{"data":{"type":"company_profile","id":149093,"entity_id":"wefunder:company:149093","attributes":{"canonical_url":"https://wefunder.com/groundfloorclub","generated_at":"2026-06-23T00:24:20Z","updated_at":"2026-06-22T05:03:58Z","entity_ids":{"company":"wefunder:company:149093","slug":"wefunder:company_slug:groundfloorclub"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-23T00:24:20Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-22T05:03:58Z","as_of":"2026-06-23T00:24:20Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-22T05:03:58Z","as_of":"2026-06-23T00:24:20Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-23T00:24:20Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-23T00:24:20Z","confidence":"medium"}}},"company":{"id":149093,"entity_id":"wefunder:company:149093","slug":"groundfloorclub","name":"Groundfloor Club","tagline":"Platform curing loneliness and reconnecting humanity","story":"Groundfloor builds technology and physical spaces to enable community in the real world.As a species, we are less connected than ever before. Over the past 20 years, time spent with other people has decreased by 70%. This was greatly exacerbated by the Covid-19 pandemic. In 2023 the US Surgeon General declared loneliness to be ‘the new epidemic’, citing that social isolation is more dangerous than smoking 15 cigarettes a day.\u0026nbsp;We are social creatures but modern life \u0026amp; the decline of traditional institutions (schools, places of worship, physical offices) has left millions of people dangerously disconnected.Our solution is to rebuild the toolkit required to make friends as an adult. Groundfloor’s solution is to create neighborhood community hubs. These are physical spaces specifically designed to cultivate community and friendship. Members of Groundfloor communities use these spaces for wellness, work and social activities, all powered by our technology.Membership is growing 10-20% MoM with 1.4K current members across all locations\u0026gt;350 LA members confirmed already pre-opening; last drop sold out in 6 minutes2023 revenues were $1.47M, up 189% YoY from $507K in 2022All time revenues at $2.28M Groundfloor is unique to other membership based social organizations because of our singular focus on empowering community. 90%+ of experiences, events and classes at Groundfloor locations are led by the members of the community itself, creating a unique bottoms-up approach to building community and a uniquely immersive experience.We have built the end-to-end platform to power community in the physical world. Our proprietary algorithm introduces members to each-other based on mutual interests, passions and life stages. We give our members the tools to start groups and share and monetize their passions. Our backend operating system is a single solution to run a physical community space from security to door access and onsite purchases.Groundfloor was founded coming out of the Covid 19 pandemic as an antidote to loneliness and social isolation. We have expanded rapidly. In March 2022 we opened our first location in San Francisco. In April 2023 we opened in Oakland, and in September 2023 we opened in San Rafael. In April 2024 we open in Echo Park, Los Angeles. Since launching in San Francisco 2 years ago we have supercharged the social lives of \u0026gt;1,000 members. We’ve spawned countless lifelong friendships, grown to launch dozens of interest groups, hosted \u0026gt;5,000 events and had become the default gathering spot in the communities we serve.Our business model is straightforward, and sustainable. We charge a $200 monthly membership fee. We pre-sell memberships to new locations to ensure that every location is at (or near) break-even before doors open.\u0026nbsp;Locations are 4-8 week build-out, average cost $200K, break-even in \u0026lt;2 monthsAll locations are profitable; 50-70% four wall gross margin at full capacity31:1 LTV:CAC ratio; $50 cost to acquire member repaid 4x in month 1 of membershipForward-looking statements are not guaranteed.On a daily basis we have people reaching out to us to open a Groundfloor in their city. Over the next 24 months we will open 12 more locations, going from 1K members to 10K and $2M ARR to $20M ARR.There are 7.2M people in our target demographic across the US giving us a total available market of $10.2B. Based on performance to-date we only need 36K of them to hit $100M in annual revenue (0.005% of the total available market). We’ve raised $3M to-date from institutional venture capitalists including 2048 Ventures, Vitalize, Gaingels and notable angels including Jacob Jaber, Co-Founder \u0026amp; CEO, Philz Coffee and Varsha Rao, former COO, Airbnb.Founding team are all repeat founders: CEO Jamie: architect, Fulbright scholar, hospitality background; CPO Jermaine: Product, community, data science; CTO Leutrim: \u0026gt;10 years full-stack development.We’ve been featured in Forbes, ABC News, The Guardian, LA Times, SF Chronicle and others:Our website is here and Instagram is here","location":"San Francisco, CA","website":"https://groundfloorclub.com/","total_amount_raised":204443,"total_investors":247,"is_funded":true,"is_active":true,"quality_score":2,"related_urls":["https://wefunder.com/groundfloorclub","https://groundfloorclub.com/"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/149093/xxl_blob.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/149093/large_blob.png","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/149093/standard_blob.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/149093/standard_blob.jpg"},"links":{"company_url":"https://groundfloorclub.com/","linkedin_url":"https://linkedin.com/company/groundfloorclub","twitter_url":"https://twitter.com/Groundfloorclub","instagram_url":"https://instagram.com/groundfloorclub/"},"highlights":[{"id":62781,"name":"venture_backed","url":"venturebacked","presentable_name":"VC-Backed","description":"Raised $250K or more from a venture firm","image_url":"https://uploads.wefunder.com/2021/profile-highlights-check.svg"},{"id":75537,"name":"repeat_founder","url":"repeatfounder","presentable_name":"Repeat Founder","description":"Started a prior company with $2M+ in funding or revenue","image_url":"https://uploads.wefunder.com/2021/profile-highlights-replay.svg"}],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"$2M revenue run rate, up 189% from 2022"},{"index":2,"claim_id":"claim-fact-2","value":"4 locations opened in under 2 years"},{"index":3,"claim_id":"claim-fact-3","value":"$3M from investors including 2048 Ventures, Vitalize, Jacob Jaber, (Co-Founder of Philz Coffee)"},{"index":4,"claim_id":"claim-fact-4","value":"Profitable locations with 70% gross margins"},{"index":5,"claim_id":"claim-fact-5","value":"1.4K members in current locations, growing 20% MoM"},{"index":6,"claim_id":"claim-fact-6","value":"Proprietary technology including friendship matching algorithm"},{"index":7,"claim_id":"claim-fact-7","value":"Featured in Forbes, The Information, San Francisco Chronicle, LA Times and more"}],"team":[{"id":4068065,"entity_id":"wefunder:company_role:4068065","user_entity_id":"wefunder:user:4213309","role":"founder","name":"Jamie Snedden","title":"Co-Founder \u0026 CEO","bio":"Trained architect, Fulbright Scholar, 2nd time founder","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/4068065/square_blob.jpg?1709579142","profile_url":"https://wefunder.com/jamie.snedden.1","linkedin_url":"https://linkedin.com/in/jamiesnedden/","related_urls":["https://wefunder.com/jamie.snedden.1"]},{"id":4241829,"entity_id":"wefunder:company_role:4241829","user_entity_id":"wefunder:user:4323428","role":"founder","name":"Jermaine Ijieh","title":"Co-Founder \u0026 CPO","bio":"Community builder, Product and data lover, 2nd time founder","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/4241829/square_blob.jpg?1709579327","profile_url":"https://wefunder.com/jermaine.ijieh","linkedin_url":"https://linkedin.com/in/jermaine-ijieh/","related_urls":["https://wefunder.com/jermaine.ijieh"]},{"id":4241830,"entity_id":"wefunder:company_role:4241830","user_entity_id":"wefunder:user:4323478","role":"founder","name":"Leutrim Rexhepi","title":"Co-Founder \u0026 CTO","bio":"Full-stack developer, 12+ years experience, 3rd time founder","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/4241830/square_blob.jpg?1709585286","profile_url":"https://wefunder.com/leutrim.rexhepi","linkedin_url":"https://linkedin.com/in/gflr/","related_urls":["https://wefunder.com/leutrim.rexhepi"]}],"featured_investors":[{"id":7108,"entity_id":"wefunder:company_investor_profile:7108","investor_profile_id":1046627,"investor_profile_entity_id":"wefunder:investor_profile:1046627","subject_entity_id":"wefunder:user:1522654","name":"Gale Wilkinson","role_title":"Managing Partner","bio":"Managing Partner at VITALIZE, a VC fund + angel group investing in WorkTech software. Founder at heart, previously starting 2 HR tech companies. Kauffman Fellows Class 23 \u0026amp; member of the OnDeck, Recast, and Oper8r networks.","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NDIyNjksInB1ciI6ImJsb2JfaWQifX0=--50ab17c897cce4c84a061bd6dce63cd1f94a304c/filename","profile_url":"https://wefunder.com/galewilkinson","endorsement_quote":"We are excited about Groundfloor for a number of reasons. The management team has proven their ability to execute since VITALIZE Fund II’s initial investment in August 2022. All three co-founders have extensive startup and operations experience. Groundfloor’s product offering is tech-first, making the experience seamless for customers. We believe that the company has taken a truly unique approach in the space with its focus on tech and community. Lastly, the revenue traction has been impressive as the company has achieved almost $2M in annual revenue. This is a truly unique opportunity for our angels to back a company at this stage.","endorsement_name":"Vitalize Ventures","investment_total":751000,"investment_info":"Invested $1,000 this round \u0026 $750,000 previously","is_lead_investor":true,"related_urls":["https://wefunder.com/galewilkinson"]},{"id":8642,"entity_id":"wefunder:company_investor_profile:8642","investor_profile_id":3813087,"investor_profile_entity_id":"wefunder:investor_profile:3813087","subject_entity_id":"wefunder:notable_investor:12116","name":"Jacob Jaber","role_title":"","bio":"Co-Founder of Philz Coffee","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6OTQ0MzMsInB1ciI6ImJsb2JfaWQifX0=--226989e003a68a722552b52d36e47533237963ea/filename","profile_url":"https://wefunder.com/jacob.jaber.1","endorsement_quote":"Aside from Groundfloor's impressive technology, their most important asset is their ability to connect real people in real life. While others move to focus on building community via screens, Groundfloor focuses on building community in physical spaces. This is much needed as we face a loneliness epidemic and people are looking to build connections and relationships within their communities. Groundfloor has impressive traction and an even more impressive team. I'm excited to be an investor and supporter of their journey.","endorsement_name":"","investment_total":25000,"investment_info":"Invested $25,000 this round","is_lead_investor":false,"related_urls":["https://wefunder.com/jacob.jaber.1"]},{"id":8643,"entity_id":"wefunder:company_investor_profile:8643","investor_profile_id":3813092,"investor_profile_entity_id":"wefunder:investor_profile:3813092","subject_entity_id":"wefunder:notable_investor:12117","name":"2048 Ventures","role_title":"Partner","bio":"Partner at 2048 Ventures","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6OTQ0MzQsInB1ciI6ImJsb2JfaWQifX0=--ef0f3f0acfbcae05f94c84e4c0bfe49fe50b5465/filename","profile_url":"https://wefunder.com/2048.ventures.1","endorsement_quote":"Since the day we met the founding team at Groundfloor, we knew they were building something special - a much needed third space to find friends, build community, and engage with peers. Since we backed them, the team has build a really impressive business, now with multiple locations, multiple-millions in revenue, and hundreds and hundreds of happy members. We are pumped about the team, the company, and of course, the opportunity to continue expanding Groundfloor across new markets and geographies. We're proud investors at 2048 Ventures!","endorsement_name":"Zann Ali","is_lead_investor":false,"related_urls":["https://wefunder.com/2048.ventures.1"]}],"investor_memos":[],"tab_counts":{"posts":0,"ask_questions":10,"featured_investors":3,"faq_entries":5},"active_fundraises":[{"id":104953,"entity_id":"wefunder:fundraise:104953","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"ttw","security_type":"","currency":"USD","testing_the_waters":true,"min_purchase":100,"max_purchase":9,"funding_target":1235000.0,"minimum_target":"50000.0","maximum_target":"1235000.0"},{"id":104952,"entity_id":"wefunder:fundraise:104952","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":100,"max_purchase":9,"funding_target":50000.0,"minimum_target":"50000.0","maximum_target":"1235000.0","funding_started_at":"2024-01-19T22:53:54Z","funding_closed_at":"2024-05-01T04:00:00Z","auto_close_at":"2024-05-01T03:59:59Z"}],"latest_fundraise":{"id":104953,"entity_id":"wefunder:fundraise:104953","state":"successful","offering_type":"4(a)(6)","structure":"ttw","testing_the_waters":true,"can_invest_now":false,"funding_started_at":null,"funding_closed_at":null,"terms":{"eb":null,"nb":"$25M","txt":"valuation cap"}},"recent_posts":[],"q_and_a":[{"id":282781,"entity_id":"wefunder:comment:282781","question":"Hey there, I don't know if this is based on East Coast hours but this looks to be closed? But I had planned to make a modest investment/contribution towards the effort especially after experiencing what it was about (you're running ops amazingly btw). If it's not possible, all good, but wanted to show my support. -Benji","author_name":"Benjamin Boehlke","votes":0,"created_at":"2024-05-01T06:02:39Z","canonical_url":"https://wefunder.com/groundfloorclub#question-282781","answers":[{"id":283424,"entity_id":"wefunder:comment:283424","answer":"Hey Benji! Yes sorry about that, things closed midnight ET. Unfortunately there's no way to take in additional investment now on this campaign, but thanks for the interest and the kind words. I'm so glad to hear that you've had a great experience so far. Hopefully see you soon!","author_name":"Jamie Snedden","votes":0,"created_at":"2024-05-10T16:09:38Z"}]},{"id":280240,"entity_id":"wefunder:comment:280240","question":"Hello, I really like this concept and it seems like you have a good team in place. My question is regarding return on investment. How will investors make money on this? Is there an exit strategy?","author_name":"Kenneth Roth","votes":0,"created_at":"2024-04-01T18:24:35Z","canonical_url":"https://wefunder.com/groundfloorclub#question-280240","answers":[{"id":280850,"entity_id":"wefunder:comment:280850","answer":"Hey Kenneth, thanks for the questions! Investors make money at an exit event, either when we sell the company, go public or conduct a secondary sale. Generally speaking 5-7 years is the exit horizon for most startups and we're 2 years in. It's a bit too early to speculate on exactly what form a exit will take but what we've built is a very unique offering. From an acquisition perspective Groundfloor could make sense for a larger hospitality company, and financial institution or a real estate group. There are many opportunities out there! Let me know if I can help with anything else. Jamie Co-Founder \u0026amp; CEO","author_name":"Jamie Snedden","votes":0,"created_at":"2024-04-08T10:59:14Z"}]},{"id":279496,"entity_id":"wefunder:comment:279496","question":"Hi, when this round is closing?","author_name":"Manuel E. Lugo Recart","votes":0,"created_at":"2024-03-23T03:18:03Z","canonical_url":"https://wefunder.com/groundfloorclub#question-279496","answers":[{"id":280054,"entity_id":"wefunder:comment:280054","answer":"Hey Manuel, closing in a few weeks!","author_name":"Jamie Snedden","votes":0,"created_at":"2024-03-29T04:41:05Z"}]},{"id":279277,"entity_id":"wefunder:comment:279277","question":"Hi Jamie, for the club location, do you buy or sign long term lease? And what is the difference between ur model and wework?","author_name":"Nick Zhang","votes":0,"created_at":"2024-03-21T07:52:22Z","canonical_url":"https://wefunder.com/groundfloorclub#question-279277","answers":[{"id":279471,"entity_id":"wefunder:comment:279471","answer":"Hey Nick, thanks for the question! We sign leases. Few main differences here: - We're not a co-working space (we have 500 members in San Francisco and only 4 desks!). We are a community platform with multi-purpose, modular spaces and most of our activation happens outside of work hours. We actually regularly refer applicants to dedicated co-working spaces if that's what they're looking for! - Decoupling from renting desks means we have 4-5X the number of members per square foot than a co-working space, and we activate continuously (yoga studo becomes coffee shop becomes concert venue). This drives positive unit economics with unit level profitability. - We're tech-first and our app is the key to everything. All operations are managed through the Groundfloor platform (door access, chats, groups, events, payments etc) meaning we don't have front desk staff or complex onsite operations like F\u0026amp;B program, printing or anything requiring staff input. - We only look at spaces where we can open with little to no upfront cost (either \u0026lt;3 month payback or landlord-funded buildout) and that can be opened in 4-8 weeks. We also only focus on residential neighborhoods with small locations (typically \u0026lt;5,000 sqft). Hope this helps and happy to answer any other questions if you have them! Jamie","author_name":"Jamie Snedden","votes":0,"created_at":"2024-03-22T21:52:35Z"}]},{"id":279165,"entity_id":"wefunder:comment:279165","question":"Hi Jamie, I'm Zac from D3VC, a venture fund specializing in promising startups through regulation crowdfunding, guided by AI and meticulous due diligence. In a previous response to these questions, we noticed how you aim for significant expansion, adding up to 12 locations in the next 18-24 months. Given this ambitious plan, and considering your three recent openings in the last year, how does this experience shape your strategy for scaling? Specifically, considering the membership fee of $200/month, how many members are you targeting per location to sustain growth? Moreover, how do you plan to navigate challenges faced by similar models like Soho Club and WeWork, ensuring Groundfloor's long-term success and avoiding common pitfalls? Appreciating your comprehensive approach, and insights on any of these queries would greatly enhance our understanding of your strategic direction. Thanks!","author_name":"Zac Stahlhut","votes":0,"created_at":"2024-03-20T17:35:51Z","canonical_url":"https://wefunder.com/groundfloorclub#question-279165","answers":[{"id":279191,"entity_id":"wefunder:comment:279191","answer":"Hey Zac, thanks for the questions. I actually spoke with Sherwood last year, we've got a couple of mutual connections, so I'm familiar with D3VC! We've spent the past couple years perfecting the rollout process. Our model is to demonstrate sustained demand and de-risk a new community as much as possible before committing to a physical space. We do this by selling memberships to break-even point in advance of opening, so we open at or close to unit-level profitability. Generally this is 200-400 members depending on the location. Our acquisition unit economics are very strong at 31:1 LTV:CAC and we focus on locations where there's little to no upfront cost to us to open, and that we can open doors in 8 weeks or less. Our record is 4 weeks in San Rafael! Without commenting on the specifics of competitors, we're laser focused on unit-level profitability and make sure that each Groundfloor location could stand on its own as a high margin business. We also use technology and a distributed model to eliminate most of the traditional expenses associated with this type of business - our members use our app for everything including bookings, sub-groups, payments, discussions and more. We also decentralize our events and programming and empower our members to host events, start groups and co-lead our locations. This creates a uniquely engaged community whilst further reducing cost and operational complexity for us. Hopefully this helps, and happy to answer any other questions if you have them. Jamie","author_name":"Jamie Snedden","votes":0,"created_at":"2024-03-20T19:26:15Z"}]},{"id":278134,"entity_id":"wefunder:comment:278134","question":"Hi Jamie, Where else are you looking to expand after the LA/Echo Park location opens, and what's the time frame for new openings? As well, what's the exit strategy for investors? Is the hope to sell to PE or to eventually try and go public? What's the timeline for an exit as well? thanks, Adam","author_name":"Adam Rosenblatt","votes":0,"created_at":"2024-03-06T21:38:25Z","canonical_url":"https://wefunder.com/groundfloorclub#question-278134","answers":[{"id":278142,"entity_id":"wefunder:comment:278142","answer":"Hey Adam, thanks for the questions! After Echo Park we'd love to do more LA locations. Our model is small locations in residential neighborhoods, close to home. We believe there's a lot of value in members being able to access more than one location in a single city so they can plug into that neighborhood when they travel across town. We've seen this in the Bay Area locations with a lot of members moving between each location and experiencing the unique programming of each. We've grown very quickly to-date and for 2024 we're focused a lot on investing in the member experience in existing locations, as well as opening Echo Park in a few weeks time. Hard to pinpoint exactly but new locations beyond that would be into the 2nd half of the year at the earliest. Zooming out, our plans are 10-12 new locations over the next 18-24 months, ramping up in 2025 and beyond. We've got waitlists in over a dozen cities across the US, so in theory could go anywhere in the country after LA, so this decision will be more about intentionality and compatibility with existing locations. Generally speaking 5-7 years is the exit horizon for most startups and we're 2 years in. Too early to know what from that exit will take but we're extremely protective over what we've built, and we think it's a very unique offering. Any acquirer would need to be closely aligned culturally with our mission and values. Hope this helps!","author_name":"Jamie Snedden","votes":0,"created_at":"2024-03-06T22:43:53Z"}]},{"id":278116,"entity_id":"wefunder:comment:278116","question":"Hey there Groundfloor Team, your raise shows a $25M valuation cap, but your SEC filings show a $15M cap. Can you please confirm which one is accurate and explain the difference? Thank you! Edited: Sorry, I'm now seeing the $15M cap was from your previous filing in Jan 2024. With that said, can you explain the reasoning behind the $10M increase in only 2 months? Thanks!","author_name":"Dan Devlin","votes":0,"created_at":"2024-03-06T18:15:15Z","canonical_url":"https://wefunder.com/groundfloorclub#question-278116","answers":[{"id":278119,"entity_id":"wefunder:comment:278119","answer":"Hey Dan thanks for the question! $15M was our earlybird valuation cap for the first $100K raised on WeFunder, before increasing to $25M for the rest of the round. $25M post-money is a more reasonable market rate for where we are with traction and revenue, and is the valuation cap we've been raising on outside of this WeFunder campaign. Happy to help here if you have any more questions, or feel free to shoot me an email - jamie@groundfloorclub.com.","author_name":"Jamie Snedden","votes":0,"created_at":"2024-03-06T18:35:38Z"}]},{"id":276494,"entity_id":"wefunder:comment:276494","question":"It would be nice if you had a website link and video like other companies that way I can check out things more. I don't see nothing. Thanks","author_name":"John Webster","votes":0,"created_at":"2024-02-16T22:33:12Z","canonical_url":"https://wefunder.com/groundfloorclub#question-276494","answers":[{"id":276496,"entity_id":"wefunder:comment:276496","answer":"Hey John - thanks for reaching out. Website is here: https://groundfloorclub.com/","author_name":"Jamie Snedden","votes":0,"created_at":"2024-02-16T22:36:14Z"}]},{"id":275521,"entity_id":"wefunder:comment:275521","question":"Hi there, a) What is your most recent monthly burn rate? b) What is your most recent monthly cash on hand? c) Are you raising a parallel angel or VC round simultaneously? If yes, who is investing in this round?","author_name":"Teddy Lyons","votes":0,"created_at":"2024-02-06T00:13:58Z","canonical_url":"https://wefunder.com/groundfloorclub#question-275521","answers":[{"id":275526,"entity_id":"wefunder:comment:275526","answer":"Hey Teddy! Thanks for the questions: - Most recent burn was $38K (Jan 2024) and we're tracking to company-level profitability within 6 months - Most recent cash on hand was $506K (end of Jan) - No parallel VC round; we're offering this opportunity to Vitalize angels only","author_name":"Jamie Snedden","votes":0,"created_at":"2024-02-06T01:11:44Z"}]},{"id":274532,"entity_id":"wefunder:comment:274532","question":"Is it a QSBS business (https://carta.com/uk/en/blog/qsbs/)","author_name":"Guenadi Jilevski","votes":0,"created_at":"2024-01-22T22:58:51Z","canonical_url":"https://wefunder.com/groundfloorclub#question-274532","answers":[{"id":275524,"entity_id":"wefunder:comment:275524","answer":"Hey Guenadi, thanks for the question. I believe so, but we've not had that specific question before and you should check with a tax professional to double check. Let me know if I can help further!","author_name":"Jamie Snedden","votes":0,"created_at":"2024-02-06T01:07:02Z"}]}],"faq":[{"question":"Is it a QSBS business (https://carta.com/uk/en/blog/qsbs/)","answer":"Hey Guenadi, thanks for the question. I believe so, but we've not had that specific question before and you should check with a tax professional to double check. Let me know if I can help further!"},{"question":"Hi there, a) What is your most recent monthly burn rate? b) What is your most recent monthly cash on hand? c) Are you raising a parallel angel or VC round simultaneously? If yes, who is investing in this round?","answer":"Hey Teddy! Thanks for the questions: - Most recent burn was $38K (Jan 2024) and we're tracking to company-level profitability within 6 months - Most recent cash on hand was $506K (end of Jan) - No parallel VC round; we're offering this opportunity to Vitalize angels only"},{"question":"It would be nice if you had a website link and video like other companies that way I can check out things more. I don't see nothing. Thanks","answer":"Hey John - thanks for reaching out. Website is here: https://groundfloorclub.com/"},{"question":"Hey there Groundfloor Team, your raise shows a $25M valuation cap, but your SEC filings show a $15M cap. Can you please confirm which one is accurate and explain the difference? Thank you! Edited: Sorry, I'm now seeing the $15M cap was from your previous filing in Jan 2024. Wi...","answer":"Hey Dan thanks for the question! $15M was our earlybird valuation cap for the first $100K raised on WeFunder, before increasing to $25M for the rest of the round. $25M post-money is a more reasonable market rate for where we are with traction and revenue, and is the valuation cap we've been raising on outside of this WeFunder campaign. Happy to help here if you have any more questions, or feel free to shoot me an email - jamie@groundfloorclub.com."},{"question":"Hi Jamie, Where else are you looking to expand after the LA/Echo Park location opens, and what's the time frame for new openings? As well, what's the exit strategy for investors? Is the hope to sell to PE or to eventually try and go public? What's the timeline for an exit as w...","answer":"Hey Adam, thanks for the questions! After Echo Park we'd love to do more LA locations. Our model is small locations in residential neighborhoods, close to home. We believe there's a lot of value in members being able to access more than one location in a single city so they can plug into that neighborhood when they travel across town. We've seen this in the Bay Area locations with a lot of members moving between each location and experiencing the unique programming of each. We've grown very q..."}]}}}