Social media network MeWe is targeting an $11 million Series B round to invest in web3 products and expand marketing efforts, Axios has learned.
Zoom in: Edell says MeWe hopes to raise an additional $5 million on top of the $6 million it has already secured, led by McCourt Global.
- In April, MeWe opened a community investment round on Wefunder but ended up canceling that and pursuing an institutional round instead. More than 1,000 people had committed to the round in its first 10 days and are now part of an advisory committee through a group on MeWe, Edell says.
- Edell says MeWe had a $175 million pre-money valuation at its Series A.
To read the full article, visit the Axios website here.