GoFish Cam

GoFish Cam

A uniquely designed camera and app that helps fishing enthusiasts understand what's happening underwater

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Security Type
Crowd Note
Categories
Sports & Fitness
Min Investment
$500
Location
Austin, TX
Offering Date
July 06, 2018
Expected Close Date
October 04, 2018
Target Raise
$175.00K-$650.00K
Deal Notes
  • Security Type: Crowd Note
  • Conversion discount: 20.0%
  • Valuation Cap: US $5,000,000
  • Interest rate: 6.0%
  • Note term: 24 months
  • Minimum investment: US $500
  • Target Minimum: US $175,000
  • Maximum Raise Amount: US $650,000

Company Description

GoFish Cam is on a mission to make the underwater experience easily accessible to every angler. We want to help every angler re-live their favorite pastime. Much of the fishing experience takes place underwater. GoFish Cam can help reveal the unknown: how a fish reacts to a bait or lure, and is the lure presenting itself properly, what species are being shown on other electronics like a fish finder, where fish are hiding in the structures below, whether there are even fish below, and if so what types, and how big, what’s that big one that got away. GoFish Cam is a Kickstarter-backed hardware and mobile technology company that has developed an underwater camera that sits on an angler's fishing line. The camera works with a mobile application that lets its users review, edit, and share their footage. Anglers can easily review their footage to help justify their decisions, cut out guessing time, and be more effective while fishing. GoFish Cam aims to give anglers the chance to learn from their experiences by supplying data from which they can learn more about what happened and why. Furthermore, their mobile platform aims to allow anglers to leverage others' experiences to plan their next outing, and build a collaborative community through content.

Perks

Investors who invest over $1000 will receive a GoFish Cam tshirt, Investors who invest over $2500 will receive a GoFish Cam hat and tshirt. Investors who invest $5000 will receive a GoFish Cam, a Hat and a Tshirt.

Key Deal Facts

GoFish has shipped over 4,000 cameras and generated approx. $530K in revenue to date (May 2018)
Graduate of the Telluride Venture Accelerator and Capital Factory Accelerator
Over 14,000 email subscribers, with 30,000+ followers on social media
Average monthly revenue of $40,000+ (2018)
Notable investors include Capital Factory and Telluride Ventures

Use of Proceeds

  • 40% Marketing
  • 30% Operations
  • 20% Sales and business development
  • 10% General expenses

Management Team / Advisory Board Bios

Brandon Austin
CEO & Co-Founder
Prior to co-founding GoFish Cam, Brandon Austin worked at Assent Compliance, a SAAS startup that focuses on streamlining companies’ compliance programs. Brandon helped generate new business initiatives and sales leads, and trained new teams throughout the process. He also managed several accounts. In any work environment, Brandon has over-exceeded expectations and led his way to top staff. Winning sales of the month & staff of the year in his previous roles. Brandon is a graduate from Carleton University. It was at Carleton University where he began his entrepreneurial efforts, overseeing and building promotional teams for student events. Brandon recently participated in the Telluride Venture Accelerator program.

Ryan Austin
CO-FOUNDER & ADVISOR
In addition to co-founding GoFish Cam, Ryan Austin is the founder of ExpertKnowledge. Prior to founding those companies, Ryan served as Senior Vice President for World Trade Group, an organization that offers live events, online products and training courses. He was responsible for the start-up, development, design, and execution of the Training Division in the Americas. In 2012, GCP acquired World Trade Group in a £27.5m buyout. Ryan has founded several other start-ups from a young age. As a great believer that if you’re lucky enough to be successful, you have a responsibility to give back, Ryan’s interest lies in helping others – his main driving force for succeeding in business. He has been fortunate enough to have great mentors guiding him throughout his career and intends to pay it forward by helping others. After spending two years at York University and one year at The University of Western Ontario, Ryan left University to pursue his dreams. Ryan graduated from The Next Founders program which provided 50-65 hours of masters-level education taught by award winning faculty from schools including Harvard Business School, MIT, and Ivey. Ryan also participated and graduated from SURGE Venture’s 4th cohort and Edge Ed Tech’s most recent cohort.

Deal Notes

  • Security Type: Crowd Note
  • Conversion discount: 20.0%
  • Valuation Cap: US $5,000,000
  • Interest rate: 6.0%
  • Note term: 24 months
  • Minimum investment: US $500
  • Target Minimum: US $175,000
  • Maximum Raise Amount: US $650,000
Amount Raised : $190,600
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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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