See.Me

See.Me

Global art platform that promotes and sells work for artists

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Security Type
Crowd Note
Categories
Entertainment
Min Investment
$100
Offering Date
October 03, 2018
Expected Close Date
November 23, 2018
Target Raise
$50.00K
Deal Notes

Security Type: Crowd Note

Round Size: Min: $50,000 Max: $1,070,000

Valuation Cap: $4 million

Discount: 20%

Conversion Provisions: In connection with equity financing of at least $1,000,000, the Company has the option to convert the Crowd Note into shares of non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price paid per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price paid per share paid on a $10 million valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.

Company Description

SeeMe is a global platform that helps artists gain recognition, connect with enthusiasts and collectors, and earn income. It accomplishes this by hosting art shows and competitions, printing catalogues, and displaying art on its site. The company caters to artists, photographers, musicians, designers, and creative enthusiasts. SeeMe provides a way for art enthusiasts and corporations to discover emerging artists and license unique art.

Perks

$250+: SeeMe Core Member - 2-year membership, plus t-shirt and Instagram post with link to artist’s SeeMe profile
$750+: SeeMe Elite Member - 5-year membership, plus t-shirt, Instagram and Facebook posts, and invitation to be on the Artist Advisory Council
$100+: Supporter Level - 10% discount for one year on art/products, plus event invites (first come, first serve)
$250+: Enthusiast Level - 10% discount (perpetual) on art/products, plus event invites (first come, first serve), and ability to sponsor an artist for any SeeMe competition
$750+: Collector Level - 15% discount on art, plus sneak peaks for new artists and new art availability, an invite to SeeMe’s Art Basel Miami Party or Art Takes Times Square, and ability to sponsor two artists for a year
$5,000+: Patron's Circle - All the above, plus tickets for Scope dinner with SeeMe team in Miami (at Art Week Miami & tickets for Art Takes Times Square yearly), ability to fund 10 artist membership scholarships for one year, and join the See.Me jury panel for one competition per year, and all Artist perks.

Use of Proceeds

SeeMe intends to use the proceeds from this raise to increase its marketing budget in order to drive artist memberships and help artists gain exposure. If the minimum amount of $50,000 is raised, SeeMe plans to allocate 31% of the raise for marketing, 31% for accrued expenses and repayment of debt, and 13% for general working capital. The company has accrued expenses and debt from the construction of its gallery. If the maximum amount of $1.07 million is raised, the company plans to allocate almost 20% for general working capital, 18.7% for marketing, and 18.7% for building artist residences. The company also plans on spending 14% on future wages to hire key employees and drive growth. The company has discretion to alter the use of proceeds mentioned based upon prevailing market conditions, board approval, and future opportunities (ex. the company may pursue certain strategic acquisitions or develop additional technology that benefits its community).

Management Team / Advisory Board Bios

Brendan Burns: Founder & CEO
Prior to founding Stepstone Art Resources, Brendan served as the CEO of 1000|Museums. 1000|Museums—a venture-backed e-commerce and art licensing company—built a global network of fine art museums, such as the Guggenheim (NYC), the Van Gogh Museum (Amsterdam), the MFA Houston, and many others. Early in his career, Brendan was a member of AdOne’s founding team and served as CEO. He has an MBA from Columbia University and earned his BS from Fordham University. Since 2004, Brendan has been an adjunct professor at the Lang Center for Entrepreneurship in Columbia’s Graduate Business School and serves on the Advisory board of the Lang Fund.

Alex Nero: Co-founder and Creative Director
Alex is an American artist who utilizes experimental techniques with chemistry and the physical dynamics of paint within vessels of water. He has led creative projects with startups for over 10 years and has a multi-disciplinary background in full stack development in eCommerce environments. Alex leads the technology and creative direction at Stepstone Art Resources.

Deal Notes

Security Type: Crowd Note

Round Size: Min: $50,000 Max: $1,070,000

Valuation Cap: $4 million

Discount: 20%

Conversion Provisions: In connection with equity financing of at least $1,000,000, the Company has the option to convert the Crowd Note into shares of non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price paid per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price paid per share paid on a $10 million valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.

Amount Raised : $4,161
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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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