LifeDNA

LifeDNA

Health and wellness platform serving 11,500+ customers that leverages genomics to deliver personalized recommendations

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Security Type
Crowd Note
Min Investment
$100
Location
Honolulu, HI
Offering Date
August 20, 2020
Expected Close Date
March 01, 2021
Target Raise
$25.00K-$1.07M
Deal Notes

Discount: 20%

In connection with equity financing of at least $1 million, the Company has the option to convert the Crowd Note into non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price per share paid on a $8 million or $10 million valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.

Company Description

Hawaii-based LifeDNA is a healthtech company that aims to deliver personalized health and wellness insights to users globally. The company essentially wants to act as a dashboard for one’s health, where lifestyle, environment, biometric, and genetic data are integrated to create a holistic approach towards wellness.

Key Deal Facts

Served more than 11,500 customers globally, with the company growing its users 1,291% in Q2 2020
Partnered with Health First Network, a Canadian health and wellness retailer with 130 stores,i in July 2020
Through July, the company has generated $315,516 of revenue in 2020, up 224% when compared to the same period in 2019
Steve Markowitz, the chairman of the company, previously founded and led Mypoints.com to an IPOii

Use of Proceeds

  • Marketing
  • Future Wages
  • Working Capital

Management Team / Advisory Board Bios

Steve Markowitz - Chairman
In addition to his role at LifeDNA as the Chairman, Steve is a Honolulu-based impact investor focused on healthtech. Notably, he was the founding chairman and CEO of online loyalty marketing pioneer MyPoints.com, where he led the company to an IPO.xxxiv Under his leadership, the company grew from zero to 16 million consumer members.xxxv Additionally, Steve is also an inventor, with numerous issued U.S. patents in applied science.xxxvi Steve graduated with his MBA and BA in East Asian Languages from the University of California at Berkeley.

Cyril Moukarzel - CEO
Cyril started LifeDNA with the goal of making personalized medicine more accessible and helping everyday consumers live healthier. He has spent his career in startups, where he has focused on marketing and growth. Cyril has also been featured in publications such as CNN,xxxvii Forbes,xxxviii and Entrepreneur.xxxix He has a Bachelor of Commerce with a specialization in marketing from the University of Ottawa’s Telfer School of Management.

Deal Notes

Discount: 20%

In connection with equity financing of at least $1 million, the Company has the option to convert the Crowd Note into non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price per share paid on a $8 million or $10 million valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.

Amount Raised : $22,013
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
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The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
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The value of the company compared to similar companies raising money from investors.
Valuation

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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