Tusk by VWC (previously Virtual World Computing) (2024)

Tusk by VWC (previously Virtual World Computing) (2024)

About this raise

TUSK by VWC, with a valuation of $10 million, is raising funds on Wefunder. The company has developed a web browser and search engine with an emphasis on free speech. The TUSK browser is censorship-free, and the TUSK search engine works without the liberal bias and provides results for Conservative news outlets. TUSK by VWC is designed by Conservatives for Conservatives and has reported over 40,000 downloads in six months. Jeffrey Bermant founded TUSK by VWC in January 2008. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for marketing, research and development, future wages, debt repayment, and general and administrative expenses.

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Investment Overview

Invested this round: $137,475

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
12/27/2022
Close Date
04/29/2024
Min. Goal
$50,000
Max Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Growth Stage

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$9,000,000

Valuation Cap

$10,000,000

Discount

10%

Company & Team

Company

Year Founded
2018
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
Santa Barbara, California
Business Type
High Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Jeffrey C Bermant
Title
CEO

Financials

 Revenue
$51,887
as of FY2022
 Monthly Burn
$85,327
as of FY2022
 Runway
1.5 months
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$5,700

$51,887

COGS

$12,377

$31,216

Tax

$861

$873

 

 

Net Income

$-1,023,920

$-602,907

Summary Balance Sheet

FY 2022 FY 2021

Cash

$126,689

$408,990

Accounts Receivable

$5,056

$9,032

Total Assets

$159,986

$449,908

Short-Term Debt

$1,250,329

$516,331

Long-Term Debt

$1,772,650

$1,772,650

Total Liabilities

$3,022,979

$2,288,981

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$11,132,517
VC Backed?
No
Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Tusk by VWC (previously Virtual World Computing) 04/29/2024 Wefunder $10,000,000 $137,475 SAFE Funded RegCF
Virtual World Computing 03/03/2021 Funders USA $5,200,000 $0 Convertible Note Not Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Employee History

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TUSK by VWC on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $10,000,000

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Warning: according to the close date for this deal, Tusk by VWC (previously Virtual World Computing) may no longer be accepting investments.

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