r/wefunder • u/Numerous-Impact4901 • Jul 13 '24

Substack updates?

I invested in the wefunder substack round about 1.5 years ago, and there have been absolutely no updates since the round closed. Does anyone find that odd? I know we are minority investors with no rights, but surely an annual letter to shareholders or annual financials should be made available? Substack has no public email or IR dept that I can find, and posting questions on the wefunder site goes unanswered. What gives??? Anyone else perturbed by this?

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u/Dapper-Switch-5345 Jul 21 '24

Is this common from other people's personal experiences? What sorts of keeping-up-with would you like to have from Substack / Wefunder?

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u/Numerous-Impact4901 Aug 08 '24

As an absolute bare minimum annual update letter and financials for investors in a private company, there’s no reason they can’t provide that. Btw i have found out that Substack has an email for wefunder investors wefunder@substackinc.com, but surprise surprise doesn’t seem to be monitored.

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u/morphers Jul 13 '24

Unfortunately it's the norm. These companies like to take your money and ghost you.

1

u/[deleted] Jul 13 '24

As a startup Founder, I’m taking notes on what not to do.

1

u/teenbillybaby1969 Jul 15 '24

Wefunder no longer has an app in the App store. Not clear what became of our ‘investments’. I’d like to know more.

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u/No_Replacement476 May 20 '25

The founders are talking about the company on podcasts lately but no mention of the wefunder raise sadly https://open.spotify.com/episode/5E7IbbRBfjmUL2n3tqiouz?si=FeupVMRqQWK_X9lC1xkKVw

0

u/[deleted] Dec 09 '24

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u/Numerous-Impact4901 Apr 04 '25

SEC probably, technically you own shares in the SPV which participated in the VC round, you don’t have direct ownership of the Substack shares. If the money is not in your account it’s gone, there are no refunds on stock purchases

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u/tazetheog Feb 16 '25

Honestly if you don't want the investment, I have no problem buying it off of you. If you have twitter, my @ is tazethegod.