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WiTopia, Inc.

Operating

Software & AI · Reston, DE · Founded 2003

Fast & easy VPN and encrypted email services

Post-money valuation ⓘ
$15.3M
As of Mar 2022 · from Reg CF Offering (2021) · pre-money + amount raised, not a traded price
Total raised
$0
Across 1 round since 2021
Latest share price
$1.77
Reg CF Offering (2021) offering price

Financials

FY2019–FY2020 · from SEC filings · hover any figure for its source
$2.0M
$267K
2019
$1.9M
$78K
2020
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2019 reviewed
FY2020 reviewed
Income statement
Revenue
$1,957,459
$1,910,679
Cost of goods sold
$706,477
$721,066
Gross margin
64%
62%
Net income
$266,655
$77,902
Taxes paid
$0
$0
Balance sheet
Cash
$238,976
$82,293
Accounts receivable
$0
$0
Total assets
$417,824
$125,073
Short-term debt
$56,607
$59,092
Long-term debt
$536,925
$553,991
Total liabilities
$593,532
$613,083
Other
Headcount
—
9

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, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$15.0M
pre-money
Reg CF · Common · Sep 2021

Blue bars are the pre-money valuation the company stated for a priced round.

Fundraising history

Raised $0 / $1.1MInvestors 176Post-money $15.3M

Team

2 people
Steven ShippaFounder
CTO

Steve has almost 30 years of experience in internet, network security, and systems engineering. Steve began his career as a Network Engineer for Telos, where he spent time as a system administrator of Mac, Windows & Unix systems as well as gaining experience with Cisco routers, local and wide area networking, and where he first experienced the “Internet." Steve then joined internet startup UUNET Technologies (Now, Verizon Business), the world's first commercial internet provider, as a Sales Engineer. Over the next few years, Steve built and scaled the Sales Engineering team from 3 to about 150 headcount, globally, and oversaw the support and solutions design for sales revenue growth from 7M to over 6 Billion USD. He was then chosen to lead the Internet and Systems Engineering team (250 headcount) where he had responsibility for the integration and day-to-day operation of UUNET's authentication network which supported 25 million customer sessions a day and 3 Billion USD in annual revenue at its peak. Steve was then selected as a direct report to the CEO to help rebuild the company's struggling Web Hosting business. He managed development of the network architecture for UUNET/MCI's suite of hosting products worldwide supporting exponential revenue growth with his expertise in repeatable and scalable solutions. He then co-founded Full Mesh Networks, Inc in 2003. Originally focused on cloud-based WiFi Security solutions, the name was changed to WiTopia, Inc. and was an original innovator of the "personal" VPN and, now, "encrypted email for everyone" with their new SecureMyEmail service. He holds a B.S. in Computer Science from Houghton College.

William BullockFounder
CEO

Bill has 28 years of experience in telecom, internet, and network security. He began his career as an Account Executive for AT&T and then, figuring the internet sounded like a promising concept, gave up his suits for jeans to work in Sales for a startup that became the first commercial internet provider. It was a good decision as UUNET (Now Verizon Business), grew to carry approximately 50% of the world's internet traffic. Within 3 years of starting, he was promoted to VP level where he built and led the core sales team responsible for sales of Internet access and network security solutions to all Commercial, Wholesale Carrier/ISPs, and the Federal and State Governments across a 10 state region, including Washington, DC. In this role, he also built specialized teams selling Web Hosting, Security Solutions, VAR/Reseller Programs, as well as managed field offices primarily focused on IP VPN and Complex Corporate Dial Solutions. Next, in a role reporting directly to the CEO, Bill was challenged to rebuild and lead the Sales effort for UUNET's Web Hosting Division, which required significant adjustments to staff, processes, and procedures, as well as new business development - including recommendation of acquisitions and partners to enhance UUNET's managed hosting product suite. He led the core team in the organic growth of overall hosting revenue from $50 million annually to over $240 million before joining NTT/Verio as VP of Broadband Sales, where he led Sales, Sales Engineering, and Account Management. Growing weary of the corporate world, he then co-founded Full Mesh Networks, Inc in 2003. Originally focused on cloud-based WiFi Security solutions, the name was changed to WiTopia, Inc. and was an original innovator of the "personal" VPN and, now, "encrypted email for everyone" with their new SecureMyEmail service. He holds a B.A. from Clemson University in Political Science/English.

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

Reg CF annual-report compliance

Delinquent

Filed 0 of 5 annual reports (FY2021–FY2025)

Missing: 2021, 2022, 2023, 2024, 2025

176 investors
holder-count proxy

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

SEC filings

  • Form C-UMar 8, 20220001665160-22-000406
    EDGAR
  • Form C/ASep 7, 20210001665160-21-001595
    EDGAR
  • Form CSep 7, 20210001665160-21-001593
    EDGAR
Source: ManualCIK 0001878334DEShare price $1.77

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.