Sircles

Sircles

Early Stage

The Social Recommendations App Designed To Destroy Yelp!

The Social Recommendations App Designed To Destroy Yelp!

Overview

Raised to Date: Raised: $1,070,000

Total Commitments ($USD)

Platform

Wefunder

Start Date

10/15/2020

Close Date

11/12/2020

Min. Goal
$100,000
Max. Goal
$1,070,000
Min. Investment

$250

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$11,000,000

Discount

10%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

11/29/2020

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$38,214

# of Investors

2,018

Momentum
Funded
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Year Founded

2019

Industry

Consumer Products, Goods & Services

Tech Sector

CommerceTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Sacramento, California

Business Type

High Growth

Sircles, with a valuation cap of $11 million, is raising funds on Wefunder. It is a social recommendation app that combines Yelp and Facebook, minus the negativity. The unique features and safeguards of the app allow it to stand out, capture a network effect, and reward good behavior. John Worthington, Todd Fiore, Danny Hinkle, and Paul Buendia founded Sircles in 2019 and have raised over $1.1 million since the founding. The current crowdfunding round has a minimum raise of $100,000 and a maximum raise of $1,070,000, and the funds will be used for product development, business development, marketing, and legal and professional expenses. Sircles maxed out its beta-tester program at 3,000, and its 30-day retention was maintained at 80% for eight consecutive months.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$800

$0

 

 

Net Income

$-543,830

$-25

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$94,997

$85

Accounts Receivable

$0

$0

Total Assets

$159,997

$35,095

Short-Term Debt

$38,198

$0

Long-Term Debt

$100

$35,000

Total Liabilities

$38,298

$35,000

Financials as of: 10/15/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Sircles 04/28/2024 Wefunder $30,000,000 $1,349,903 SAFE Active RegCF
Sircles 04/14/2022 Wefunder $23,000,000 $2,701,066 SAFE Funded RegCF
Sircles 11/12/2020 Wefunder $11,000,000 $1,070,000 SAFE Funded RegCF
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Sircles on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $11,000,000

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