Welcome to WeFoundd!

We partner with tech startups on tangible missions and acquire businesses that fit our vision.

WeFoundd started out as a Startup Studio and Business Incubator that was on a mission to help idea-stage tech startups develop their platform, launch and grow. While we still operate under those same pretenses, our interests have drastically evolved and we now also deal heavily in business acquisitions.

Our team is comprised of more than three dozen talented individuals who all share one common goal: to help the startups that we partner with, and the businesses that we buy; succeed. We do so by leveraging our expertise across a multitude of professions, such as: design, development, marketing, operations, finance, legal and more.

With regards to partnering with tech startups: In exchange for our services and involvement, our partners pay us with cash and some equity or cash alone. In the case of business acquisitions: we typically buy well established businesses that are past breakeven.

With a keen understanding of the design, development and marketing landscape we have set out to pioneer new paths of efficiency to help our portfolio companies get off the ground with minimal friction and maximum education. 

We have developed a thorough appreciation for startup methodology and modern business thought. And we believe that with proper guidance, our partners can too. 

With a profound love for tech startups, UI/UX design and the future of application development in general, we’ve helped dozens of entrepreneurs navigate the beginning of their startup journey. As well as, assisted in the departure of many seasoned businesses owners from their business. 

Tech Startups:

Q: Do you take sweat equity alone?

A: No. The reason we strictly adhere to a cash/equity split deal, is to ensure three main things: The founder’s ‘skin in the game’. e.g. something to lose. The founder’s are serious and capable! We only want to partner with promising ventures with lower risk of failure. Great ideas are meaningless in the startup world – people and teams are everything. Founders with the ability to front or raise some funds, demonstrate their seriousness and capability. This helps lower risk. To ensure our strong sense of responsibility. You see, for the tiny percentage of startups who do go onto finding a technical co-founder for equity alone, there’s absolutely nothing keeping that individual from bailing as soon as things get tough or they lose patience. At WeFoundd, with cash and a contract being exchanged, we lock ourselves in professionally to the venture and bind ourselves to it’s success, regardless of circumstance. As you can see, the cash actually serves to protect the startup at large and the partnership itself from the start. In terms of cash, we save startups between 30-150K. Which is often what it would cost to build the platforms that we develop.

Q: What kind of platforms do you build?

A: Whatever gets the job done! Every startup is unique. Some need a website as an MVP, some need a custom web application as an MVP. Still others need a mobile app as an MVP. Whatever the determination is, that’s what we build. We can also help you determine your MVP requirements.

Q: What languages do you code?

A: We prefer to build platforms in the following languages: Backend: Python, NodeJS, and PHP. Frontend: ReactJS and HTML5 (adaptive)

Business Acquisitions:

Q: In what criteria do you invest?

A: Our favorite type of business is in the web hosting, Voip, domain name, IT vertical. However, we also have a soft spot for recession-proof businesses like liquor stores, assisted living and more. Truthfully however, we’re open to anything. If it piques our interest…

Q: How much do you invest?

A: Our typical investments range between $100,000 and $1,500,000. However, if the numbers are juicy and hard to ignore, we may step out of our comfort zone and invest up to $3,000,000.

Q: Where do you invest?

A: We own a lot of entities in Baltimore, MD. However, a lot of our portfolio companies are online and don’t really have a set location. While we are very familiar with the US market, we do consider global investments too.

Tech Startup Qualifications

Our criteria for choosing which startups to co-found is dynamic. Much of which, cannot be put into words but must be felt and experienced through conversation. However, as a general rule, we look for startups that already have designs complete, some capital, a strong team and a marketing strategy. Founder’s must be knowledgeable in their respective industry and forthright.

Needless to say, the idea must appeal to us. We must believe in the idea as strongly as you do. We must believe in its ability to find product market fit and scale. More than anything, however, we must truly believe that we can build the MVP in a timely manner and go live (usually) within 8-12 months.

What we bring to the table when we partner with tech startups

We bring two levels of technical assistance to the startups that we partner with:

  1. Project management.
  2. Development. 

Nate Mandel assumes the responsibility of project management, while Soren Olsen assumes responsibility of IT management. Combined, we are a cohesive unit that can handle the entire development life cycle.

By covering two important aspects of the technical side, we are able to bring much more value to our startups. (Versus the value you get by just bringing in a developer to code.)

Project management
  • Management of the entire development cycle.
  • Wireframes, spec sheets and documentation as needed. 
  • Platform development, design management, task creation and communication. 
  • Development, server and infrastructure organization.
  • Weekly development feedback and updates to other founders and investors.
  • Provide startup insight and recommendations based on experience. 
  • Answer all partner inquiries, startup and/or technical questions as needed within 24 business hours.
  • Development.
  • Documentation.
  • Server Infrastructure.
  • Testing and debugging.
  • Deployment.

Software/App Development Pricing

We’ve done this enough times to know that there are typically one of two ways this can go (with rare exception):

  1. Your idea is fairly simple and a team of 5 is sufficient to reach a timely MVP.
  2. Your idea is complex and a team of 7 is needed in order to reach a timely MVP.

If your idea is determined to be ‘simple’, that would indicate that we believe that we can complete the development of the MVP with a team of 5 people. Duration being 8 months + 2 for testing and debugging.

If your idea is determined to be complex, that means that we believe that we need a team of 7 people in order to deliver the MVP within 8 months + 2 for testing and debugging.

We DO NOT promise MVP’s quicker than 8 months. We’ve learned from experience that doing so puts too much strain on the team and quality is diminished. We do not compromise on quality.

Now that you understand team/personnel size, let’s talk numbers and equity.

Co-Founders Nate and Soren make up two of the team members always. Nate is responsible for project management. Soren is responsible for IT management and quality control. The cost for Nate and Soren’s service is $1,500 per month each. That’s $3,000 per month for both.

The remaining team members are frontend and backend developers. All highly experienced and well adapted in working as a team. Our developers work at a rate of $2,500 per month each. That equals $7,500 per month for 3 developers or $12,500 per month for 5 developers.

The only additional cost involved in this early stage is hosting and UI/UX design.

Hosting: We typically need 2 servers during development and certainly after launch. During development those 2 servers will run you less than $100 per month. After launch price depends on infrastructure and server requirements.

UI/UX design: If you already have a completed User Interface design, we can skip this stage. If you would like for our team to design the User Interface for your app, it will cost an additional $3,000. You can catch a glimpse of our quality here: https://www.behance.net/wefoundd 

Now let’s crunch some numbers!

If you have a simple app and you only need the team of 5, you would be looking at the following numbers to get you to a completed and polished MVP:

Nate & Soren: $3,000 X 10 months  = $30,000.

3 Full-time developers: $7,500 X 10 months = $75,000.

Hosting: $100 X 10 months = $1,000

User Interface design: $3,000

Grand Total to reach simple MVP: $109,000.

If you have a complex  app and you need the team of 7, you would be looking at the following estimate to get you to a completed and polished MVP:

Nate & Soren: $3,000 X 10 months  = $30,000.

5 Full-time developers: $12,500 X 10 months = $125,000.

Hosting: $100 X 10 months = $1,000

User Interface design: $3,000

Grand Total to reach complex MVP: $159,000.

Of course, you can use our services to develop your app at the above pricing. As we do offer our development services without strings attached. But if you would like to ease that number and give up equity in exchange (granted we accept your pitch), we offer the following:

In exchange for 7% equity, we will give you a 45% discount on the above development pricing.

In exchange for 15% equity, we will give you a 65% discount on the above development pricing.

In order to be considered for the equity discount, you would have to pitch us and we’d have to be interested in your venture personally. As explained on the qualifications tab.

Want to pitch us?

We would love that!

But before you do, please make sure you read through our FAQ tab along with all the other tabs on this page to determine like-mindedness and synergy.

If you think we are a match, we would be happy to hear from you.

Please email Nate at: nate@wefoundd.com.