SweatPals

Connect, sweat, and belong

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SweatPals: An In-depth Look!

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Security Type
CAFES
Categories
Other, Community & Lifestyle, Technology, Sports & Fitness, Health & Fitness, Financial Services, VC-Backed
Min Investment
$200
Location
Austin, TX
Expected Close Date
April 29, 2024
Target Raise
$50.00K-$550.00K
No. Investors
220
Security Price
$1
Website
sweatpals.com
Number of Employees
5
Cash
$205,204
Revenue
$12,367
Short Term Debt
$0
Cost of Goods
$0
Long Term Debt
$630,879
Net Income
$-425,675

Key Deal Facts

40,000 members in 1.5 years Won the largest global startup competition (Barnburner by Sweater VC) for quarter a million dollars 8,000 events, 450 communities, and 83,000 attendees in the first year 4x our valuation from 1.5 years ago World-class leadership team with previous startup exits and experience with Fortune 500 companies The active community retention rate is 15% higher than the industry average CEO started and scaled a business across 250 cities, and sold it last year

Management Team / Advisory Board Bios

Salar Shahini Founder & CEOStarted and sold two successful deep tech companies after moving to the US at age 21. Over a decade of experience in leading tech teams and driving innovation from startup to sale. Previous to SweatPals, Salar was the Board Chairman and CEO of StreetScan., Mandi ZhouFounder & Chief Product Officer 7 years of product leadership, designed products for Fortune 500 clients, co-founder of Austin Bouldering Club (2500 active members)., Taylor TachovskyHead of Community8 years of experience in marketing & customer relationship management. Content creator (75k combined followers) and founder of ATX Dog Mom Community., Wajahat ShawHead of DevelopmentPreviously built and scaled a mobile app with 150K users and 3MM monthly engagement. 8 years of experience in mobile app development., Margaret BortnerPartnership Manager9 years of experience in partnerships and events. Ex-professional gymnast., Priscilla PopeMarketing CoordinatorPreviously marketing coordinator and professional dancer at Ballet Austin.

Amount Raised : $494,601
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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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