The 2021 era is clearly over and many private tech valuations dropped substantially in the last 12 months. So we thought it appropriate to match new market comps in 2023. Prior investors will be adjusted.

Correct - whenever the SAFE converts, previous invests are adjusted. This round is a SAFE that will convert at the next priced round, which could be a year or more later

Unlike some of our well-known competitors who have $1B+ valuations, we've had a strategy of raising only a small amount of money from our users at what we believe is a conservative valuation.

The 2021 era is clearly over and many private tech valuations dropped substantially in the last 12 months. So we thought it appropriate to match new market comps in 2023. This doesn't impact dilution much since we are not raising much money. We don't mind sharing more of the upside with our users.

Since we're raising on a SAFE, there is no share price yet.

We've been working hard on IRR and more is to come! I'm very optimistic that we have passed the bottom of this cycle and our growth (and therefore valuation) will increase in 2024-25. I personally subscribe to the believe that some have that the overall economy is experiencing a "rolling recession" that is hitting different industries at different times, and software and investing is coming out of ours.

The $3.58 share price was our Regulation Crowdfunding round last year. We are now doing a Regulation D raise that does not require a Form C. We are raising with a SAFE with a $175M valuation cap.

We've done two rounds in the past for retail investors. Unfortunately, our regulators no longer wish us to do that.

Not currently. We currently earned carried interest, however, from some of our funds: https://wefunder.com/funds

All of our updates are on the "updates" tab at https://wefunder.com/wefunder

When you invest in an SPV (i.e., Wefunder VI), you are investing in a fund that then invests in Wefunder. You own part of the SPV, the SPV owns Wefunder.

SPVs are used because VCs don't like investing in companies with thousands of investors directly on the cap table.

This raise is also an SPV

December 22

We are raising on a Simple Agreement for Future Equity, so a share price will not be set until it converts

Approximately $500k payroll and $250k non-payroll. Non-payroll can vary by month, but a typical month could look like $25k in servers/hosting, $15k referral fees, $10k sales and marketing, $60k office, $50k general and admin, $30k in legal, $10k bank processing, and $50k in other (one off things like k1 filings, ec).

Of our expenses, our office expense is too high and we plan to sublease part of it in 2024.

1. Around 600

2. For VIP investors, it should be clearly marked they have VIP terms right underneath the terms section

3.https://docs.google.com/spreadsheets/d/1kZhqwh5159NIl2ZoWImkfrhAQqIWYr5VZl7FEpOeWw8/edit#gid=231488126

1. Our 2023 financials are still being finalized, so these are rough numbers. Our expenses went from about $1M/month in Q1 to under $750k/month by Q4. The main accomplishment of 2023 was going from losing $400,000 per month when the year started to a positive operational net profit, while diversifying our revenue streams. Revenue declined about 10% from '22 to 23. Over the last three months, we've had a positive net profit from operations.

2. About 75% of revenue comes from transaction fees on Regulation Crowdfunding offerings. On average, we earn 8.2% of every dollar transacted via Regulation Crowdfunding. The remainder comes from the VIP program (just launched in December), bank interest (currently $115k a month), and carried interest and management fees from funds.

3. Investment volume, or as the business jargon goes "Gross Merchandise Volume (GMV)" - from all exemptions (Reg CF & Reg D). This has started to recover. Before interest rates rose, this was about $18M/month from 2021 into early 2022. After interest rates rose to 5%, in the last half of 2022, it was $8.4M/month. Over the last 9 months of 2023 (even though interest rates remained steady), it was about $12.5M/month.

4. There are no other info available. You can email me directly at nick@wefunder.com

Funded with about $20M in equity. No debt. I currently pay myself $40,000. Other officers $150k or less. 80%+ gross margin. In December, we expect over $1M in revenues compared with under $800k in expenses.

Only accredited investors logged into Wefunder may see our raise

We decreased our valuation to match post-2021 norms. Prior investors will also be adjusted

There is a limit of only 250 investors in the SPV, so we have a higher minimum. We don't want to raise much money this round, so a SAFE agreement in more suitable than spending $50k in legal fees for another priced round.

You can go to wefunder.com/cash. Please contact support at hello@wefunder.com if you need extra help

Wefunder is not doing a Regulation Crowdfunding campaign, so it is not on Kingscrowd. We are only doing a private Reg D raise.

Our exit plan is to IPO when our revenues can support listing on a major exchange.

Unfortunately, regulations require that we collect SSNs to make sure we can identify customers and file tax reports