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 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.
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:
The 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.
- 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 firstname.lastname@example.org 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.
- $500 in stock
- an additional $500 in discounts you can use for your own gear or gifts, share it with family and friends, whatever you like.
- 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.