TipSnaps
Early Stage
Enabling overlooked Creators + underserved Fans in the Creator Economy
Analytics
Raised: $35,620
Aggregate Commitments $
Platform
Republic
Start Date
05/12/2022
Close Date
04/30/2023
Min. Goal
$25,000
Max. Goal
$750,000
Min. Investment
$100
Security Type
SAFE
Funding Type
RegCF
Series
Seed
Valuation Cap
$15,000,000
Discount Rate
0%
Rolling Commitments $
Status
Active
Reporting Date
05/26/2022
Days Remaining
338
% of Min. Goal
142%
% of Max. Goal
5%
Likelihood of Max
Avg. Daily Raise
$2,544
Momentum
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Location
Lewes, Delaware
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
TipSnaps, with a valuation of $15 million, is raising funds on Republic. The company has developed a black-owned platform focused on creators of color and underserved fans. The platform promotes creators of color who are often overlooked by other platforms and empowers fans to request the content they want. TipSnaps makes weekly payouts to creators, offers profile customization and crowdfunding for content, and has a monthly upload guarantee for fans. TipSnaps has 450,000 registered users and $2 million in gross sales since launch. Lyonel Douge founded TipSnaps in March 2017. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $750,000. The campaign proceeds will be used for engineering, social marketing, and support.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$184,974 |
$332,090 |
|
COGS |
$198,673 |
$299,621 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-219,490 |
$-45,671 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$3,020 |
$197,371 |
|
Accounts Receivable |
$1,431 |
$5,367 |
|
Total Assets |
$4,451 |
$205,538 |
|
Short-Term Debt |
$41,729 |
$19,092 |
|
Long-Term Debt |
$200,000 |
$200,000 |
|
Total Liabilities |
$241,729 |
$219,092 |
Financials as of: 05/12/2022
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