As of November 2019, Divercity.io is now a profitable company. Thanks to our recent focus on monetizing our operation, which includes securing jobs for minorities in the tech industry, we are finally operating in the black. Given our low monthly overhead (we currently spend between $12K and $15 a month) it didn’t take much to hit this milestone but our goal is to continue to build on this momentum. At our current Average Recurring Revenue rate, our gross margin is at a healthy 57%.
Our WeFunder campaign is still ongoing and we are eager to meet the fundraising goal in its entirety soon. There is a lot of work to do and we’re just getting started. With profitable operations, a growing user base, and an increasingly stellar reputation, we are excited to see what the future holds. In the short-term we will continue to focus on strong revenue traction and strengthening some of the core features on our platform including the Diversity Rating and the job board.
Here’s to democratizing access to diverse talent and to bringing the $400 Billion lost annually in the tech industry due to lack to D&I back to it. Check out our campaign here for more info on becoming an investor: https://wefunder.com/divercityio
Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Wefunder Portal LLC
for 300 startups
Wefunder Advisors LLC
for 102 startups
for 3 startups
Curious how well the companies have done? Or how many raised follow-on financing?
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
Join 617,368 investors who funded 386 startups with over $136.5 million1
wefunder.com/updates/125797-divercity-io-is-now-profitable is managed by
Wefunder Portal LLC.
Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Regulation Crowdfunding offerings are made.
Wefunder, Inc. operates sections of wefunder.com where some Regulation D and A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA.
You may also view our Privacy Notice.