Joolez

Joolez

Fine jewelry marketplace matching customers with ideal diamond engagement rings using AI

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Security Type
Crowd Note
Min Investment
$100
Location
New York, NY
Offering Date
April 06, 2021
Expected Close Date
September 06, 2021
Target Raise
$50.00K-$250.00K
Deal Notes

Price Per Share: $1.00

Company Description

Joolez is a diamond ring marketplace powered by behavioral science and artificial intelligence (AI). The company’s marketplace is designed to help couples find the perfect diamond ring for their engagement. The Joolez team has a combined 25 years of experience in the diamond industry and has interviewed hundreds of couples, gaining insight into what can help make the purchasing experience less fraught and more joyous. The company’s AI algorithm is engineered to change the way consumers shop for diamond rings online, in a way make that is less overwhelming, more efficient, and as stress-free as possible.

Key Deal Facts

Powered by one of the largest diamond and jewelry trading networks around the globe with access to more than 1 million diamonds and thousands of jewelry piecesi
Utilizes behavioral science and artificial intelligence (AI) to provide advanced product discovery diamond recommendations
Its proprietary technology was designed to understand all facets of diamonds and assess a customer’s preferences
Team has a combined 25 years of combined experience in the sales and marketing and diamond industry

Use of Proceeds

  • $50,000
  • Intermediary fees (5%)
  • Campaign marketing (5%)
  • General marketing (40%)
  • Research and development (40%)
  • General working capital (10%)

$250,000

  • Intermediary fees (5%)
  • Campaign marketing (1.2%)
  • General marketing (40%)
  • Research and development (40%)
  • Equipment purchases (2%)
  • General working capital (1.8%)

Management Team / Advisory Board Bios

Yuri Iskhakov, Founder and CEO
Yuri Iskhakov is the founder of Joolez and is responsible for the company’s administrative affairs, including the duties of financial, operational, and marketing officers. Mr. Iskhakov is an accomplished business professional with 15 years of experience in product development. He is also the CEO and founder of Nano Labs Venture Studio, where he handles day-to-day executive functions of the business and manages a team of individuals with expertise in experience design, e-commerce business, and marketing to help businesses grow and scale. He holds Graphic Design and Fine Art degrees from Queens College, Collins College, and The Cooper Union for Advancement of Science and Art.

Deal Notes

Price Per Share: $1.00

Amount Raised : $14,565
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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.
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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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