Frequently Asked Questions
1. Describe your company and the problem you're solving.
Fidarr is building AI-enabled social music streaming & video community application for emerging Christian artists, video content creators, listeners, and music curators. Emerging Christian creatives find it challenging to be discovered whilst making it difficult for their artistic work to be seen, make money and build a career.
2. How is your solution addressing this problem?
Fidarr application with the Interactive features of social media helps emerging Christian creatives to connect with new fans, listeners and grow their careers. It allows Christian creatives to make money to build a career having their songs streamed and creative videos watched. Creatives can receive donations via Fidarr’s virtual currency from users with all features in a single application.
3. How will your company change the world? What is the big picture and vision?
Creating opportunities for the emerging creatives that will solve the poverty issues especially in Africa. To harness the potentials of emerging Christian creatives, allowing them to deploy their artistic skills and billions of people from the Christian population get a chance to be entertained by their creativity. We visualize a platform where Christian creatives can be limitless, providing everyone with a fascinating experience and making money.
4. How big is the market opportunity?
$124 Billion Total addressable market, $34 billion Serviceable addressable market & $4 billion Serviceable obtainable market.
5. How many actual users do you have with other traction records?
2500+ active users, 200+ artists, 700+ tracks uploaded, 20% growth per week, $0 Revenue & Amazon Startup support: 1350 USD worth AWS Activate credit to support our startup development.
6. Can I see your documents?
7. How much are you currently raising?
USD$ 200, 000 (pre-seed funding)
8. How much can I invest in Fidarr? What is my Return on Investment (ROI)?
Equity Model: The total $200, 000 pre-seed round is equivalent to 10% equity in Fidarr Partners Limited. The minimum investment to qualify for share allotment as a percentage of the total 10% equity is $50, 000. That is, you invest $50, 000 for 2.5% equity, $100, 000 for 5% equity and $200, 000 for 10% equity. Investment from $100k to $200k also allows the investor a board position.
Percentage ROI Model: Investors and Angels may also invest as low as $5, 000 to $45, 000 into a pool towards raising the $200, 000 pre-seed round. The Return on Investment (ROI) for the investment is 20% (per annum) payable upon a 5 year maturity period The effective date the interest starts running is when the $200, 000 target pool is realised. Where the $200, 000 is not realised within 3 months, the sum invested by the investor is refunded or the period extended towards getting more funding to achieve the target pool of $200, 000.
NB: The ROI Model offer is open to renegotiations.
9. I am ready to Invest in Fidarr, what's next?
The next step depends on the model you choose, whether the equity model or ROI model. If equity, then an allotment of the appropriate percentage of the shares will be made by the Board of Directors upon confirmation of receipt of the invested sum. The relevant Agreements will also be signed.
For the ROI model, the invested sum will be paid into a special pool account awaiting when the full sum will be achieved. The necessary Agreements will also be signed.
10. As an Investor, are there Redemption Rights for me?
Redemption rights are available and can be exercised by all investors but subject to negotiation with the company.
11. What is the valuation of the Company?
The Pre-Money valuation of the Company is $2, 000, 000.
12. Will I enjoy liquidation preferences for my investment?
Investors who choose the equity model will enjoy liquidation preferences. However, it shall be non-participating.
13. I don't want to invest, I want to make donations to support this project.
This project is massive one, setting sturctures to support the Christian community and the creatives. If you wish to make donations instead to support our startup development and growth, you can get in touch with our CEO, Mr Enyo Sam here: firstname.lastname@example.org or WhatApp +2348081253572. Thank you.