October is officially in the books, and Kibin is looking stronger than ever.
Here's what happened in October:
Revenue & Growth
October revenue came in at $86.3k - an all-time record
Essay database revenue swelled to more than $30k, 50% better than our previous record in April.
We added about 5,000 new essays to our database.
We qualified for, and opened, a $100,000 line of credit. We may or may not use this, but it's nice to have.
We also made some awesome progress on the product. Our search functionality was seriously lacking, making it difficult for students to find example essays in our expansive database. We spent the month reworking our search functionality that's hopefully much more user friendly and helpful. Give it a try and let us know what you think by visiting www.kibin.com/essay-examples.
Last Update & Campaign Closing
This will be our last public update. We've set our campaign close date for November 15th. That's just two weeks away.All future updates will only be for investors. We'd love to have you join us!
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 320 startups
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for 105 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).
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