Overview

Raised to Date: Raised: $217,375

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Wefunder

Start Date

08/03/2022

Close Date

11/12/2022

Min. Goal

$100,000

Max. Goal

$1,000,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    

Valuation Cap

$8,000,000

Discount

0%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

11/29/2022

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$2,174

# of Investors

87

Momentum

Funded

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Queer Spaces

Year Founded

2022

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Los Angeles, California

Business Type

High Growth

Company Website

Queer Spaces, with a valuation of $8 million, is raising funds on Wefunder. It is a queer app that spans the entire spectrum of over 400 million LGBTQ+ people. The app creates a safe digital space for queer people to find their space without any discrimination. The app, Spaces, allows users to discover other LGBTQ+ people authentically and chat with them over shared interests. Queer Spaces launched its MVP in March 2022 and has been growing at 80-400% per month. Christof Wittig founded Queer Spaces in July 2022. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1,000,000. The campaign proceeds will be used for the engineering and marketing teams and marketing.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$0	$0
COGS	$0	$0
Tax	$0	$0
Net Income	$0	$0

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$45	$0
Accounts Receivable	$0	$0
Total Assets	$45	$0
Short-Term Debt	$0	$0
Long-Term Debt	$0	$0
Total Liabilities	$0	$0

Financials as of: 08/03/2022

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The Queer Spaces app serves as a safe place to appreciate and nurture queer culture. The niche need for this app is clear. Very few social networking sites focus exclusively on the queer community. Even among queer-designated apps, Queer Spaces stands out out for targeting the entire umbrella of queer identities. Historically, queer apps like Grindr have focused solely on gay men. 

Queer Spaces is a very promising and necessary project. But whether or not the company will make a strong addition to an investor portfolio depends on its ability to overcome some big hurdles. 

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