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Security Type
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Preferred Stock
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Categories
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Consumer Goods & Products
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Min Investment
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$500
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Offering Date
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August 25, 2018
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Expected Close Date
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November 23, 2018
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Target Raise
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$350.00K-$1.10M
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Deal Notes
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- Security Type: Tiered Preferred Equity (SWIFT)
- Purchase Price: US $0.3560 before Sep 8, 2018 (8.5% discount), US $0.3720 before Sep 22, 2018 (4.4% discount), US $0.3890 Final
- Pre-money valuation: US $4,750,000
- Option pool: 9.98%
- Liquidation preference: 1.0x
- Minimum investment: US $500
- Target Minimum: US $350,000
- Maximum Raise Amount: US $1,100,000
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Valuation
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$4,750,000
Company Description
There’s been a fundamental shift in our economy. More and more people want to know that the money they spend supports things they believe in. Demand for ethically-sourced, fair trade, sustainable goods is growing rapidly. But it can be really hard for this growing group of consumers to find what they need, when they need it, from a brand they know is doing good for people and the planet. DoneGood is the online shopping platform that makes it quick, easy and affordable for these consumers to find the ethical and sustainable products they want—and know they can feel good about every purchase.
Two ways to use DoneGood to find products that make the world better:
1. DoneGood Laptop Plugin: Download the free plugin instantly on your laptop—then just shop online like you normally would. When you search for products on Amazon or Google, or go to a big-name retailer’s website, the plugin automatically shows socially and environmentally responsible brands that have the kind of product you're looking for, right along the side of your screen.
2. The DoneGood shopping website: Easily find thousands of products from hundreds of mission-driven brands all in one place. Quickly find anything from a ski hat that reduces poverty to a toothbrush that fights climate change. Forbes called it the “the Amazon of social good.”
Perks
First 100 people investing $750 or more: Free DoneGood t-shirt and "Look ma, I DoneGood!” stickers
Investing $5,000 or more: One-on-one strategy and feedback call with a member of DoneGood's leadership team, $100 gift card to a select DoneGood-approved brand of your choice and DoneGood t-shirt and stickers
$12,500: One-on-one strategy and feedback call with DoneGood's CEO, featured as a “Movement Builder” in DoneGood’s email newsletter and website, $200 gift card to a select DoneGood-approved brand of your choice, two DoneGood t-shirts and stickers
$25,000: Join a DoneGood team Friday happy hour via video call to get to know the whole DoneGood team and talk strategy, featured as a “Movement Leader” in DoneGood’s email newsletter and website (if desired), $400 DoneGood shopping spree (we’ll provide $400 in gift card(s) to select DoneGood-partner brands you choose), family pack of DoneGood t-shirts and stickers
$50,000: Invited to the quarterly outlook and planning conference call with the DoneGood team and other investors/advisors, join a weekly DoneGood team Friday happy hour via video call to get to know the whole DoneGood team and talk strategy, a Q&A interview on the DoneGood blog about why you believe in the DoneGood movement (if desired), featured as a “Movement Visionary” in DoneGood’s email newsletter and website (if desired), $800 DoneGood shopping spree, family pack of DoneGood t-shirts and stickers
$125,000: All of the perks at the $50,000 level, plus: "The DoneGood DoneFun Reality Tour" with the DoneGood team in Boston! Tour includes: Airfare for two from anywhere in the contiguous United States to Boston, three nights lodging at The Lenox Hotel (An historic, luxury property in Boston run by the Saunders Hotel Group, sustainability pioneers in the hotel industry. Some of The Lenox owners are also DoneGood investors.), dinner with the DoneGood team, whale-watching excursion with the DoneGood team, tour of nearby DoneGood partner brand production facility, Prosperity Candle (makers of high-quality, non-toxic hand-poured candles, creating sustainable employment opportunities for its women refugee workforce), tour of the Harvard Innovation Lab (Harvard University’s startup incubator where DoneGood got its start), as time and your schedule may permit: other Boston/Cambridge area sightseeing, and/or day trip to Walden Pond with the DoneGood team
Key Deal Facts
140+ partner brands (including Patagonia, Warby Parker) paying to promote their products through DoneGood
Tripled user community since the start of 2018 to over 100,000 users
6X increase in sales to partner brands from Q2 2017 to Q2 2018
Strategic partnerships with major organizations like 1% for the Planet
Founded "Shop for Good Sunday," ethical alternative to Black Friday/Cyber Monday, a coordinated marketing campaign w/ 50 brands and prominent non-profit organizations
Use of Proceeds
- 66% Salaries/Benefits
- 11% Operational expenses
- 23% Paid marketing
Management Team / Advisory Board Bios
Cullen Schwarz
CEO & Chief of Good Thoughts
Cullen is a public relations and marketing expert and experienced team leader, previously serving as a senior communications advisor and spokesperson in the Obama Administration, for Members of Congress, and for high-profile gubernatorial and U.S. Senate campaigns. He is a winner of national “Pollie” Awards for top political campaign ads of the year. Having studied Philosophy and World Religions in college, Cullen tries to abide by the teachings of Sartre, de Beauvoir, Camus and The Dude. Cullen loves snowboarding and international travel—but loves DoneGood more, so these days he’s working seven days a week on DoneGood. He promises he’ll return to a little better work/life harmony one of these days.
Deal Notes
- Security Type: Tiered Preferred Equity (SWIFT)
- Purchase Price: US $0.3560 before Sep 8, 2018 (8.5% discount), US $0.3720 before Sep 22, 2018 (4.4% discount), US $0.3890 Final
- Pre-money valuation: US $4,750,000
- Option pool: 9.98%
- Liquidation preference: 1.0x
- Minimum investment: US $500
- Target Minimum: US $350,000
- Maximum Raise Amount: US $1,100,000