Making the online world a friendlier place!

Friendbase is an avatar based social network where young people from all over the world meet new friends, chat, play games and learn in fun and friendly place. Friendbase vision is to become the global platform for young teenagers all over the world. Our core values are: Entertainment, Cultural Globalization, Education, Safety. Friendbase is cross platform available on iOS, Android and Web.

We address two issues; More than half of teenagers online report to have been bullied or threatened – we need to treat safety seriously. Secondly, the gaming industry is heading even faster towards that gaming should be social, and we want to be instrumental in pushing this forward.

We have created a platform with a focus on fun and friendship. A moderation tool is in place but we want to take this a step further. By adding collaborative games we teach the value of co-operation. By adding quizzes for fun and lots of facts, we teach about cultural differences to create a bigger understanding for differences. In addition, we develop tools through gamification and AI to encourage good behavior instead of only banning and punishing bad.

URL: www.friendbase.com
Sector: Social network / edtech
Team size: 6
Established: 2013

Revenue of last year: $11K
Capital Raised: $376 K
Burn Rate: $8K/month but after capitalization $25K per month
Valuation: $2M Pre-money
Capital Sought: $0.3M
Minimum Ticket: $10 000

Closing Date: 2020-09-15

Cap Table:
Corrigenda AB 50,6% (CEO)
Andreas Rehnberg 17,1%
Djäkne SS II AB 18,2% (Ejermark)
Melika Sanati 1,8%
Business angels 12,3%

The main user groups are teens in the age range 13-16. However, we see that in some Asian markets our user base is up to 20 years of age. The size of the market is huge and growing. The revenue on the global games market is estimated to reach $164.6Bn 2020 with a global growth of +8.5% YoY.

Friendbase had 600 000 new accounts created reaching 85 000MAU during the active beta version running for 18 months. Members divided 60/40 between female/male. The largest user base in is Brazil, followed by Turkey, Egypt, US, Philippines and India. Considering the growth in mobile gaming is +20% YoY in Latin America and +10.7% YoY in Asia Friendbase is well set to be part of these growth markets and at the same time having a foothold in the more mature US market.

B2C sales to members through in app purchases, VIP membership subscription, sale of virtual items such as clothes, looks, emojis, pets, furniture etc. This also leads to a second hand market for virtual goods. We have run small tests to check our members’ willingness to purchase virtual goods and the results are positive. B2B sales such as advertisements, product placement, sponsorships, events and licensing fees.

To date, there has been minimal marketing spend, only sharing Facebook postings and trials run with ads. The marketing strategy forward will be a mix of in app advertising, advertising online on social platforms such as Facebook, Instagram and You Tube and campaigns with brands. Push notifications and newsletters, collaboration with influencers, in-game viral mechanisms and finally collaborations with companies such as Tilting Point for user acquisition.

For more information, please contact deborah.lygonis@friendbase.com