SideStream

SideStream

Live social video platform that entered into a partner licensing agreement in December 2020 with Universal Studios

Print
Security Type
Convertible Note
Categories
Media
Min Investment
$100
Location
Santa Monica, CA
Offering Date
March 08, 2021
Expected Close Date
August 16, 2021
Target Raise
$25.00K-$500.00K
Deal Notes

Discount: 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 $4.5 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

SideStream is a social video platform that allows both influencers and everyday individuals to host live interactive digital screening parties for popular movies while participating in the revenue generated from their events. The company was co-founded and is led by Neal Tiles, an entertainment industry veteran who has held roles at ESPN, Comcast, and many other notable organizations. To date, Neal has leveraged his industry experience to secure licensing partnerships with companies like Universal Studios, Lionsgate, CBS, and Gravitas Ventures.

Key Deal Facts

Entered into a partner licensing agreement in December 2020 with Universal Studios
Agreement will enable SideStream to offer popular Universal titles like Scarface, Happy Gilmore, The 40-Year-Old Virgin, and Ted on its social video platform
Received development grant from Android Television’s Innovation initiative in June 2020 as part of its Google Play developer distribution agreement
Launched beta version of platform in January 2021, with the company aiming to release Sidestream events in March 2021

Use of Proceeds

  • Development & Operations
  • Campaign Marketing
  • General Marketing
  • Research and Development
  • Intermediary Fees
  • Repayment of Legal Fees

Management Team / Advisory Board Bios

Neal Tiles
Co-Founder and CEO
Neal has spent decades in the creative and entertainment industry, with executive C-level positions at ESPN/Disney, Fox Broadcasting, DirecTV, and Comcast/NBCU. In addition to his employment responsibilities throughout his career, Neal has advised numerous companies, like Pluto TV, VENN, IGN, Tribune Media, and others, on their content, marketing and development strategies. He earned his BS in Public Communications from Syracuse University.

Kevin Pereira
Co-Founder and Chief Product Officer
Kevin has been in the entertainment production industry for his entire career, working on a variety of traditional and digital products. He founded Super Creative, a content production company that has produced content for partners like Disney, Lionsgate, SyFy, Sony, Microsoft and Amazon. Kevin has experience in the live-streaming category having launched owned and operated ventures in the space, as well as managing and consulting for popular influencers across platforms like Twitch, Instagram and Patreon. He can also be seen as the host of Hack My Life on HBOMax.

Deal Notes

Discount: 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 $4.5 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 : $253,015
Reveal the Score by Voting
_
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

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

Research Reports

No reports have been submitted

Become a Reporter

0 Comments