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Momento Labs

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Security Type
Common Stock
Min Investment
Offering Date
August 23, 2023
Expected Close Date
November 22, 2023
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Company Description

Momento AI opens up a whole new realm of possibilities by creating a new class of content creators, where users can explore endless opportunities with their AI clones.

The company has a very unique product. Momento AI is a social AI cloning platform that allows AI clone creators to monetize and train their very own Al clones. Momento AI has developed a state-of-the-art Al cloning platform with a "no code" approach that ensures that individuals, regardless of their technical expertise, can effortlessly mold and shape their virtual replicas, creating authentic and deep interactions that resonate with users on a profound level. The integration of historically accurate and real-time data training coupled with its proprietary language model enables Al clones to not only mirror the knowledge of their creators but also evolve alongside them. This evolution empowers AI clones to engage in fluid and natural conversations, making the experience remarkably lifelike. The clone can speak like, sound like, and think like the creator within minutes. The platform allows the creators to monetize their AI social presence by connecting with their audience and transforming their virtual personas into potential income streams. The creators finally have full control of their online presence and can set restrictions and safeguards to protect their brand and intellectual property. By 2024, consumer retail spending via chatbots worldwide will reach $142B, up from just $2.8B in 2019, according to Juniper Research. The market is expected to be driven by the increasing demand for personalized content, the rise of the creator economy, and the advancement of Al technology. The market is not very competitive in the case of AI social networking platforms. Some existing competitors include Character AI, Inflection AI, and Personal AI and a lot more innovation can be expected in the future. 

Momento AI is currently in the early stages of development with a devoted and engaged user base, a waitlist exceeding 12,000 enthusiastic clone creators, and Momento AI being named #1 Product of the Day on Product Hunt. The platform has been launched for iOS and Android, and it is currently generating revenue. The company has 8 new product and service launches planned over the next 12 months, including instant language translation, live experiences, paid partnership collaboration, and branding opportunities for creators. The revenue for 2022 was $154k against no revenue in 2021. The gross margin was $0 in 2022.

Use of Proceeds

The company plans to use the proceeds for R&D, marketing, working capital, company employment, and platform fees.

Management Team / Advisory Board Bios

The company has advisors and investors with a strong tech background. The management is very strong

Julian Rodriguez, Founder & Chief Executive Officer
Julian is a serial entrepreneur, 2nd-time venture capital-backed tech founder, and innovation-focused strategist. Julian loves leading teams that build easy-to-use products that solve large problems. In 2013 he joined Bitcoin Magazine and worked directly with its Co-Founder Vitalik Buterin. Julian was a very early team member and advisor to several successful blockchain projects including the wildly famous Ethereum. He focuses on the company vision, product, and day-to-day running of the business. He is a second-time founder and currently works full-time with Momento Labs. 

Nelson Sarco, Chief Marketing Officer
Nelson is a seasoned digital marketing executive with over 12 years of experience in SEO, ad tech, social media, and digital paid advertising. Formerly a Partner at GroupM; a WPP company, Nelson has led campaigns with Fortune 100 companies and global brands such as Viacom, CBS, Paramount, Volkswagon, Tiffany & Co, LVMH, Colgate, Vaynermedia, and Marriot. Nelson leads all of the marketing and growth initiatives. 

Valuation Notes

The company has secured $4.5M in funding from renowned investors like Mark Pincus, Animoca Brands, Ripple, and Cadenza Capital. It has valued itself at $30M pre-money. While the prospects are great, the company has yet to prove its market traction and it may be very long before it can start getting noticeable revenues from subscriptions by platform users. The company looks overvalued.

Amount Raised : $154,938
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Security Description

Common stock is a security that represents ownership in a corporation.

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