VUGO
Early Stage
We help rideshare drivers make more money while riders get interactive entertainment
Overview
Raised: $118,026
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/20/2021
Close Date
08/11/2021
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
Equity - Preferred
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$0.70
Early Bird Valuation
$8,145,000
Pre-Money Valuation
$9,050,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/31/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$581
# of Investors
119
Momentum
Funded
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Year Founded
2015
Industry
Marketing & Advertising
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
High
Capital Intensity
High
VUGO, with a pre-money valuation of $9.05 million, is raising crowdfunding on Wefunder. The company places advertising and entertainment content inside and on top of rideshare vehicles of companies like Uber and Lyft using digital screens and software. The drivers add incremental income to their trips, while the passengers get new entertainment and discover new products. Robert Flessner and James Bellefeuille founded VUGO in 2015 and have raised over $1.3 million since the inception. The proceeds of the current crowdfunding round, with a minimum raise of $50,000 and a maximum raise of $1,070,000, will be used towards operating expenses, development and tech management, and market expansion. VUGO has partnerships with Disney and VIA Ridesharing and is among one of the top startups to watch.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$7,993 |
$5,815 |
|
COGS |
$0 |
$0 |
|
Tax |
$713 |
$635 |
| ||
| ||
|
Net Income |
$-313,908 |
$-360,880 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$241,484 |
$1,456 |
|
Accounts Receivable |
$3,450 |
$3,450 |
|
Total Assets |
$290,145 |
$65,189 |
|
Short-Term Debt |
$102,943 |
$96,513 |
|
Long-Term Debt |
$532,435 |
$620,000 |
|
Total Liabilities |
$635,378 |
$716,513 |
Financials as of: 01/20/2021
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