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AdWallet

Operating

AdWallet Inc.

Transportation · Albuquerque, NM · Founded 2020

Enables advertisers to reward consumers directly for their attention & data.

Post-money valuation
$19.3M
As of Dec 2021 · from Reg CF Offering (2021) · pre-money + amount raised, not a traded price
Total raised
$317,600
Across 2 rounds since 2021
Latest share price
$0.75
Reg CF Offering (2021) offering price

Financials

FY2018–FY2022 · from SEC filings · hover any figure for its source
$188K
−$1.7M
2018
$188K
−$1.7M
2019
$433K
−$2.5M
2020
$448K
−$1.0M
2021
$384K
−$5K
2022
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2018
FY2019
FY2020
FY2021
FY2022
Income statement
Revenue
$187,901
$187,901
$432,911
$447,827
$384,316
Cost of goods sold
$211,199
$211,199
$574,995
$395,320
$207,113
Gross margin
-12%
-12%
-33%
12%
46%
Net income
-$1,696,278
-$1,696,278
-$2,531,221
-$1,022,056
-$5,079
Taxes paid
$0
$0
$0
$0
$0
Balance sheet
Cash
$812,605
$812,605
$494,690
$22,918
$55,146
Accounts receivable
$17,991
$17,991
$62,644
$132,734
$629
Total assets
$922,463
$922,463
$625,004
$282,638
$161,846
Short-term debt
$227,401
$73,735
$0
$0
$0
Long-term debt
$0
$0
$0
$75,000
$75,000
Total liabilities
$227,401
$73,735
$0
$75,000
$75,000
Other
Headcount
5
4
0

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited; no pill means the filing didn’t state one. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Post-money = pre-money + amount raised · caps marked
$15.0M
Valuation cap
$19.3M
post-money
AdWallet Crowd SAFE 1
Reg CF Offering (2021)

A dashed amber step is a SAFE/note valuation cap — a conversion ceiling agreed for that instrument, not a priced valuation of the company. Steps are not comparable across bases.

Fundraising history

Reg CF Offering (2021)ClosedReg CF · Common Equity · via StartEngine
Raised $86.7K / $385KInvestors 54Post-money $19.3M
AdWallet Crowd SAFE 1ClosedReg CF · SAFE · via Republic
Raised $230.9K / $1.1MInvestors 418Valuation cap $15M

Team

13 people
Adam GreenhoodFounder
President / CEO / Director

Adam founded AdWallet in response to the staggering inability for advertisers to effectively capture, measure and retain the meaningful attention of their target customers. For over 20 years, Adam has been recognized nationally for his leadership within the advertising industry, however (thankfully) his mug shot is still only recognized locally.

Matthew Culler
CFO

Matthew is an experienced startup finance executive, venture capitalist, and investment banker. For the past 15 years, Matthew has been at the nexus of innovation and capital, guiding companies to successful outcomes. An avid traveler, Matt’s visited 30 countries in a calendar year (while taking advantage of every tax benefit known to man.)

Christina Taylor
Bookkeeper
Janice Morrow
Sales
Jason Merkoski
Sr. Technical Advisor

Jason is an MIT-educated technologist with a passion for building software and hardware products. One of the early inventors of the Amazon Kindle, he’s managed product and technology teams at companies like Amazon and Intel, and run technology as CTO for multiple Bay Area startups. He has really cool hair.

Jenae Wallin
Client Success
Shane Francis
Sales
Toby McKenna
Sr. Revenue Advisor

Over the course of her career, Toby has been instrumental in growing the digital business for some of the world’s most recognized brands such as The New York Times, Priceline, American Express, Yahoo and Bazaarvoice. Toby lives with two well-behaved teenagers, a supportive and comedic husband and an adorable Black Lab.

Valerie Martinez
Sales

I have been in the advertising industry for over 10 years and have a true passion for connecting advertisers with consumers that matter most to them. I am a community-focused leader and work alongside several women-based nonprofit organizations.

Show 4 more people
Gavin Christensen
Director

In partnership with the Utah ecosystem, launched Kickstart Seed Fund. Kickstart is a seed-stage investment fund that is the most active investor in the thriving Utah and Mountain West Tech Ecosystem. To date, KSF has invested in nearly 100 companies.

Kyle Lee
Director

Experienced leader and manager in wide variety of industries including Cancer Biology, US Senate, Investment Banking, Semiconductor, Water, Software, Biotech, Telecom, Software, Mining and Education. Currently the CEO of CNM Inginuity. CNM Ingenuity serves over thousands of individuals annually in instruction, testing and outreach through hundreds of program offerings across dozens of professional disciplines.

Robert Wendell
Director

Began career in private equity (VP at Marwitt Capital Partners). Over the past 10 years I've been focused on revitalizing underperforming companies, working to build strong teams that realize their value and embrace the opportunity to exceed expectations. Currently CEO of Envoronmenal Seeds West, LLC.

Stuart Rose
Director

Active entrepreneur and investor with interests in any for-profit startup that solves problems, especially big problems. Fundamentally, I start companies and invest in very early stage companies with the potential to address the way the world will be in the future. I particularly like companies that have disruptive technologies or business models.

Names and titles as disclosed on SEC Form C, StartEngine. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Not requiredFiled Form C-TR (terminated reporting)

Filed 2 of 6 annual reports (FY2020–FY2025)

418 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

  • Form C-TRNov 13, 20230001665160-23-001916
    EDGAR
  • Form C-ARMay 4, 20230001665160-23-001202
    EDGAR
  • Form C-USep 20, 20220001665160-22-002445
    EDGAR
  • Form C-ARApr 5, 20220001815995-22-000001
    EDGAR
  • Form C-UJan 3, 20220001665160-22-000009
    EDGAR
  • Form C/ADec 1, 20210001665160-21-002137
    EDGAR
  • Form C/ASep 3, 20210001665160-21-001582
    EDGAR
  • Form CSep 2, 20210001665160-21-001575
    EDGAR
Source: ManualCIK 0001815995DEShare price $0.75

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.