In an impressive show of growth, StartEngine, a leading platform in the equity crowdfunding space, announced that their Owner’s Bonus sales reached $62,425 last week, setting a new record for 2023. This milestone comes just 11 days after their previous record and highlights a pattern of consistent upward movement.
The Owner’s Bonus program provides subscribers with 10% bonus shares on eligible raises, full access to the bulletin board on the newly launched Marketplace, and priority on waitlisted offers. This achievement is part of a broader trend of success for StartEngine, as they have been experiencing repeat spikes in Owner's Bonus purchases.
The spikes began appearing approximately a month after the launch of Marketplace, a pivotal addition to StartEngine's offerings. The company also noted a significant uptick in 30-day free trials of its subscription program.
Further contributing to this growth is the flurry of new offerings launched in Q3 alone, which have accounted for over $8 million in investments so far. StartEngine's recent media appearances, including features on the Pomp and Upflip podcasts last week, have also added to their public visibility and traction.
The company is optimistic about its revenue potential, seeing the recent spikes as a positive sign for its financial growth. While spikes are typically considered out of the ordinary,
StartEngine believes that sustaining even a fraction of the current trend could translate into a substantial windfall for the company's top line. Already on track to grow Owner's Bonus revenue close to 1.5 times over 2022, this record is a promising indication of StartEngine's future in the rapidly evolving world of equity crowdfunding.
Scaled over a full 12-month period, the subscription product is quickly becoming a massive revenue stream. Notwithstanding future growth, the Owner's bonus could account for as much as $3.2 million in annual recurring over the next 12 months if this number stays consistent.