SwitchBin
Early Stage
Switch Your Tech... Fast!
Overview
Raised: $19,462
Total Commitments ($USD)
Platform
StartEngine
Start Date
07/17/2022
Close Date
09/30/2022
Min. Goal
$10,000
Max. Goal
$1,069,998
Min. Investment
$250
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$3.12
Pre-Money Valuation
$24,975,000
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
09/29/2022
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$263
# of Investors
18
Momentum
Not Funded
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Year Founded
2020
Industry
Business Services, Software, & Applications
Tech Sector
EnterpriseTech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
SwitchBin, with a valuation of $25 million, is raising funds on StartEngine. The company has developed an automated solution for trading in and buying new devices. The interactive kiosk of SwitchBin will help users to trade in and upgrade their phones conveniently, securely, and quickly. The technology of SwitchBin can also be upgraded and applied to all connected devices, laptops, set-top boxes, and other categories. George Abdelmalak and Robert Kilinski founded SwitchBin in May 2020. The current crowdfunding campaign has a minimum target of $9,999.60 and a maximum target of $1,069,997.76. The campaign proceeds will be used for trial deployment.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-34,600 |
$-3,000 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$800 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$62,400 |
$97,000 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 07/17/2022
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