The Bonfire offering is now closed and is no longer accepting investments.

Bonfire

Community and Content Monetization Platform

Bonfire

Community and Content Monetization Platform

New York, NY
Social Media
Bonfire is a startup that aims to bolster the cash flow of micro-influencers by connecting them with their fans, and doing so using new engagement features that boost authenticity and community. They are an experienced team of builders, who come from companies in the consumer software applications space. Their product has been developed and worked on by engineers from Apple, Calm, and Patreon.

$57,094

raised
53
Investors
$24M
Valuation
$6.00
Price per Share
$102.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left

$57,094

raised
53
Investors
$24M
Valuation
$6.00
Price per Share
$102.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left
This offering ended on April 27, 2022 and is no longer accepting investments.

Reasons to Invest

Bonfire focuses on bringing people together based on their interests and into a software that evolves the linktree to something more engaging, and currently has tens of thousands of users.
Their platform has industry-high referral rates with a verified virality coefficient of 4 – which means for every user they acquire, they typically get 4 new users as a result
Current user acquisition to revenue ratio of 1:9

Overview


Harnessing the power of community



Bonfire is a content monetization platform and subscription monetization service for creators to generate and build cash flow from their existing fans. We accomplish this by allowing creators to set up paywalled “camps” where they can send their fans to interact with them—creators have absolute control over the look and feel of their Camp, above and beyond a suite of free tools. Bonfire has achieved early success because its business model is built on a foundation of trust and transparency with its creators. We have created an authentic community of creators and fans, and our symbiotic relationship with both are the (not so) secret to our success!

THE PROBLEM


Social platforms weren’t built for most creators



The content monetization and subscription space has a slew of products that help influencers make money. The trouble in our industry is that these products focus only on the highest earners and influencers with the largest following or target a specific niche – leaving millions of creators on the sidelines. Creators have few tools to monetize their platforms. In fact, the average time-to-first-dollar for a YouTube creator is 22 months. (Source) Many renowned people in the VC industry and creator landscape have written about how there is no "creator middle class." (Source) There are truly no tools for the everyday creator to monetize and make real money, which is why ~42 million creators cannot earn a substantive amount of revenue from creating, and resort to doing it part-time. (Source) 


via GIPHY

It is no question that most creators are dissatisfied with the products they're currently offered as professionals. After reading numerous reports about creators' less-than-positive experience on other platforms, and engaging with almost a hundred creators in 1:1 conversations about their monetization plans/strategies, it is clear that "Link in bio" products don't solve most problems, and most payment structures are not a good fit. Market analysts in the creator landscape estimate that there are nearly 49 million creators, with only 2 million of them currently able to sustain themselves professionally. (Source)  Bonfire exists to directly serve the 42 million creators who are passionate about what they do, and work hard for their fans, but can't yet earn a full-time, livable wage doing what they love.


*This testimonial may not be representative of the experience of other customers and is not a guarantee of future performance or success.


While other platforms, like Patreon, are attempting to address these issues, we have seen that their creators consistently report not being adequately supported, and creators are still not able to build/grow their following on the platform. Newer platforms like OnlyFans are targeted mainly toward adult-content creators, which is a deterrent to all other creators from using their services.


THE SOLUTION


We help creators leverage their loyal fans with easy, diverse tools



Bonfire is evolving the core creator tool – the link in bio – to something far more engaging and effective, and we exist to help leverage the loyal fans of unserviced creators by catering to the needs of micro-influencers (influencers who have between 20,000 and 100,000+ followers). We allow influencers to monetize anything they're already offering for free. Such as Direct Messaging, Videos, Live Streams with fans, 1:1 calls (via Zoom), and more – all becoming new revenue streams for creators! We can facilitate these payments easier and quicker thanks to the investment in our financial stack which allows us to build out these features in days, instead of weeks or months. 


Bonfire works by allowing creators to set up groups (known as "Camps") where they can interact with their fans. We utilize our financial stack to develop and implement creator-friendly features, releasing new features (and revenue streams for creators) on a fast-paced schedule, which pushes creators to stay relevant and creative. Our creators are able to generate better, more viral content because we deliberately provide them a favorable creative space: their Camp. With a Camp, creators can now direct their fans to a single place to connect more deeply, giving their loyal fans a home for their favorite creators! Bonfire takes it a step further and adds monetization to a lot of tools creators already use, namely Direct Messaging, 1:1 Zoom Calls with fans, Unlockables (like photos and videos), etc., and collects a percentage from these charged services. This simple yet effective model has yielded us a viral coefficient of 4, so for every new user we acquire brings us another four users.



What is even more impressive than our viral coefficient is our cost-to-revenue ratio for acquiring new creators. We estimate that for every $80 we pay to acquire a creator, we can make an average of $720, which equates to a 1:9 ratio.





HOW WE ARE DIFFERENT


World-class content sharing, community tools, and shareability in one tool


We have been able to leverage hyper-shareability in our beta phase to understand how users engage with content. Through this beta, we learned what makes great UX, while balancing the needs of creators to make the content they are passionate about. Existing tools are restrictive in the way they allow their creators to share (some only allowing .JPEGs/.MP4s to be uploaded, and nothing else), but Bonfire invested heavily in our financial infrastructure to allow all Bonfire creators to monetize just about any type of content.

OUR TRACTION


We are scaling our creator-first business model



In just over a year we’ve amassed tens of thousands more users, a loyal community, and partnerships to bring us even more creators, which is one of the reasons why Rex Woodbury of Index Ventures wrote about what we're doing to help creators monetize and about our success from Bonfire v1.0.


Our creator-first business model provides our creators with a fair and competitive environment that rewards performance, which yields more viral and monetizable content. The viral nature of our business model has led to growth for us. In the future, we will bolster our creator tools to allow creators to share revenue between themselves and other creators on a per-video, per-post, or even at the account level to make finances easier for creators and their earnings. In the future, we plan on building a Bonfire for professional communities and even an "IPO on Bonfire" feature to launch a creator platform and fundraise using metrics like follower count, engagement rates, etc.

THE MARKET


A true creator-first platform



Throughout our UX exploration process and when deciding which features to build, we take creator feedback seriously, making Bonfire highly competitive, the most viable choice for over 40M creators, and overall the best choice for all creators. Bonfire is not just the "financial stack" on top of existing creator tools. We are creator fundraising. We help bring much needed cash flow to creators who know their audience better than anyone, and know what unique things they want to create for the world. 

 


We at Bonfire pride ourselves in being user-friendly for creators and fans alike. Our onboarding is far simpler and streamlined than our competition, which translates to an easier experience for everyone involved. What also sets us apart from our competitors is that we are far quicker at getting our creators set up and adding value to their loyal fans. Through Bonfire, the average time-to-first-dollar is 6 minutes—put simply, a creator can find Bonfire and 6 minutes later be set up to offer a paid tier to their followers.


WHY INVEST


The future face of creator fundraising



Bonfire aims to revolutionize content and subscription monetization. We will achieve this goal because our product’s user experience is unparalleled, our financial stack gives us flexibility and agency to foster growth for creatives, our customer acquisition cost is low and continues to drop, and we have a strong, seasoned team. Your investment in Bonfire paves a lucrative path that will change the landscape of creator fundraising.



Offering Summary


Company

:

Ingenious, Inc.

Corporate Address

:

460 West 42nd Street, Apt. 55J, New York, NY 10036

Offering Minimum

:

$9,996.00

Offering Maximum

:

$1,069,998.00

Minimum Investment Amount

(per investor)

:

$102.00











Terms


Offering Type

:

Equity

Security Name

:

Class B Non-Voting Common Stock

Minimum Number of Shares Offered

:

1,666

Maximum Number of Shares Offered

:

178,333

Price per Share

:

$6.00

Pre-Money Valuation

:

$24,000,000.00











*Maximum number of shares offered subject to adjustment for bonus shares. See bonus info below.

Investment Incentives and Bonuses*

Time-Based:

Friends and Family Early Birds

Invest within the first 6 days and receive additional 20% bonus shares. 

Super Early Bird Bonus

Invest within the following 6 days and receive additional 15% bonus shares.

Early Bird Bonus

Invest within the following 3 days and receive an additional 10% bonus shares.

Amount-Based Perks:

$500+ | Bronze Tier

Early Access to new Bonfire features, and a Bonfire Supporter Certificate badge on your profile. You'll also receive 500 entries to the prize pool for our limited-edition creator pack ($500 value).

$1,000+ | Silver Tier

Early access to new Bonfire features, a Bonfire Supported Certificate badge as well as a verified profile. You'll also receive a Bonfire Swag Pack, and be able to start your very own no-fee Bonfire Camp for your first $500 on our platform. PLUS: receive 1,000 entries to the prize pool for our limited-edition creator pack ($500 value).

$2,500+ | Gold Tier

Early access to new Bonfire features, a Bonfire Supported Certificate badge as well as a verified profile. You'll also receive a Bonfire Swag Pack, and be able to start your very own no-fee Bonfire Camp for your first $1,250 on our platform. PLUS: receive 2,500 entries to the prize pool for our limited-edition creator pack ($500 value).

$5,000+ | Platinum Tier

Early access to new Bonfire features, a Bonfire Supported Certificate badge as well as a verified profile. You'll also receive a Bonfire Ultimate Swag Pack, and be able to start your very own no-fee Bonfire Camp for your first $2,500 on our platform. You'll also be able to get on a 1:1 call with our founder and CEO, and receive 5% bonus shares. PLUS: receive 5,000 entries to the prize pool for our limited-edition creator pack ($500 value).

$10,000+ | Diamond Tier

Early access to new Bonfire features, a Bonfire Supported Certificate badge as well as a verified profile. You'll also receive a Bonfire Ultimate Swag Pack, and be able to start your very own no-fee Bonfire Camp for your first $5,000 on our platform. You'll also be able to get on a 1:1 call with our founder and CEO, and receive 10% bonus shares. PLUS: receive 5,000 entries to the prize pool for our limited-edition creator pack ($500 value).

*All perks occur when the offering is completed.

The 10% Bonus for StartEngine Shareholders

Ingenious, Inc. (d/b/a Bonfire) will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class B Non-Voting Common Stock at $6.00 / share, you will receive 10 additional shares of Class B Non-Voting Common Stock, meaning you'll own 110 shares for $600. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investor's eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Inter company debt or back payments. Salary payments made to one’s self, a friend or relative. Any expense labeled “Travel and Entertainment”. Vendor payments.

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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$215,912.00 USD
$5,400.00 USD
Cash And Cash Equivalents
$175,888.00 USD
$5,400.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$26.00 USD
$0.00 USD
Long Term Debt
$388,500.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$178,014.00 USD
$5,023.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

How Bonfire Makes Money: Creator Winning

6 months ago

Bonfire only makes money when creators make money—we do this intentionally because we are laser-focused on helping creators WIN. So, our current fee structure (as of 12/23) is that a 30% fee is deducted from all transactions—no upfront costs, no deposits, and no ongoing fees. Just one, small, simple fee that is deducted automatically from transactions.


We also offer some additional benefits and discounts to creators. Today, creators who invest in our StartEngine campaign can also get a no-fee camp up to the specified amount—the more you invest (and own a bigger piece of our company!) the bigger the benefits.


We pride ourselves on being the platform by creators, for creators, and we will always take creator feedback seriously. If you are a creator and have some feedback or questions about our platform, please shoot us an email at support@bonfire.camp.

Notice of Funds Disbursement

6 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Bonfire has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Bonfire be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

RSVP to a Q&A with Bonfire’s Founders!

6 months ago

Bonfire is really heating up, and we’re so grateful for the support. Now you can learn even more about our history and why the 42 million creators who work hard every day doing what they love will succeed even more thanks to Bonfire. Watch the video at the top of the page to find out how!


🚨 Special Event: To be as accessible as possible to our investors, we’d like to invite you to a special Live Q&A event! Our  founders, Hugo and Will, will be talking about what’s in store for creators on Bonfire, our plans to grow to support 42 million creators, and take questions. Sign up for the Live Q&A Session here!


We’re just getting started, and creators are already loving our product! Join us to find out why. We can’t wait to welcome the broader community to our platform.

Bonfire is off to a great start. Thank you!

8 months ago

We're off to an amazing start, and we couldn't be more thankful for the support already! We have already raised over $47K, and started having conversations with a number of creators wanting access to the platform now that we're launched... and that's all in only ONE WEEK!

Bonfire's mission is to enable every influencer and creator to make a real, livable wage, doing what they love. We are working tirelessly on our product to ensure we can best serve the hundreds of creators in our sales pipeline, and are pleased to announce we have been able to secure a marketing expert who will be focused on scaling our audience, and working alongside our creators to get them welcomed to the platform. There are so many exciting things in the future for Bonfire, and we will be keeping our campaign page as up-to-date as possible. This isn't possible without our community, creators, and of course, YOU our investors.

If you have any questions about this fundraise, our mission, or even how the Bonfire platform works, please feel free to drop a comment below or open up Bonfire and reach out via your account settings!

- The Bonfire Team

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