StartEngine Doubles Revenue YoY in First Half of 20241
This revenue growth has been driven by StartEngine Private, a new product line that offers investments in late-stage companies like Discord, Cerebras, and more. This alone has driven over $11.5M of the $21.6M of the revenue in the first 6 months of 2024. To understand the impact on margins, see financials.
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when combined with our recent asset acquisition of competitor platform, SeedInvest.
What is StartEngine?
StartEngine is a leading alternative investment platform that boasts a community that's invested $1.3B into startups (when combined with our recent competitor acquisition SeedInvest). From emerging startups to funds holding shares of well-known names like Discord, Cerebras, Epic Games and more, StartEngine is your one-stop shop for private investing.
StartEngine Revenue Doubles in First Half of 2024
For full detail and to understand impact on margins, see financials and footnote 1 below.
In November 2023, we launched StartEngine Private, an investing portal giving everyday accredited investors exposure to some of the most popular private venture-backed businesses — without the million dollar commitments. As a result, StartEngine Private's revenue increased from $0 → $14.2M for the new product in just seven months. Our newest offerings provide exposure to some of the largest private companies.
Underlying companies mentioned are not participating nor are direct shares being offered. See footnote 4 for additional details.
Offerings in some of today's most dynamic private companies
We launched our first ever funds
*The underlying companies of the AI Chip Fund are not participating or involved in the offering. See footnote 4 for additional details.
To understand the impact on margins, see financials and footnote 1 below.
StartEngine Private Revenue Growth
StartEngine’s Growth - Leaning In
We've raised over 1,000 rounds for startups, and now, we're aiming to accelerate our growth by bringing on many new sales representatives. In Q2 2024, we've doubled the number of companies who have signed contracts to raise capital on our platform (but not yet launched), compared to the same period last year.
Our Journey So Far
2016:
Equity crowdfunding becomes legal in the U.S., and StartEngine launches
April 2020:
Renowned investor Kevin O'Leary, aka "Mr. Wonderful," joins StartEngine as a strategic partner
Oct 2022:
The platform continues its upward trajectory, reaching 1 million users
Nov 2023:
StartEngine Private launches
Aug 2017:
StartEngine reaches 100,000 users joining the platform
Dec 2021:
Over $500 million raised on StartEngine
Nov 2022:
StartEngine acquires SeedInvest assets, expanding its reach and investor base significantly
Today:
StartEngine's revenue in the first half of 2024 increased over 2X compared to the first half of 2023, driven primarily by its new product line in StartEngine Private.1
Meet Our CEO & Mr. Wonderful
Howard co-founded the video game giant Activision in the 90’s, which Microsoft later acquired in 2023 for $68.7 billion. Prior to StartEngine, Howard also founded and sold Acclaim Games, which was subsequently acquired by Disney. Most recently, Howard co-founded StartEngine with Ron Miller.
Kevin O'Leary, "Mr. Wonderful," is an entrepreneur, investor, and Shark Tank star. He’s a strategic advisor for StartEngine.
“To be honest with you, I had wanted to compete with Howard out of the gate… but after seeing what he had built with the StartEngine team, it made a lot of sense to join him instead.”
Kevin O’Leary is a paid spokesperson for StartEngine. See his 17(b) disclosure, here.
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FOOTNOTES & DISCLAIMERS
1. This revenue growth has been driven by StartEngine Private, a new product line that offers funds in late stage companies. This product line has driven over $11.5M of the $21.6M of the revenue in the first 6 months of 2024. To understand the impact on margins, see financials.
2. Count determined as number of unique email addresses in StartEngine’s database as of 08-27-2024. One individual may have more than one email address.
3. In May 2023, StartEngine acquired assets of SeedInvest, including email lists for SeedInvest’s users, investors and founders. Go here for more details: https://www.startengine.com/blog/seedinvest
4. The underlying companies held by StartEngine Private Funds LLC, and StartEngine Private LLC (together, “StartEngine Private”) are not participating or involved in the offering. The availability of company information does not indicate that the company has endorsed, supports or otherwise participates with StartEngine Private or any of its affiliates. StartEngine Crowdfunding LLC purchases shares from current and former employees, early investors, and advisors of the companies and sells the shares to StartEngine Private for each offering. When you make an investment in a company on StartEngine Private, you are purchasing an interest in a series of StartEngine Private Funds LLC or StartEngine Private LLC, each a Delaware limited liability company (together the “Series LLCs”), which were created to hold shares of privately held companies. An investor will not directly own or hold shares of the private company but instead will own member interests in a series of the Series LLCs, which either directly or indirectly, will hold shares in the company. There may not be a one-to-one economic parity on the value of the Series LLCs interests and the underlying shares.
5. Kevin O’Leary is a paid spokesperson for StartEngine. See his 17(b) disclosure, here.
6. Investors in StartEngine can receive up to 20% total bonus shares based on certain criteria:
Perks Terms & Conditions
10% if you reserved shares during the latest Test the Waters phase
10% if you are a member of the Venture Club. Members get 10% on all investments in eligible offerings for an entire year for an annual fee of $275. This can be purchased at checkout.
5% if you invest between $3,000 and $4,999.9910% if you invest between $5,000 and $24,999.99
20% if you invest $25,000 or more.
Bonus shares in this offering are stackable. The maximum amount of bonus shares that an investor can receive is 20%. Any investor who falls into two of the three categories above will receive 20% bonus shares, as will anyone who falls into all three categories. For example, if an investor reserved shares in StartEngine and is a Venture Club member, they will receive 20% additional shares. If that person also invests over $25,000, they will still receive the maximum of 20% bonus shares. Bonus shares may not immediately appear on your investor dashboard, but will be issued prior to the offering closing.
In order to receive perks from an investment, one must submit a single investment that meets the minimum perk requirement.
* If you are investing via a self-directed IRA, you cannot receive additional perks beyond bonus shares due to tax laws.
THIS WEBPAGE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.