PLLAY Labs

PLLAY Labs

Peer-to-Peer video game wagering platform leveraging AI with 31,300+ downloads since launch in June

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Security Type
Convertible Note
Categories
Entertainment
Min Investment
$100
Location
Huntingdon Valley, PA
Offering Date
December 02, 2020
Expected Close Date
April 26, 2021
Target Raise
$50.00K-$1.07M
Deal Notes

Discount Rate: 20%

Conversion Provisions: 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 $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

Across the globe, console and PC gaming has grown to encompass an estimated 2 billion people who are expected to account for $82 billion of revenue in 2020.i Tech Crunch recently reported that an estimated three out of four people in the U.S. play video games and noted that COVID stay-at-home orders have fueled adoption.ii With the rise in gamers, competitive video gaming, eSports, has also increased in popularity, growing to a billion dollar industry.iii While competitive eSports tournaments and matches often feature a cash prize or wager, casual gamers who wish to challenge others to a match wager may find it difficult to ensure they receive the wager from their opponent and that no cheating occurs.

PLLAY Labs has developed a platform for gamers to legally wager money on head-to-head video game matches. Through its app, PLLAY allows users to wager money securely, facilitating prize collection within a few seconds of a match’s conclusion. Further, the company has developed AI and computer vision algorithms designed to actively track a match’s stream, updating scores and game time, while determining winners and monitoring for cheating, eliminating the need for human-based monitoring or outcome disputes. Since launching in June 2020, PLLAY has experienced over 31,300 app downloads and roughly 113,000 impressions.

Key Deal Facts

Over 31,300 app downloads and roughly 113,000 impressions since launch in June 2020
2,775 monthly active users (MAUs) in September 2020, up from 700 in June 2020
Hosted gaming tournament and experience for Travis Scott Astroworld VIP attendees and back stage arena celebrities and guests
Hosted FaZe Clan and SLAM Magazine gaming tournament at NBA All Star Weekend

Management Team / Advisory Board Bios

Shawn Gunn
Co-Founder and CEO
Shawn Gunn is CEO and Co-Founder of PLLAY Labs, an Artificial Intelligence-driven wagering and data analytics platform for video gamers. Previously, Shawn was Founder & CEO of PERSONA, a personal data security and monetization ecosystem. Prior to PERSONA, Shawn sharpened his deal-making skills at Traffic.com (TRFC), where he helped grow the venture-backed startup to a $179M acquisition by NAVTEQ (NVT).xiii Shawn then became Global Head of Monetization for NAVTEQ, which was acquired by Nokia (NOK) for $8.1 billion.xiv Shawn went on to build the first globalized mobile advertising network at Nokia, which was acquired by Microsoft (MSFT).xv Shawn received his BS from Florida A&M University.

Christine Krzyzanowski
Co-Founder and CMO
Christine Krzyzanowski is the Co-Founder and CMO of PLLAY Labs, Inc. Throughout her 15+ year career working with Fortune 500 companies, Christine has lent her experience and skills as a brand strategist, investor, and entrepreneur. In 2005, Christine founded The Ark Group, an agency that grew into a multi-million dollar agency before she turned 35, representing Fortune 500 brands nationally and globally, including MGM Hotel Group, Mercedes-Benz, BMW, Coca-Cola, NFL, NBA Cares, SONY, and among others. Christine has been showcased as a TEDx speaker and a global speaker on women's empowerment within the workforce. She has a deep passion for helping women achieve their dreams of being in the business world, at any stage of life.

Jon Tabacjar
CFO
Jon brings over twenty-one years of experience in providing finance and accounting services to clients in a variety of industries, including IoT technology, consumer electronics, e-commerce, financial services, digital media and entertainment, pharmaceuticals, manufacturing, construction, telecommunications, energy and natural gas production, aerospace and defense, software development, retail, government and non-profit, and higher education. Jon has spent the last 12 years as a Chief Financial Officer in venture-backed organizations. Prior to becoming a finance consultant, Jon spent nine years in public accounting at firms such as Deloitte, KPMG, and Pricewaterhouse Coopers. Jon received his Bachelor of Arts degree in Accounting from Washington & Jefferson College. He is a licensed Certified Public Accountant in California and Pennsylvania.

Deal Notes

Discount Rate: 20%

Conversion Provisions: 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 $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 : $314,543
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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