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Security Type
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Convertible Note
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Categories
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Technology, Retail
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Min Investment
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$6
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Offering Date
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June 18, 2020
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Expected Close Date
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September 18, 2020
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Target Raise
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$50.00K-$1.07M
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No. Investors
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683
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Security Price
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$1
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Deal Notes
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6% interest
20% discount
$25K+ pro rata right threshold
- Number of Employees
- 15
- Cash
- $418,623
- Revenue
- $877,311
- Short Term Debt
- $536,491
- Cost of Goods
- $4,188,158
- Long Term Debt
- $100,000
- Net Income
- $-4,266,061
Company Description
We operate a global marketplace at scale, seamlessly connecting lifestyle brands and retailers with consumers across the globe. Discerning consumers shop Fancy for the most interesting products in the world. We address those seeking to purchase unique and socially relevant goods that reflect their personalities. Innovative brands use Fancy’s proprietary platform and tools to drive awareness and engagement with our eclectic, international clientele.
Perks
Invest $500+ for 15% off all orders on Fancy for life and a hat
$1,000+ 15% off all orders on Fancy for life plus free shipping on all orders and a hat
$2,000+ 20% off all orders on Fancy for life plus free shipping, a hat, and hoodie 20% off and Free Shipping code for life. Fancy Hat and Fancy Hoodie.
$10,000+ 25% off all orders on Fancy for life plus free shipping, a hat, hoodie, and concierge service
Invest $500+ for 15% off all orders on Fancy for life and a hat
$1,000+ 15% off all orders on Fancy for life plus free shipping on all orders and a hat
$2,000+ 20% off all orders on Fancy for life plus free shipping, a hat, and hoodie 20% off and Free Shipping code for life. Fancy Hat and Fancy Hoodie.
$10,000+ 25% off all orders on Fancy for life plus free shipping, a hat, hoodie, and concierge service
Key Deal Facts
An authentic lifestyle brand with 2M+ lifetime transactions across 120 countries.
12M+ accounts created since our inception.
900K monthly active users, 2.7M active app installations, and 1.1M daily email subscribers
Established partner relationships with 800+ brands.
Experienced leadership team with multiple previous exits.
Board incl. François-Henri Pinault, founder of the Kering Group (Gucci, Saint Laurent, Balenciaga).
Board incl. Jim Pallotta, co-owner of the Boston Celtics.
Featured in Vogue, Rolling Stone, Forbes, and the New York Times.
Use of Proceeds
If $50,000 is raised:
93.5% - New customer acquisition - We are focused on growing our user base in all markets with a particular emphasis on the U.S. and the Middle East. 6.5% - Wefunder intermediary fee
If $1,070,000 is raised:
30% – New customer acquisition - We are focused on growing our user base in all markets with a particular emphasis on the U.S. 13.5% – Building the Fancy brand - While we have established a significant position in the personal lifestyle goods industry, we will continue to invest in brand marketing, data led insights, and effective consumer targeting. 15% – Expanding our seller base - We plan to increase the number of brands, boutiques and retailers in order to expand the assortment and availability of merchandise on the Fancy marketplace. 10% – Improving consumer economics - We will seek to further optimize and improve our customer experience converting more frequently and at a higher Average Order Value 25% – G&A 6.5% – Wefunder intermediary fee
Management Team / Advisory Board Bios
Greg Spillane
CEO
As a serial entrepreneur with multiple exits, Greg’s passion is building high-growth technology companies. Former Division I athlete and holds an MBA from the University of Southern California, Marshall School of Business.
Nora Murphy
CFO
Prev. COO at Discourse Analytics, Managing Director in Investment Banking and Principal Investing Ansonia Partners, Associate JPMorgan Investment Banking, MBA from Columbia Business School
Deal Notes
6% interest
20% discount
$25K+ pro rata right threshold