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Security Type
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Debt
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Categories
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Technology
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Min Investment
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$100
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Location
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SANTA MONICA, CA
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Offering Date
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August 30, 2021
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Expected Close Date
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February 28, 2022
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Target Raise
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$10.00K-$5.00M
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No. Investors
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303
- Number of Employees
- 3
- Cash
- $3,315
- Revenue
- $0
- Short Term Debt
- $0
- Cost of Goods
- $0
- Long Term Debt
- $35,000
- Net Income
- $-31,685
Company Description
Praise is a gamified digital currency and NFT platform. We partner with top brands and artists to design 3D-rendered collectible tokens that unlock custom experiences for superfans. We also disburse new tokens to our community on a daily basis as automatic rewards.
Key Deal Facts
Digital commerce is expected to become an $11.5+ trillion dollar market over the next few years. Other overlapping markets include the Gig Economy, remittances, cryptocurrency, and NFTs.
Praise first pilot partner is Rock Mafia, the music label that has collaborated with Eminem, Ariana Grande, John Legend, Selena Gomez, Zedd, Britney Spears, and countless other household names. Other major partners include Mousebelt, Hawke Media, Verses, and Wise Token.
Praise is backed by LaunchTeam, a successful marketing agency owned by the founder and several early Angel investors have already invested in the project.
Management Team / Advisory Board Bios
Jesse Tevelow, Founder and CEO
3X Bestselling Author, Techstars Alum, Investor. Jesse has built multiple startups and helped over 50+ clients go to market.
James Sommerville, Brand Design Advisor
Formerly Global VP of Design for Coca-Cola
Ian Arden, Technology Advisor
Ian is an interim Technology Advisor consulting the company in a part time capacity.
Galen Danziger, Engineering Consultant
CTO of Mousebelt. Galen is currently consulting the company on a part-time basis.
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
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The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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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.
Management Team
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The value of the company compared to similar companies raising money from investors.
Valuation
Security Description
Debt is something, usually money, borrowed by one party from another. Debt is used by many corporations and individuals to make large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.