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- Freechat
Freechat Revenue, Valuation, Funding & Investors
Freechat is valued at $800M as of January 2024, a 20.0x multiple on its last reported $40M revenue.
Last Freechat valuation
$800M
Series A · Jan 2024
Last Freechat funding round
$80M
Series A · Jan 2024
Freechat revenue
$40M
Series A · Jan 2024
Key investors in Freechat
Neilson Lee
About Freechat
Freechat is a decentralized social network on blockchain with DID verification, NFT integration, and AI-driven content recommendations via machine learning. Users post updates, join communities, play games, and make encrypted payments in crypto. Freechat's platform hosts UGC, smart contract ads, and privacy tools across distributed ledgers for global access.
Founded
2022
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Advertising
Revenue
$40M (Jan 2024)
Valuation
$800M (Jan 2024)
Freechat Valuation
Freechat is currently valued at $800M, based on its Series A in January 2024.
Freechat's valuation has grown 22x from $37M at its seed round in August 2022 to $800M in January 2024, across 2 priced rounds.
Freechat valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2024 | Series A | $800M | 20.0x |
| Aug 2022 | Seed | $37M | - |
Freechat Revenue
Freechat's latest recorded revenue is $40M, as of its Series A in January 2024. At a $800M valuation, that implies a 20.0x revenue multiple.
Freechat revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2024 | $40M | $800M | 20.0x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Freechat Funding History
Freechat has raised a total of $82M across 2 funding rounds.
Freechat's first fundraising round was a $2M seed round in August 2022. The most recent completed round was a $80M Series A in January 2024.
Freechat funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2024 | Series A | - | $80M | $800M | Freechat is a blockchain-based social platform founded in 2022, focused on Web3 features like privacy, security, user-controlled data, and decentralized social networking. It builds on Freechain, an application-layer public chain supporting social message relays, private networks, decentralized storage, AI computing, and order books. The platform offers chat, community operations, creator plans, short videos, and community squares, aiming to create an open, free, and safe social space. Freechat completed an $80 million funding round, achieving a post-money valuation of $800 million, though investor identities remain undisclosed, sparking some industry skepticism. This follows a $2 million seed round in August 2022 funded by founder Jack Long and another investor. The new capital will enhance Web3 features, expand into overseas markets, and launch a Creator Incentive Program for graphics, text, videos, and other content to attract global creators. Traction includes daily market transaction volume nearing $200,000, 40% user retention, and strategic Bitcoin reserves: early purchase of 78 BTC for $16,000 now valued at $3.432 million (at $44,000/BTC). Founder Jack Long projects $40 million annual revenue for 2024. The associated FCC token traded at $0.04 with $751 24-hour volume and $36 million market cap as of January 19, 2024, amid questions on funding validity given token metrics. |
| Aug 2022 | Seed | Neilson Lee (lead) | $2M | $37M | - |
Who has invested in Freechat?
1 investor has backed Freechat across its funding rounds, including Neilson Lee.
Lead investors include Neilson Lee.
Freechat Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Freechat investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialFreechat Competitors
Freechat competitors include listed companies like Strive, Yalla Group, Hello Group and VNG Corp., and private ones like mobli and Rilla.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $4M | ($21M) | $2.7B | 316.5x | ||
| Publicly listed | $342M | $128M | $827M | - | ||
| Publicly listed | $1.5B | $215M | $704M | - | ||
| Publicly listed | $420M | $23M | $657M | - | ||
| Private | - | - | $1B | - | ||
| Private | $40M | - | $737M | 18.4x |
Freechat Public Comps
Freechat is still privately-owned, but its public comps include BitGo Holdings, Arabian Contracting Services, Yalla Group, Plan B Media, APG SGA, Entravision, HashKey Holdings, Truecaller, Hello Group and VNG Corp..
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $16B | ($9M) | 0.1x | 5.5x | (125.1x) | 125.4x | |||
| $521M | $353M | 4.6x | 5.1x | 6.7x | 9.4x | |||
| $342M | $128M | - | - | - | - | |||
| $286M | $66M | 3.4x | 3.2x | 14.7x | 7.2x | |||
| $398M | $52M | 1.8x | 1.7x | 13.3x | 12.3x | |||
| $448M | ($71M) | 1.9x | - | (11.8x) | - | |||
| $92M | ($109M) | 6.4x | - | (5.4x) | - | |||
| $195M | $61M | 3.2x | 3.4x | 10.2x | 11.8x | |||
This data is available for Pro users. Sign up to see all Freechat competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Freechat
| When was Freechat founded? | Freechat was founded in 2022. |
| Where is Freechat headquartered? | Freechat is headquartered in Hong Kong, Hong Kong. |
| Is Freechat publicly listed? | No, Freechat is a private, VC-backed company. |
| What is Freechat's valuation? | Freechat was last valued at $800M in its Series A in January 2024. |
| How much funding has Freechat raised? | Freechat has raised $82M across 2 funding rounds. |
| What was Freechat's last funding round? | Freechat's last funding round was a $80M Series A in January 2024. |
| Who are Freechat's investors? | Freechat's investors include Neilson Lee. |
| What is Freechat's revenue? | Freechat's latest recorded revenue is $40M (January 2024). |
| What is Freechat's revenue multiple? | Freechat's latest valuation implies a 20.0x revenue multiple ($800M valuation on $40M of revenue). |
| Which companies are comparable to Freechat? | Companies comparable to Freechat include Strive, Yalla Group, Hello Group, VNG Corp., mobli and Rilla. |
See companies similar to Freechat
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