Makeba
Easier payments and remittances for emerging markets
Last Funded November 2020
$240,300
raised from 239 investors
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Disclosure: I have a financial relationship with Makeba
Mike Mathioudakis
Sep 15, 2020
Your valuation seems extremely pricey for a pre-revenue company. Can you explain how you came up with this valuation? Frankly, I think you would have raised much more capital by this point if your valuation was more reasonable. Thank you.
Chief Operating Officer
Good Morning Mike. Thanks for your questions. The valuation is based on a steeply discounted cash flow model assuming a customer base of less than 1% of Africa. It is also reflective of the agreements we have forged and clearances we have received from bank partners and governments, respectively, that allows us to operate in 14 countries in Africa and the EU/US. Further, it is reflective of the agreements we have signed and other verbal agreements with government entities who will promote and implement Makeba in their countries and states. It is reflective of all the agreements and interest we have received from the business sectors, which include the Coca Cola bottling company, key food markets, the United Nations, mobile phone network operators, and gas stations.
I read your answers to the previous questions as well as mine and I think you have a great concept/product with lots of relationships already established. But it seems to me with your burn rate and competition, that time is of the essence to get funding, which has stalled on this platform over the last few weeks. As someone else mentioned, the high valuation may be a deterrent. I know I would be more inclined to invest a larger amount with a lower valuation or with some kind of discount.
Good evening, we can set a call to discuss all your suggestions, it will be nice to meet you and answers all your questions. Please add me on LinkedIn. Thank you.
💥Top Contributor
This investor has been frequently Upvoted for their diligent questions
Hi Yamandou,
Please share the letter in response to Xavier Châtellier's questions when it's ready.
Thanks.
Hey Jeff, Xavier questions have been answered. Cheers.
Why is the stock value so high? $300 is a lot for one share
Hi and thank you for your question.
The share price is reflective of the valuation of $30 million and the number of authorized and issued shares, which is 100,000. During the wefunder round, I am selling the shares of the Company that I own as to not dilute previous seed investors.
If your question is in regard to the valuation of $30 million, the valuation is based on a steeply discounted cash flow model assuming a customer base of less than 1% of Africa. It is also reflective of the agreements we have forged and clearances we have received from bank partners and governments, respectively, that allows us to operate in 14 countries in Africa and the EU/US. Further it is reflective of the agreements we have signed and other verbal agreements with government entities who will promote and implement Makeba in their countries and states. It is reflective of all the agreements and interest we have received from the business sectors, which include the Coca Cola bottling company, key food markets, the United Nations, mobile phone network operators, and gas stations.
We are happy to discuss these in detail with any interested investor.
When will this raise be finalized? I submitted a pending request to increase my investments towards the end of your fundraise. Wefunder has had it in a "pending" status since October 2020.
Hello, indeed that round is closed. Thank you
what plan does makeba have for the bitcoin market in africa? Statistics indicate that bitcoin is increasingly used by the young population of the continent, which are the majority. I would like to know if makeba has any plans to join in the bitcoin market of Africa.
Hello, for now, I see great potential in the technology of blockchain, Crypto is a full subject that we will get to in due time.
Cheers
Is it still possible to invest with Makeba
Hi Mr. Benking, yes it is please reach out at info@makeba.money and a team member will reach out to you. Cheers.​
Hi Alexander,
My Account has not been debited for my recent investment, and l'm curious to ask.
Thanks
Hey Tibe, I emailed the team at Wefunder to know what's up with your share purchase. Thank you
I really like the idea behind this business and think there is a lot of potential here. The big concern I have is lack of revenue and burning through $100K a month. Can you give an update on your cash position? I see as of the end of May you had $185K in cash. What does the runway look like if you raise ~$350K on this platform? Do we still only have a few months before another raise or take on more debt? Thanks!
Hello Matthew,
Thank you for your comment and your kind words. Cash flow is indeed tight at this moment and I significantly reduced our operating expenses to ensure that we stay strong while we finish this Wefunder campaign. We are also at a discussion stage to sign a term sheet with other institutional investors to supplement the amount raised on WeFunder. We are targeting to raise about $2 Million before the end of the year to give us a runway for a Series A of $5 Million in May 2021.
Hello, I would please like to read the answers in the letter to Xavier down below. Thank you!
Hi Judah, thank you for your question, the answers to Xavier questions are below is questions. Cheers.