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International - Europe
Date Rated:
Valuation (Pre Money):
Industry: Internet
Location: International - Europe
Platform: Crowdcube
£750,000 Expansion
Valuation: £13,940,520
Date Rated: 07/02/18



Tax Status: None

Business Summary

Wegow is a digital marketplace for live music where users, artists, promoters and brands interact to gain exposure. Wegow already has over a 1.4 million registered users and across all social media channels the company has more than 78k followers. This round of investment will be used to scale up the platform to new markets and consolidate its position in Spain.

Financial Overview




There is insufficient information available to provide a financial overview



The Founders have proven their management expertise and the rest of the team complement them with the required sales, marketing and product development skills.
The management team has a clear understanding of the industry, they have relevant commercial experience and an experienced board of advisors will be supporting them.
The management team is full time and committed to the company. Together, the Founders have invested over €600k to date and they will invest a further €75k into the business in this round.
The global market for live music ticketing is expected to be worth over £17bn by 2021 and Wegow is already addressing 19 countries and expecting to address further related markets.
The team has created a strong platform that has achieved 1.1m monthly unique visitors and the company offers a wide range of content locally and globally.
There are already well-backed startups in the space that could duplicate the social features, but Wegow is also building an in-house algorithm that can target audiences more effectively.
There is insufficient information available to fairly rate this aspect of the business


Wegow has a complete management team with many projects in the pipeline to add further revenue streams that should help Wegow achieve break-even and de-risk the business, expected at the end of the year. Therefore, this round of investment could help to accelerate user growth, commence international expansion and become more appealing to artists and promoters.

New revenue streams and the international expansion should help to underpin the expected growth for the next year but there is no supporting data to confirm this. Furthermore if €50m in GMV, and minimum commission levels of 10% are achieved, investors in this round could expect reasonable returns in the mid-term but they will not enjoy any tax benefits.

Related Links

Crowdcube Pitch


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