Vinder

Vinder

Neighbors Feeding Neighbors

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Security Type
Convertible Note
Categories
Food & Bev
Min Investment
$100
Location
Port Townsend, WA
Offering Date
July 27, 2018
Expected Close Date
May 03, 2019
Target Raise
$300.00K
Deal Notes

Custom Convertible Note

$3Mvaluation cap

4%interest

20%discount

$25K+voting right threshold

A Convertible Note is debt that converts to equity. If you invest, you're betting the company will be worth more than $3M in the future.

Company Description

As an online farmers market for home gardeners, we help people easily buy and sell homegrown produce with their neighbors. This not only incentivizes home gardeners to grow fresh, amazing fruits and vegetables but opens up communities to more personal connections. We keep those relationships personal by allowing those connections to form organically, taking only a 20% transaction fee on the buyer side. So far, this has resulted in a 90% retention rate for growers and 77% for buyers.

Perks

$250+
Autographed picture of team, with signatures thanking you and a Vinder certificate of investment paper.

$500+
Previous perks PLUS: Vinder Hat Social Shoutout

$1,000+
Previous perks PLUS: Invitation to our VIP potluck in Austin TX. The potluck will include food grown in the Austin area by Vinder growers. Followed by great company and conversations. **Travel and accommodations NOT included

$10,000+
Previous perks PLUS: Naming rights to one of our raised beds at our Austin, TX offices. These beds will be used to sell organic produce for all eternity or until the next / nearest apocalypse. In which case, we'll scale and feed the masses. **Travel and accommodations NOT included

$25,000+
Previous perks PLUS: Tour of our office in Austin TX. Vinder Grower Garden Tour in Austin ,TX where we will purchase produce that our lead app developer, Brandon, will use to cook a custom meal for the investor that evening. Includes ride in the veggie vehicle the founders drove 2,700 miles in 3 days from Port Townsend, WA to Austin, TX. **Travel and accommodations included

$50,000+
Previous perks PLUS: Our CEO, Sam Lillie, will fly out to your home and spend a day working in your garden :) **Travel and accommodations included

Key Deal Facts

Online beta marketplace organically grew to over 90 cities in 19 states in 4 months.
Winners of the 2017 Silicon Valley Business Plan competition.
Average order size is $15.88.
Our mobile app, which goes live on Android + iOS on August 21, has 700+ pre-registered users.
Retention rate for growers is 90% and 77% for buyers.
CEO Sam Lillie was named the Young Entrepreneur of the Year by Jefferson County, Washington in April 2018.
Graduate of the MassChallenge Business Accelerator.
Sam started by knocking on his neighbor's doors, and in the first 3 months of business, hand-delivered over 300 lbs of produce on his bicycle.

Use of Proceeds

If we raise: $50,000

  • Use of Proceeds: 60% towards payroll for the four existing employees, 36% towards marketing, 4% towards Wefunder fees.

If we raise: $107,000

  • Use of Proceeds: 60% towards payroll for the four existing employees, 36 % towards marketing, 4% Wefunder fees

Management Team / Advisory Board Bios

Sam Lillie - Founder/CEO
Sam started Vinder by knocking on the doors of his neighbors and selling/delivering on his bicycle.

Mark DeJarnatt - CTO
Mark was one of Vinder's first customers. He has over 18 years of management and web dev. experience

Deal Notes

Custom Convertible Note

$3Mvaluation cap

4%interest

20%discount

$25K+voting right threshold

A Convertible Note is debt that converts to equity. If you invest, you're betting the company will be worth more than $3M in the future.

Amount Raised : $0
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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