Question 1

I have a few questions: Firstly, any revenue figures and financials to share? Second, cash position is $65k. With AR and this financing round, how long is the runway? Third, what's the breakdown of fund use? Fourth, how big is the team now and how do you intend to grow it? Las...

Accepted Answer

Hi Edwin, Thanks for your great questions. I see that you have some Venture experience so I will take this opportunity to address your questions with thorough replies as they each require deep and important responses. Our cash position changes dramatically in January, we felt it appropriate to post our current position at the time of filing this fundraising effort with the Securities Exchange Commission. Naturally, our Cash Position fluctuates by day/month, and, depending on the development o...

Question 2

How much is valuation with this company? will you accept other source of income for the app like ads?

Accepted Answer

Hi Mike. Thanks for your question. Our pre-money valuation is approx. $7.3M. Your investment buys actual ownership in Snapwire. If you invest, you're assuming the company will be worth more in the future considering we have a liquidity event.

Question 3

Do you have other form of income aside from selling the pictures? like ads?

Accepted Answer

Hi Mike. Thanks for you question. We do not sell ads on our website or in our mobile apps. We believe that the Snapwire value proposition would be diluted if we did so. As of now, we monetize based on facilitating image licensing. However, as the company grows we see clear paths to profit centers that provide more value to our user base. For the time being, we want to really focus on what we know we do well.

Question 4

Projected revenue for CY2017?

Accepted Answer

Hi John. Thanks for your question. I wanted to run your question by legal prior to responding because (while it may seem surprising) it is usually advised not to respond to questions about revenues. The main reason is because if the company missed it targets after we disclosed our targets, it opens the company to unnecessary liability. I can tell you that our revenue projections are a function of thoughtful analysis of our historic revenues and what we feel we can do in the near future; and o...

Question 5

Hello Chad, if I invest in snapwire will I be getting the profit returns or just the usual perks? Second, after the successful transaction of buying the shares will I be getting to see the routine company's progress sheet? Like what the company is upto?

Accepted Answer

Hi Kunal. Thanks for your message. We are no longer offering common stock on this offering. To prevent dilution of investors in our previous round, we're offering a SAFE with a valuation cap of 4.9M. While the SAFE is considered a non-priced round, the valuation cap serves as assurance that your price won't be greater than the shares sold in our most recent previous offering (which also had a 4.9M valuation). We take our commitment to our investors seriously, and switching to the SAFE allows ...

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