KOTA Longboards

KOTA Longboards

This isn't your kid's longboard!

Print
Security Type
Non-Voting Equity
Categories
Consumer Goods & Products
Min Investment
$400
Location
Denver, CO
Offering Date
August 03, 2018
Expected Close Date
November 02, 2018
Target Raise
$10.00K-$107.00K
Deal Notes
  • Type of Security Offered: Non-Voting Membership Units
  • Purchase Price of Security Offered: $3.20
  • Minimum Investment Amount (per investor): $400
  • Maximum 33,437 shares* of Non-Voting Membership Units ($106,998.40)
  • Minimum 3,125 shares of Non-Voting Membership Units ($10,000)
Valuation
$3,100,000

Company Description

We get it. For years longboarding was for people who bomb down hills with reckless abandon. Boards were built for downhilling and sliding. The skate culture promoted it - so the ridership followed suit. But a new ridership has emerged - older, experienced, more discriminating yet full of youthful enthusiasm and hungry for new, fun and invigorating activities. KOTA has re-engineered the longboard with that rider in mind. One who appreciates quality and performance, and who desires a street-skiing or land-surfing experience. KOTA's electric boards are raising the bar in what riders expect from their eBoard too. We believe our superior performance, ride and style fit hand in glove with the new urban lifestyle. This exciting new market brings even more opportunity for explosive growth to KOTA. Young, old, male, female - the demographic that KOTA reaches is broad and diverse. We have a common connection to all that the KOTA brand stands for, a love for adventure and a desire to be unique! PLEASE JOIN US ON THIS JOURNEY From our humble beginnings in our garage, we've established a highly efficient production process in a scalable factory. We have three growing channels to market, Direct, CoBrands and Retail. We believe our conventional and electric longboards, together with the KOTA brand are transforming the skate lifestyle into one that appeals to a clientele that would likely never step foot in a skate shop. With this StartEngine campaign we're looking for investors who are passionate about recreation and the outdoors to join our team. Together we can keep KOTA on a rapid growth trajectory and build a powerful active lifestyle brand.

Perks

Invest $400 and receive the option to get a Personal Coupon Code allowing you to receive a free KOTA electric longboard by directing friends to purchase products on the KOTA website (15 sales over $300).
Invest $1,000 and receive the option to get a Personal Coupon Code allowing you to receive a free KOTA electric longboard by directing friends to purchase products on the KOTA website (10 sales over $300).
Invest $10,000 and receive and receive the option to get a Personal Coupon Code allowing you to receive a free KOTA electric longboard by directing friends to purchase products on the KOTA website (5 sales over $300).
Invest $15,000 and receive a sponsored trip to KOTA in Denver, CO ($1,000 max) to meet KOTA's Founders, your own KOTA Longboard and longboard lessons from KOTA Escadrille team riders. You also have the option to get a Personal Coupon Code allowing you to receive a free KOTA electric longboard by directing friends to purchase products on the KOTA website (5 sales over $300).

Key Deal Facts

GROWTH: 32% Revenue growth in 2017 while shaving 21% off of our burn rate.
KOTA ELECTRIC: Launched first KOTA electric board, THE SPITFIRE MK V, in late 2017. Scheels (specialty retailer) ordered initial units.
KICKSTARTER: Successful Kickstarter campaign featuring Spitfire Mk V eBoard in March 2018.
CO-BRANDING: CoBrand relationships with Anheuser Busch, Dewey Weber Surfboards, Oakley, Sage Hospitality, Vail Resorts and many others.
RETAIL: KOTA brand picked up by Scheels (specialty retailer) in September 2017. Expansion into seven Scheels locations since February 2018.
KOTAgrip FINISH: KOTA has the only longboard on the market with topside graphic featuring our exclusive clear, non-porous KOTAgrip finish.
GRANT WINNER: Chase Mission Main Street Grant winner selected from over 15,000 applicants to win $150,000 grant from Google & JP Morgan Chase.
WOMEN'S OUTREACH: Established Longboarding Betties women's longboarding club with regular events intended to engage women in recreational longboarding.
CSR: Founded 501(c)3, Carve It For Life!, a PTS healing program focused on recreational stress relief through longboarding.

Use of Proceeds

  • Marketing ($30,000 over 3+ months)
  • Working Capital including additional management staffing ($60,000)
  • R&D primarily of electric board systems ($10,578)

Management Team / Advisory Board Bios

Mike Maloney
Manager, Founder and CEO
Mike, our Founder and visionary of the KOTA brand, is a former Navy F-14 pilot and TOPGUN graduate. He's lived and breathed the Knights Of The Air code as a carrier aviator from Kuwait to Iraq to Somalia. He started KOTA with Nikki back in 2012 and has been managing overall operations, sales and capital raises for the company full time since the 'driveway' days 6 years ago. Mike has career-long experience in mission critical leadership, planning and execution. He's the former President/CEO of a Denver-based clean energy technology company spun out from CH2M HILL. Previously, Mike established and managed CH2M HILL’s technology investment portfolio where he led many diverse technology efforts, building product and process technologies into functioning businesses. Mike's responsibilities included managing the Intellectual Property for this 27,000 employee firm. Mike’s expertise bridges both early stage product commercialization and growth opportunities for product adoption in new and emerging markets. Mike is a former United Airlines Captain and has held several voluntary roles in the non-profit community including Chairman of St. Anthony Health Foundation and Flight For Life. He holds a BS Mechanical Engineering from the University of Colorado and a MS Finance from the University of Denver. Mike's an avid downhill skier, roadbiker, woodworker and family man, riding KOTA longboards daily with his kids.

Nikki Maloney
Founder and General Manager
Nikki is the glue that been holding KOTA's operation together since 2012. It's never hard to find Nikki - just follow the sound of her laugh! She handles customer service, order fulfillment, PR, HR, supply chain and much more on a full time basis. Nikki's an entrepreneur with experience in operations, manufacturing, PR, public policy, and economic development. Nikki's a veteran of the Denver Mayor’s Office of Economic Development and International Trade (MOED&IT) where she was an economic development specialist focusing on startups, the high tech sector and development in Downtown Denver, Cherry Creek, Lowry and the Denver Tech Center. Prior to MOED&IT, Nikki worked directly for the President & CEO of CH2M HILL in public affairs. She established a statewide trade organization for the engineering community, worked with the Clinton White House on environmental technology conferences and performed PR, marketing and business development. Nikki has also been active in her community spearheading many change efforts within Denver Public Schools. She also established and served on the boards of Flight for Life, the StEPP Foundation, Safe Routes to School, Collaborative School Committees and more. Nikki holds a BA in Public Policy and History from the University of Denver.

Deal Notes

  • Type of Security Offered: Non-Voting Membership Units
  • Purchase Price of Security Offered: $3.20
  • Minimum Investment Amount (per investor): $400
  • Maximum 33,437 shares* of Non-Voting Membership Units ($106,998.40)
  • Minimum 3,125 shares of Non-Voting Membership Units ($10,000)
Amount Raised : $16,102
Reveal the Score by Voting
_
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

Non-voting stock is stock that provides the shareholder very little or no vote on corporate matters.

Research Reports

No reports have been submitted

Become a Reporter

0 Comments