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Security Type
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Preferred Stock
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Categories
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Consumer Goods & Products
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Min Investment
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$1,000
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Offering Date
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December 08, 2020
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Expected Close Date
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May 19, 2021
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Target Raise
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$50.00K-$250.00K
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Deal Notes
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Price per Share: $0.45
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Valuation
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$7,370,000
Company Description
In 2018, we created EveryDay Contacts to commercialize our own coating technology and to fill in a gap in the contact lens market for contact lens users who wanted a great consumer experience from their contact lens but still want a relationship with their eye doctor.
We completely understand the consumer’s need for convenient access and best pricing. However, a contact lens is a foreign object you stick in your eye and still requires a prescription. A 2015 Hanover Research Study that found that 94% of contact lens users rely on the lens recommendation of their doctor. Our own customer discovery showed the same results. In addition, eye doctors recognize that when they are involved in the decision there are better health outcomes for the contact lens user. So, we created a business model that balances the demands of the consumer for price and convivence while recognizing the essential role of the eye doctor to maintain their patient’s health.
Perks
$2,500+ $100 Donation to Optometry Giving Sight in the Investor's Name
$5,000+ $250 Donation to Optometry Giving Sight in the Investor's Name
$10,000+ (If a doctor) Become one of the first 100 doctors to be an EDC Launch Partner.
$25,000+ (If a doctor) Become one of the first 100 doctors to be an EDC Launch Partner; Plus $2,000 Co-op Marketing for Launch
Key Deal Facts
Introducing a premium contact lens with a proprietary comfort coating to provide a better experience
Solving a $470M prescription "walk" problem for independent eye care professionals
Binding commitment to iECPs. Its in our bylaws! www.everydaycontacts/odcommitment
Scalable business model that we hope to grow to $20M in revenue 24 months post launch
Providing consumers a premium daily disposable lens through an affordable, convenient subscription
World-class medical advisory board
Product completed; pending clinical trial and FDA approval
Use of Proceeds
$50,000
- 93.5% towards the clinical trial
- 6.5% towards Wefunder fees
$250,000
- 93.5% towards the clinical trial
- 6.5% towards Wefunder fees
Management Team / Advisory Board Bios
Lawrence Chavez
CEO
Passionate innovator focused on meaningful innovation. Co-founder of Lotus Leaf Coatings, advanced materials company and inventor of EDC coating tech. Previously, venture partner with Flywheel Ventures & interim CFO with semiconductor test company.
We developed the coating technology first, then explored the best way to bring it to market. Our mission is to put the health of the contact lens users first. So, with the help of our advisors we developed a delivery model that provides value to the lens user by partnering with the eye doctor thereby ensuring their health.
Paul Butler
COO
Paul was the COO of Lumidigm prior to and during the acquisition of the company by HID Global. In addition, Paul brings a strong engineering and design intelligence to our team.
Christopher Sanchez
Research and Development Manager
Christopher is the co-inventor of the EveryDay Contacts coating technology used to enhance the performance of our daily disposable contact lens. Christopher has a degree in Chemistry from the University of New Mexico.
Jan Michael Gosau
Head of Research & Development
The co-inventor of the EveryDay Contacts coating technology. Dr. Gosau has 25 years experience specializing in chemistry and surface coatings. He received his Dr.rer.nat (Ph.D) from Freie Universitat Berlin.