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Security Type
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Preferred Stock
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Categories
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Food & Bev
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Min Investment
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$1,000
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Offering Date
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August 31, 2018
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Expected Close Date
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November 29, 2018
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Target Raise
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$450.00K-$1.00M
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Deal Notes
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- Security Type: Preferred Equity
- Share price: US $1.0000
- Pre-money valuation: US $9,000,000
- Option pool: 9.78%
- Is participating: False
- Liquidation preference: 1.0x
- Minimum investment: 1.0x
- Target Minimum: US $450,000
- Maximum Raise Amount: US $1,000,000
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Valuation
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$9,000,000
Company Description
Our goal is to reach 1M served by 2020, leveraging technology and our IP to disrupt the way people discover, acquire, and experience the foods they love. In the past year there has been a 30% increase in seafood consumption by millennials and 70% have switched to a healthier diet. According to Technomic Surveys, 71% are more interested in where their foods come from and how it is grown or produced. We're excited to deliver our experience from dock to doorstep as more and more people seek lobster and seafood as their healthy protein of choice. Our passion is to perfect how people discover, acquire, and experience highly perishable proteins. Today, there is fear and stigma surrounding the acquisition and preparation of fresh seafood. This is also the case with many other highly sought after proteins and it prevents a large number of people from experiencing tastes and foods that they are not familiar with. We have worked tirelessly to make these proteins not only easier to acquire but more approachable and enjoyable for the whole family. We are continuously evolving in delivering an exceptional experience from the first "click" to the last dish. Not only do we strive to get our customers the best quality product from the best source, but we have even been known to work directly with our customers to teach them how to best prepare their gourmet proteins.
Perks
Invest by 11:59pm ET on Monday, September 7th to receive the next tier of perks (one tier up from your investment amount). Applicable for $5,000 investments and above.
First 50 investors to invest $1,000 or more will receive our limited edition GML Dock t-shirt (you're family now).
Single Claw >> $2500 investment or more: Autographed Get Maine Lobster Ball Cap.
Double Claw >> $5000 investment or more: Virtual lobster cooking lesson with Mark.
Bronze >> $10,000 investment or more: Two $200 Gift Certificates.
Silver >> $25,000 investment or more: Lobster Tails for a year.
Gold >> $50,000 investment or more: Get Maine Lobster sweatsuit + Two $200 Gift Certificates.
Platinum >> $100,000 investment or more: Mark cooks lobster dinner for 6 in your home.
Double Platinum >> $250,000 investment or more: The Maine Lobster Experience for 2. Includes lobstering, a boat tour of Portland, and a lobster bake.
Key Deal Facts
Over $6.5M in revenue during 2016 and 2017. Since inception we have served over 250,000 meals served to 100,000+ customers, delivering to all 50 states in the US.
30% of people that order from us once, order a second time. Once we get the second sale, 49% order again. YOY we increase our retention rate by 7%.
2017 USA Today selection: 50 States: 50 Gifts of Taste. Also seen on: Inc., Chase Bank, ESPN, WSJ, and more.
Third-party selling program includes Groupon, Living Social, Touch of Modern, Gilt City, Rue La La, and more.
Use of Proceeds
- General expenses 30%
- Marketing 35%
- Technology 15%
- People 20%
Management Team / Advisory Board Bios
Mark Murrell
Chief Curator
Mark Murrell founded GetMaineLobster.com-Black Point Seafood in 2010 with the primary goal of making fresh Maine seafood available to anyone in the continental United States—no small task—but he has accomplished the feat by establishing an online business that provides dock-to-doorstep delivery of the world’s best lobster—Maine lobster—as well as seafood appetizers and select beef. An accomplished businessman, Mark’s company quadrupled its customer base since its first year of operation and earned a reputation for excellent customer service nationally. Mark and his business have been featured in the Wall Street Journal and USA Today and recommended on Rachel Ray and ESPN. Additionally, out of 4 million small businesses that Chase serves, Mark and GetMaineLobster.com/Black Point Seafood, were recently selected to be featured in the 2013 Chase National Advertising Campaign. Recognized as a leader in Marketing, combined with his unique approach and enthusiasm for his work, Mark is often sought after to consult other industries interested in expanding to or increasing visibility on the Internet. His expertise in leveraging the Internet to capture qualified prospects led to the development of unique marketing products and tools that automate sales efforts. Additionally, the success of his online food business has led to numerous requests from professionals interested in replicating his online business model. Mark holds a degree in Hospitality and Media writing from from Newbury College the University of Southern Maine. He currently resides in Yarmouth, Maine with his wife and daughter. In summer he loves all that Maine has to offer, time at the lake or ocean, grilling on the back deck, festivals, or just relaxing on the dock. During the winter, well, Mark doesn’t want to talk about that.
Deal Notes
- Security Type: Preferred Equity
- Share price: US $1.0000
- Pre-money valuation: US $9,000,000
- Option pool: 9.78%
- Is participating: False
- Liquidation preference: 1.0x
- Minimum investment: 1.0x
- Target Minimum: US $450,000
- Maximum Raise Amount: US $1,000,000