and share meaningful memories. The platform does not aim to create content for likes, clicks, and mass engagement but to capture life’s stories and the legacies of people. Project Transcend is in the pre-revenue and beta-testing stages and plans to launch in the market soon. Matthew Phillips founded Project Transcend in February 2019. The current crowdfunding campaign has a minimum target of $10,000.32 and a maximum target of $1.24 million. The campaign proceeds will be used to add more features and functionalities, scale the technical team, and launch the 1.0 version.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-297,332 |
$-78,893 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$54,825 |
$37,382 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$54,825 |
$37,382 |
|
Short-Term Debt |
$66,936 |
$2,161 |
|
Long-Term Debt |
$754,500 |
$504,500 |
|
Total Liabilities |
$821,436 |
$506,661 |
Financials as of: 12/12/2022
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