WiTopia
Growth Stage
Experience the internet as it should be.
Overview
Raised: $263,836
Total Commitments ($USD)
Platform
StartEngine
Start Date
09/07/2021
Close Date
03/07/2022
Min. Goal
$9,999
Max. Goal
$1,069,997
Min. Investment
$299
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$1.77
Pre-Money Valuation
$15,045,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,466
# of Investors
179
Momentum
Funded
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Year Founded
2003
Industry
Business Services, Software, & Applications
Tech Sector
EnterpriseTech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
WiTopia, with a valuation of $15 million, is raising funds on StartEngine. The company provides fast and easy VPN and encrypted email services that make the internet secure, private, and free. The services of WiTopia help protect data privacy and prevent cybercrime and identity thefts. WiTopia’s VPN service is well established and generating sales of about $2 million per year, while the encrypted email service has also started selling actively. William Bullock and Steve Shippa founded WiTopia in 2003. The current crowdfunding campaign has a minimum target of $9,998.73 and a maximum target of $1,069,996.86. The campaign proceeds will be used to add more users, build awareness, and execute the sales and marketing plans.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,910,679 |
$1,957,459 |
|
COGS |
$721,066 |
$706,477 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$77,902 |
$266,655 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$82,293 |
$238,976 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$125,073 |
$417,824 |
|
Short-Term Debt |
$59,092 |
$56,607 |
|
Long-Term Debt |
$553,991 |
$536,925 |
|
Total Liabilities |
$613,083 |
$593,532 |
Financials as of: 09/07/2021
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