Editing Fishbrain
The edit can be undone. Please check the comparison below to verify that this is what you want to do, and then publish the changes below to finish undoing the edit.
Latest revision | Your text | ||
Line 1: | Line 1: | ||
'''A mobile app, marketplace, and social network for fishing, one of the world's most popular hobbies.''' | '''A mobile app, marketplace, and social network for fishing, one of the world's most popular hobbies.''' | ||
== Summary == | == Summary == | ||
Line 12: | Line 11: | ||
== Operations == | == Operations == | ||
Fishbrain is a mobile app and social network for people who love fishing. Used by more than 14 million anglers worldwide, Fishbrain helps deliver the best possible fishing experience by providing every angler - whether beginner or pro - with the tools, insights, and support they need to fully enjoy one of the world’s most popular hobbies. | Fishbrain is a popular mobile app and social network for people who love fishing. Used by more than 14 million anglers worldwide, Fishbrain helps deliver the best possible fishing experience by providing every angler - whether beginner or pro - with the tools, insights, and support they need to fully enjoy one of the world’s most popular hobbies. | ||
There are more than 55 million anglers in the | There are more than 55 million anglers in the U.S., who collectively spend nearly $50 billion in retail sales. Fishing is one of America’s most popular and top-grossing hobbies — almost three times the size of the music industry. In Europe, the annual expenditure by anglers is an estimated EUR 25 billion. | ||
Fishbrain | Fishbrain disrupts an industry that has remained traditional, not only making fishing more accessible but also leveling the playing field for the growing numbers of women, minorities, and young people looking to take up the sport. | ||
Our mission is to make fishing dreams come true, today and tomorrow. | |||
=== Key accomplishments to date === | === Key accomplishments to date === | ||
• Backed by VCs | • Backed by VCs including Softbank Ventures Asia, B Capital Group, NorthZone, and Industrifonden | ||
• 14 million users worldwide | • 14 million users worldwide | ||
Line 27: | Line 26: | ||
• 13 million catches logged | • 13 million catches logged | ||
• $10.4m in revenue for 2021 | • $10.4m in revenue for 2021*. An average of 9% increase in monthly revenue in 2022 ahead of 2021. | ||
• Market Place Sales +155% for YTD 2022 vs 2021 | • Market Place Sales +155% for YTD 2022 vs 2021 | ||
Line 40: | Line 39: | ||
• Editor's Choice App by Apple | • Editor's Choice App by Apple | ||
<nowiki>*</nowiki>Based on unaudited management accounts. | |||
=== Monetisation strategy === | === Monetisation strategy === | ||
Line 48: | Line 49: | ||
The company offers three different subscription options for its users, ranging from monthly to annual offerings at price points of approximately £8 per month to £65 per year. | The company offers three different subscription options for its users, ranging from monthly to annual offerings at price points of approximately £8 per month to £65 per year. | ||
On the marketplace, Fishbrain takes a 15% commission on | On the marketplace, Fishbrain takes a 15% commission on GMV for facilitating the sale of fishing gear on the platform by merchants and retailers. The company is also exploring in-app ads as an additional revenue stream. | ||
=== Use of proceeds === | === Use of proceeds === | ||
Line 64: | Line 65: | ||
The company has 4 different classes of shares, Ordinary shares, Series A preference shares, Series B preference shares and Series B1 preference shares. | The company has 4 different classes of shares, Ordinary shares, Series A preference shares, Series B preference shares and Series B1 preference shares. | ||
All investors in this round will receive Ordinary shares. | All investors in this round, including Seedrs investors, will receive Ordinary shares. | ||
The Series A, Series B, and Series B1 preference shares carry a 1x non-participating preference. On an exit or liquidation, the proceeds will be distributed as follows: | The Series A, Series B, and Series B1 preference shares carry a 1x non-participating preference. On an exit or liquidation, the proceeds will be distributed as follows: | ||
1. First, the Series B1 preference shareholders will receive the higher of (i) USD 33.55 per Series B1 preference share and (ii) the amount they would be entitled to if all shareholders shared pro-rata in the proceeds regardless of share class. | |||
2. Second, the Series B preference shareholders will receive the higher of (i) USD 33.55 per Series B1 preference share and (ii) the amount they would be entitled to if all shareholders shared pro-rata in the proceeds regardless of share class. | |||
3. Third, the Series A preference shareholders will receive the higher of (i) SEK 251.9747 per Series A preferred share and (ii) the amount they would be entitled to if all shareholders shared pro-rata in the proceeds regardless of share class. | |||
4. Finally the remaining proceeds will be distributed amongst ordinary shareholders. | |||
The Series B preference shares also carry a broad-based weighted average anti-dilution right, i.e. in the event the company issues shares at a lower share price than USD 33.55, holders will be entitled to additional shares at nominal value to mitigate some of the dilution. | The Series B preference shares also carry a broad-based weighted average anti-dilution right, i.e. in the event the company issues shares at a lower share price than USD 33.55, holders will be entitled to additional shares at nominal value to mitigate some of the dilution. | ||
=== Lead investment === | === Lead investment === | ||
The lead investor has invested US $1,000,000 as part of this round at a share price of $42.09. This has been converted to EUR and reflected as €948,696.87. | The lead investor has invested US $1,000,000 as part of this round at a share price of $42.09. This has been converted to EUR and reflected as €948,696.87. We have also converted the share price and pre-money valuation based on an FX rate of $1 / €0.948. | ||
== Team == | == Team == | ||
'''CEO''' | '''CEO''' | ||
Johan Attby | |||
'''CFO''' | '''CFO''' | ||
Daniel Nyholm | |||
'''Chief Operating Officer''' | '''Chief Operating Officer''' | ||
Stina Granberg | |||
'''Chief Technology Officer''' | '''Chief Technology Officer''' | ||
Rickard Svedenmark | |||
'''Chief Product Officer''' | '''Chief Product Officer''' | ||
Johan Mohlin | |||
'''Chief Marketing Officer''' | '''Chief Marketing Officer''' | ||
Lisa Kennelly | |||
==Risks== | ==Risks== | ||
Line 98: | Line 121: | ||
===Illiquid investment=== | ===Illiquid investment=== | ||
The number of transactions in shares of private companies is usually significantly lower than in public companies, typically resulting in it taking longer to sell shares in private companies at a price that is at least equal to the price that the shares were bought at. Accordingly, the Fishbrain investment opportunity is considered to be higher risk than more liquid companies. | The number of transactions in shares of private companies is usually significantly lower than in public companies, typically resulting in it taking longer to sell shares in private companies at a price that is at least equal to the price that the shares were bought at. Accordingly, the Fishbrain investment opportunity is considered to be higher risk than more liquid companies. | ||