TipSnaps

Early Stage

Enabling overlooked Creators + underserved Fans in the Creator Economy

Overview

Raised to Date: Raised: $10,004

Total Commitments ($USD)

Platform

StartEngine

Start Date

02/16/2023

Close Date

04/17/2023

Min. Goal

$10,000

Max. Goal

$571,715

Min. Investment

$254

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$4.17

Pre-Money Valuation

$25,020,000

Rolling Commitments ($USD)

Status

Active

Reporting Date

03/27/2023

Days Remaining

21

% of Min. Goal

100%

% of Max. Goal

2%

Likelihood of Max
unlikely
Avg. Daily Raise

$257

# of Investors

5

Momentum
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Year Founded

2017

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

Low

Location

Lewes, Delaware

Business Type

High Growth

Company Website

TipSnaps, with a valuation of $25.02 million, is raising funds on StartEngine. 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 478,000 registered users and $2.1 million in gross sales since launch. Lyonel Douge and Dr. Vic L. Boddie II founded TipSnaps in March 2017. The current crowdfunding campaign has a minimum target of $9,999.66 and a maximum target of $571,715.34. The campaign proceeds will be used for marketing, operations, and support and moderation.

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

$205,538

$4,451

Short-Term Debt

$41,729

$19,092

Long-Term Debt

$200,000

$200,000

Total Liabilities

$241,729

$219,092
Financials as of: 02/16/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
TipSnaps 04/17/2023 StartEngine $25,020,000 $10,004 Equity - Common Active RegCF
TipSnaps 11/30/2022 Republic $15,000,000 $46,282 SAFE Funded RegCF
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TipSnaps on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Common
Valuation: $25,020,000

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