In March of 2018 I invested $100 into Are.na via their investment campaign on Republic via a Crowd SAFE (Crowdfunding Simple Agreement for Future Equity). The actual investment in WHEN IT CHANGED, INC., a Delaware Corporation that created and operates Are.na.
The idea of a SAFE was developed by Y Combinator as replacement for the more typical convertible note. A SAFE allows for the same general terms as a convertible note, but a SAFE is not a debt instrument. The contract with Are.na is that I get to convert my $100 into shares on certain conditions but I get a 20% discount on the purchase (in exchange for funding them so early).
Are.na is a visual organization tool used by creatives. They describe it as:
Are.na is a knowledge sharing platform that combines the creative back-and-forth of social media with the focus of a productivity tool — stripping away distractions to let you focus on your ideas.
In their Q1 + Q2 2020 Investor Report they state:
- Over 11k Monthly Active Members
- Premium members (paid accounts) are 40% of MAM
- Added 1,855 new paying members (+9.2%)
- Reached goal of $20k MRR (technically just shy of it)
Goals for end of 2020:
- $35k MRR
I have a few Are.na channels:
- Corporate Memphis (w/ Claire and others)
- Numismatics
- Business Drag
But I haven’t found my own exact use case for it yet.