SlingFin and the new JOBS Act Title III Crowdfunding rules – a funding revolution

On 5/16/2016 the rules for investing in independent startups will change.

The new law means that investing will no longer be limited to the rich. Everyday people…gear nerds, outdoor enthusiasts, family and friends…will be able to invest amounts as small as $100 in a ‘Kickstarter-with-equity’ model where many small investments add up.

This means SlingFin will be able to raise the capital we need from our natural community.

SlingFin Logo StickerWe want SlingFin to grow as a result of our direct connection with you, our supporters!

SlingFin was founded with a mission: to design and build gear of the highest quality by focusing on solving design problems important to mountaineers, climbers, backpackers, bike campers and enthusiasts of similar human powered sports.

We need working capital to bring in inventory, create new designs and move the business forward.

We’ve all seen brands we loved diluted as a result of the deals they have had to make to raise working capital. Primarily as a result of the need to deliver short term growth rather than maintain focus on a solid long term strategic vision, these brands are now a ghost of their former selves.

The new rules will let our vision and that of our investors stay aligned. We will be able to grow and prosper strategically in a way that does not dilute our core mission or long-term prospects.

Gear! Trips! Adventure! Design!

To cement the alignment, we will be offering benefits to investors such as reduced prices on gear, investor trips, and unique gear. We’re still working this out, but, for example, investing $1000 would get you $1000 in stock and also $1000 in discounts towards SlingFin products (we will be adding backpacks, headwear and some fleece clothing to our product line in the near future). This discount would never expire and could be used by you or shared with family and friends. While these benefits are worthless to folks that don’t love the outdoors, they are of substantial material benefit to folks that do…hence increasing the odds that a SlingFin investor is a true SlingFin fan.

Community.

Part of what excites us is the implications of this change for the outdoor industry as a whole. By enabling the folks creating real consumer value, e.g. outdoor gear designers and developers, to build independent businesses, the new Act will facilitate better gear and better brands.

The gatekeepers will stop being the suits and start being folks with a deep knowledge of the domain.

Calls to action.

Are you interested in investing? Want to help move the effort forward? Want a cool tent or just a bit of SlingFin swag? Here’s what you can do:

  • Sign up for alerts. We’ll let you know when our page Wefunder page is live.
  • Spread the word! Tell your friends. Get SlingFin swag! (see Swag Notes below.)
  • On 5/16/16, check out our Wefunder page and take action. (see a bit more about how this all will work below.)

A bit more about how this all will work:

wefunder logoThe new regulations require that these funds be raised through a registered ‘equity crowdfunding portal’. All specific information and communication about the deal must route through them. (The idea is to prevent a con-operation from putting up a good looking website and trying to make a one shot grab for your money.)

We have the great good fortune to be appearing on the Wefunder.com portal; the Wefunder founders helped pass the enabling law and have a stellar reputation in the alternative funding community. Here’s a look at their team.

Wefunder Operations Director, Dylan Enright, a former river guide and ski instructor, wants to see the Wefunder portal become the go-to location for outdoor brands to connect with outdoor enthusiasts.

Wefunder decided to make a splash by finding 20 exciting new companies to launch on the new Title III part of their portal. SlingFin is honored to have been selected as one of those companies. Our fundraising efforts will be live on the Wefunder site when they flip the switch on 5/16/16.

Swag Notes

  • The swag: loop in 10 friends for a SlingFin sticker; loop in 40 friends for a SlingFin Tagua Nut Pendant. (See the images below.)
  • What to do:  Email your friends or contact them on Facebook.
    • Email – Include list@slingfin.com in the To or CC fields and we’ll give you credit.
    • Facebook use @slingfin in the email message along with whomever you’re targeting and we’ll give you credit for all the @s. Ask your friends to Like the SlingFin page.

Sample text:

¡Viva la revolucion!  SlingFin is one of the startups in an investing revolution!  If you love the outdoors and want to help a startup, you can help SlingFin in their quest to raise working capital in 30 days.
To make it easy for gear nerds to invest, we are adding Kickstarter-like premiums to the SlingFin stock you would acquire.
A $500 investment to help SlingFin would give you:
  • $500 in stock

      PLUS

  • an additional $500 in discounts you can use for your own gear or gifts, share it with family and friends, whatever you like.
This gear includes:
  • Tents
  • Packs
  • And future SlingFin products

We intend to go live on 5/16 but need your help letting folks know. We’re looking to connect with friends of friends via email or Facebook. We’ve got swag and, of course, our undying gratitude for you if you can help with a few minutes of outreach!

There’s detailed information about this on SlingFin’s Blog and you can keep up with developments via SlingFin’s mailing list or their Facebook page. You can, also, email info@SlingFin or contact Rich, Martin, or Al @SlingFin for details.

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Go shred ‘lil dude!

The Start House has been put in to use by a youth ski team as, you guessed it, a Start House!

The team placed the tent at the top of the ski run for a place to stay warm, tune skis and review the video from the last run without glare.

The door is so wide on this tent that the ‘lil shredders can ski right out the door and down the slopes.

The Start House is made almost entirely of ET70 fabric coated with titanium dioxide, giving it tremendous staying power.  The Start House could be left there for seasons on end, but as it turns out, the instructors liked the mobility of the shelter, moving it to multiple runs in the same day.

This very Start House is currently on its way to Nepal with a team of russians attempting an unclimbed peak.

We will keep you posted on that.

=D

Back from Outdoor Retailer

Tim does a little “tent yoga”The SlingFin Crew @ Tent City.  We figure, we make outdoor products… why not be outdoors!

The BFD was a surprising sanctuary during the heat of the day. With temperature in the upper 90s all week, I haver never seen a tent this big that stays this cool, and with all the vents and doors open the shade in the tent was cooler than outside. 

SlingFin is making headlines!

No, its not because of the reports of U.F.O sightings on Gilman St..

The outer shell of a OneUP suspended above the inner tent.

 

 

It’s about L.F.D sightings on Everest!

The L.F.D in Camp 2 (21,300 ft) Photo- Mountain Trip.

“When a team of climbers reached the summit of Mount Everest on Thursday, they had a significant advantage over other teams this spring, many of whom were forced to turn back short of the world’s tallest peak by bad weather.”…..

 

……”Our goal is not to build this business up and sell it off. We’re not a marketing company; we’re a product-driven company that in the long run will translate into relationships with the people who appreciate this gear and will support it. In the short run it will be very challenging, but this is the way to properly brand the business in the long run.” Read the entire article here.

=D

MOUNTAIN TRIP IS ON TOP OF THE WORLD!

Ephi just waiting to get into his tent

Thanks to the strong and experienced guides at Mountain Trip, they had a 100% summit success!

All the comforts of home in our big dome! Laurie brings sushi to base camp.

 

And what from what i’ve seen from the crew so far, this group does it right. Sushi at base camp? Labatts beer at Camp 3 @24,500ft ?  Days of extras oxygen at Camp 4? Sounds like Mountain Trip pulls out all the stops for their clients, add to that guides like Scott Woolums and Bill Allen who have spent more nights in the back country than an alaskan bear cub, and you have a recipe for a solid expedition team.

A.A.I HAS DONE IT! EVEREST AND LHOTSE DOUBLE SUMMIT!

Alpine Ascents’ website officially reports: At 4:22 am on May 20th 2011, Garrett Madison, Tom Halliday and Kami Rita Sherpa made the summit of Lhotse!

This is a truly amazing feat of mountaineering in all aspects of the sport. The level of skill and sheer endurance that this type of climb requires is possessed by very few people on this earth.

Garett Madision and his Rain-on tech box that allowed him to tweet from the summit of both mountains

CONGRATULATIONS BOYS!

The Guides’ Choice.

Inside the L.F.D during the windstorm. Human reinforcement!

It says a lot when a guide chooses a tent on Everest.  This shelter must be  exceptionally strong, after all this space will be your sanctuary when you need it most.  If a hurricane is blowing in the bay of bengal and  the temperature in Camp 2  @ 21,500ft drops to -20f  with gale force winds, the tent you have chosen is not just a structure…  It’s life support.

The L.F.D still standing at Camp 2 after a heavy wind storm.

And this is just what happened at Camp 2 on May 6. A big wind storm kicked up at night and blew fierce in to the morning, reports speak of 50-80 mph winds that devastated 30% of the entire camp. The Mountain Trip team only lost two tents in the ordeal and everybody is doing just fine.

“Just wanted to let you know that the LFD is hanging tough up at Camp 2 (21,500 ft +/-) in 50-80mph winds while other tents are snapping poles.  Scott Woolums is up there today, and said the dome is doing great.  I just came down to base camp yesterday with my crew, after spending the last week up there and really think that the LFD is the best dining tent or dome up at Camp 2.  We really appreciate all the windows, and ventilation options, the big doors, etc.   The biggest concern that we had was how it would do in the wind, and it is standing up to the test right now.  We were able to secure it really well all the way around.  Climbers from other teams stop by regularly to check out the dome and I think they are all jealous.”
-Bill Allen Mountain Trip.

Rows of flattened tents @ 21,500 ft in Camp 2.

This is where the little details become HUGE factors.

SlingFin is the first to use ET70 (titanium dioxide bias binding) on the tent body and perimeter (BFD and LFD). This is an important detail since nylon and polyester bias bindings will degrade much sooner than the rest of the tent which is made of ET70.

All perimeter tie-outs and grommet tabs have a grosgrain reinforcement. This helps to strengthen the tent fabric in high stress areas where the fabric is under excessive tension or areas with bar tacks.

SlingFin tents are equipped with Easton® Expedition grade 7075-T9 tent tube. Easton aluminum tent tube is hard anodized and has the highest yield strength available in the industry.

All stress points are reinforced with extra fabric or grosgrain and sewn with a bar tack or reinforced by back tacking the stress area. Back tacks are most commonly applied to stress areas that would be damaged by a bar tack machine.

These are some of the little details and fine points that separate a thoughtfully designed mountaineering dome from a pile of poles and fabric.

=D

First Image of the One Up on Everest!

Today is a big day for us. The first images of the OneUp nestled in on Everest at 19,800 ft  have come in courtesy of Garrett Madison. The wind has been howling up there pushing gusts of +60 knots over night. Garett and two other guides spent the night in the OneUp with the inner body set up for warmth and extra protection. Reports were that the vent system works great in high winds, allowing for minute changes in the zipper apex in order to control spindrift and airflow. The crew at AAI have been putting the SlingFin systems to the test in some of  the harshest conditions anywhere on earth. We gave Garett a custom Easton Carbon Fiber pole set for this expedition, shaving almost a pound off the total weight of the tent.

We are very happy to provide this level of high-end gear supply to guide services on Everest. We see it as a mutuality beneficial relationship. They get a supply of what may be the finest expedition shelters ever made, and in return they get to beat the living bejezzus out of it, and come back with advice and design ideas that are impossible to test under average conditions.

THE ONEUP IN CAMP 1. LOTSE, NUPTSE AND THE WEST SHOULDER OF EVEREST IN THE BACKGROUND

=D