Overview

Raised to Date: Raised: $559,853

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/11/2022

Close Date

04/04/2023

Min. Goal

$150,000

Max. Goal

$1,235,000

Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    

Early Bird Val. Cap

$28,000,000

Valuation Cap

$33,000,000

Discount

0%

Venture Capital Investors:

Kickstart Fund

Rolling Commitments ($USD)

Status

Funded

Reporting Date

04/29/2023

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$4,954

# of Investors

1,074

Momentum

Funded

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Zencastr

Year Founded

2020

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Location

Cottonwood Heights, Utah

Business Type

Growth

Company Website

Zencastr, with a valuation of $28 million, is raising funds on Wefunder. The company has developed a podcasting platform that makes it easy to create, grow, and monetize podcasts. The platform is based on AI and uses the technology to match entities based on context, sentiment, date, location, category, gender, and engagement. Zencastr is already a dominant platform, with over 15% of the active podcasters using it. Josh Nielsen founded Zencastr in June 2020. The current crowdfunding campaign has a minimum target of $150,000 and a maximum target of $1.24 million. The campaign proceeds will be used for funding the existing operations and extending burn, building out the revenue sharing part of the business, and digital marketing.

Summary Profit and Loss Statement

	FY 2021	FY 2020
Revenue	$2,046,473	$796,902
COGS	$584,732	$103,100
Tax	$0	$0
Net Income	$-2,166,558	$-407,932

Summary Balance Sheet

	FY 2021	FY 2020
Cash	$933,664	$3,042,417
Accounts Receivable	$0	$0
Total Assets	$2,433,662	$3,042,417
Short-Term Debt	$353,718	$276,862
Long-Term Debt	$150,000	$232,000
Total Liabilities	$503,718	$508,862

Financials as of: 12/11/2022

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Many of the podcast hosts that I follow speak candidly about the struggles of monetization in their shows. Most of them have Patreon accounts for supplemental income, but it seems (at least according to the creators I follow) that consistent and substantial revenue is hard to come by through content creation. Many of my favorite creators make content because it is something they enjoy or it sends an important message. And content creation is a lot of work. The amount of time many of these artists put in for a small reward is often discouraging. Because of this, less than 20% of podcasts actually make it past the first year of production. 

Zencastr is trying to make podcasters’ lives easier, seeing as the medium has grown substantially over the recent years. Zencastr is an all-in-one podcast success platform. Content creators can record, produce, and publish their podcasts and then go on to monetize through the platform. Artificial intelligence helps to transcribe, topic model, and match brands for alignment and safety (making sure the content is appropriate for the ad and brand association) for the direct- to- brand sales. Zencastr primarily makes revenue based on revenue sharing agreements with creators. In addition, a tiered subscription model features a very liberal free plan, but users can scale up to include more advanced features like coupon management and conversion tracking.

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