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Security Type
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CAFES
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Categories
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Technology, Financial Services, Consumer Goods & Products, Retail
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Min Investment
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$100
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No. Investors
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9
Key Deal Facts
Drivn manages a fleet of electric vehicles that it rents through Turo & to Uber/Lyft drivers.
Drivn’s operating partner has a successful history of managing a fleet of 50 cars profitably.
The scalable model can grow to hundreds of cars across regions, leveraging success & relationships.
Drivn aims to grow to 200 vehicles in 2 Western markets, then expand to 2,000 vehicles in 7 markets.
Drivn seeks $5M to expand its fleet by 200 vehicles and grow its Uber and Lyft rental programs.
As rideshare grows, the need for vehicles will likely rise, creating opportunities for our business.
Drivn will attempt to consolidate the Turo market, penetrate Uber rentals, and expand to 7 states.
As the market evolves, Drivn will strive to be a key player in driverless tech.
Management Team / Advisory Board Bios
Patrick Lamb FounderSeasoned executive with experience in banking, mortgage lending, & auto leasing. Starting as a corporate lawyer in New York. Since 2011, he has held executive roles, including President & CEO, at several independent mortgage lenders driving their growth., Maxwell HartChief Operating OfficerGrowing up around cars, he gained hands-on experience in buying, selling, and collaborating with dealerships, which led to the creation of Hart Rentals. Maxwell's expertise in cars and enthusiasm shine through in his work with clients every day., Zachary HartArizona Operations ManagerZach discovered his passion for cars at 14 yers old. Rising through Arizona's automotive scene, he excelled in a top-tier dealership, gaining invaluable industry insights through hands-on experience and dedication.
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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
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.
