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Needworking

Needworking is a social platform based on humans helping one another. Our core principle is to break down the barriers and create a diverse, psychologically safe, inclusive platform where people can connect based on what one has a desire to learn and others who have the desire to help or give.

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Security Type
Common Stock
Categories
Technology
Min Investment
$99
Location
Baltimore, MD
Offering Date
September 06, 2023
Expected Close Date
April 27, 2024
Target Raise
$10.00K-$1.24M
Security Price
$0.75
Valuation
$7,500,000
Website
needworking.com
Number of Employees
3
Cash
$1,935
Revenue
$0
Short Term Debt
$0
Cost of Goods
$15,617
Long Term Debt
$0
Net Income
$-15,617

Company Description

Needworking is a social platform based on humans helping one another. Its core principle is to break down the barriers and create a diverse, psychologically safe, inclusive platform where people can connect based on what one has a desire to learn and others who have the desire to help or give.

Needworking is a social networking platform designed to connect individuals with shared needs and interests. The company's goal is to facilitate meaningful connections between people looking for assistance with various projects, whether personal or professional. The platform enables users to create and share project listings, find collaborators with complementary skills and interests, and build relationships with others who share their goals. 

Needworking.com plans to generate revenue through a subscription model and advertising. Its subscription model is planned to offer features and services to its subscribers for a recurring fee, which can provide a steady stream of revenue. Advertising can also be a viable option by placing relevant ads on the website and charging advertisers for the space. Additionally, the company may look at utilizing sponsorship programs and commissions from affiliated products as revenue streams in the future. 

A report by Grand View Research estimates that the global social networking app market is expected to reach $310.37B by 2030, growing at a CAGR of 26.2% from 2023 to 2030. Another survey by McKinsey found that collaboration can improve productivity by up to 25%, yet many individuals struggle to find the right collaborators for their projects. With the need for increased demand for virtual communication, remote work, and collaboration, the company is looking at a successful business opportunity. 

The product is at a pre-revenue stage. The company has signed up many members throughout the US and hundreds of people have fulfilled one another’s needs such as Opening Day Orioles Tickets, College Paper Interviews, and Finding Service Level. The scale of operations is very small and there are not many users yet. 
During the year ended December 31, 2022, the Company had operating expenses of $15,617, resulting in a net loss for the year of $15,617.

Use of Proceeds

The company plans to use the funds for compensation for managers, sales and marketing, R&D, general and administrative, and platform fees.

Management Team / Advisory Board Bios

The management team is good. 

David Carberry, Founder & CEO
David Carberry is an accomplished entrepreneur. With over a decade of experience in business development and networking, David has a proven track record of success in creating and scaling innovative companies. He is passionate about leveraging technology to facilitate meaningful connections between individuals and businesses and is committed to driving Needworking.com to become a go-to platform for professionals seeking to expand their networks and grow their businesses. He currently works on some of his startups simultaneously. 

Eliot Pearson, COO
Eliot Pearson, an accomplished Technical Leader with a remarkable track record spanning two decades in the realm of Software Engineering. With a robust expertise of over 13.5 years in Advertising Technology, Eliot has made significant contributions to the industry. Eliot Pearson stands as a seasoned professional poised to leave an indelible mark on the future of Software Engineering and Advertising Technology. He works full-time at Needworking. 

Ali Muslim, CTO
Ali has a proven track record of success in startups, enterprises, business development, and growth strategy. Throughout his 23-year career, Ali has led cutting-edge product development and technology solutions for a wide range of companies and organizations, including SMBs and large enterprises in the US region such as Sage, SimplyWireless, Herbchambers, RTCA - National Park Services (NPS) and FHI 360. With his leadership and deep understanding of emerging technologies, he has enabled his teams to achieve exceptional results in building innovative, intuitive, and engaging products. He works full-time at Needworking. 
 

Valuation Notes

Currently, the company has valued itself at $8.37M post-money. The valuation looks a little high given the pre-revenue stage.

Amount Raised : $15,389
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Security Description

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

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