Kargoo

Kargoo

Connecting shoppers with travelers to deliver products by renting the traveler’s unused luggage space.

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Security Type
Crowd Note
Categories
Other
Min Investment
$1,000
Location
Costa Mesa, CA
Offering Date
December 03, 2019
Expected Close Date
March 02, 2020
Target Raise
$200.00K-$1.07M
Deal Notes

Round type: Seed Round size: US $1,070,000 Minimum investment: US $1,000 Target Minimum: US $200,000 Security Type: Crowd Note Conversion discount: 20.0% Valuation Cap: US $4,000,000 Interest rate: 5.0% Note term: 24 months Closing conditions: While Kargoo has set an overall target minimum of US $200,000 for the round, Kargoo must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to Kargoo's Form C. Transfer restrictions: Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Raised to date: US $25,000 US $0 (under Reg CF only)

Company Description

Connecting shoppers with travelers to deliver products by renting the traveler’s unused luggage space.Kargoo is a technologically advanced system set to revolutionize the buying and shipping of products. Shoppers are able to purchase products not available or too expensive to purchase locally and receive the item courtesy of travelers when arriving at their destination.Kargoo eliminates the logistical nightmare and sky-high shipping costs that many people incur when ordering from abroad. Kargoo is committed to making it easier to obtain products from other countries while giving travelers the opportunity to discover the world and earn money on their own terms.With Kargoo, shoppers can avoid expensive shipping fees, lost packages and delayed delivery dates. Kargoo offers shoppers a 100% warranty of their payments through an escrow system, flexibility of payment methods, refunds, and real-time tracking of products. For travelers, Kargoo provides a higher level of trust by allowing the traveler to safely purchase the product and know what they are carrying at all times. Kargoo offers travelers an additional income, express payout methods, and up-to-date information about country regulations.

Perks

Kargoo unique luggage tag
Optional social media shout-out
Kargoo unique luggage tag
Optional social media shout-out
Surprise delivery. Includes one product from a foreign country.
Kargoo unique luggage tag
Optional social media shout-out
Surprise delivery. Includes two products from a foreign country.
Plaque to commemorate this offering
Kargoo unique luggage tag
Optional social media shout-out
Surprise delivery. Includes three products from a foreign country.
Plaque to commemorate this offering
$150 Kargoo gift card
Kargoo unique luggage tag
Optional social media shout-out
Surprise delivery. Includes four products from a foreign country.
Plaque to commemorate this offering
$250 Kargoo gift card
An in-person meeting with the Founder and Executive Team in Los Angeles.

Key Deal Facts

Co-Founder and CEO, Karla Valdivieso, previously founded Komlep, a Product Factory for more than 50 Startups in Latin America, focused on transforming ideas into products via a 4-step product creation process
The global courier, express, and parcel (CEP) market is currently estimated to be $330+ billion USD, and expected to be worth $400+ billion USD by 2024
Currently, the number of digital buyers is estimated at 1.92 billion worldwide, which is projected to reach 2.14 billion by 2021
Shoppers in Kargoo have requested more than $1.5 million in products, over 3300+ orders, since its launch in January 2019
Strategic Advisor, Amy Webb, is an NYU professor and founder of the Future Today Institute

Use of Proceeds

New Hires, Marketing & Sales, Operation Costs, Office Costs

Management Team / Advisory Board Bios

Karla Valdivieso
CEO
Karla, the CEO of Kargoo, is committed to making the world a more connected and united place by making it easier to obtain products from other countries while giving travelers the opportunity to earn money as they travel. For more than 8 years, Karla has been heavily involved in the startup ecosystem in Latin America and has been focused on the future of shared cities through sustainable development via emerging markets and sharing economy. To further pursue this dream, Karla founded Komlep in 2012 - a Product Factory, focused on transforming ideas into products via a 4-step process for Startups in Latin America. Karla is a proud member of Global Shapers and Shaper Impact Capital. Has lead several tech events including bootcamps and Startup Weekends as an Organizer and has 10+ years of experience in UX / UI design, product management, and business development.

Carlos Monsalve
CTO
Carlos has 10 years of experience in systems development. His passion for technological innovation, led him to work as director of the infrastructure, operations, and services through Quipux for the government of Brazil and Colombia.Carlos was CTO of Komlep, a factory of digital products for more than 6 years and has worked as a software developer with 20+ Startups in Latin America.As the CTO of Kargoo, his vision is focused in process automation and innovation through machine learning.

Deal Notes

Round type: Seed Round size: US $1,070,000 Minimum investment: US $1,000 Target Minimum: US $200,000 Security Type: Crowd Note Conversion discount: 20.0% Valuation Cap: US $4,000,000 Interest rate: 5.0% Note term: 24 months Closing conditions: While Kargoo has set an overall target minimum of US $200,000 for the round, Kargoo must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to Kargoo's Form C. Transfer restrictions: Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Raised to date: US $25,000 US $0 (under Reg CF only)

Amount Raised : $136,600
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Security Description

A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.

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