INVEST IN LOFTIE TODAY!

Designed for Better Sleep

Loftie is a wellness company using creative solutions and stylish, innovative products to help people rest, relax, and recharge. We embrace mindful technology, thoughtful design, and a joyful approach to wellness to create products and services that substantially improve sleep for our customers. We have been in-market with our Loftie Clock since 2020, and we just launched our newest product, the Loftie Lamp, in August of this year. This fall, we are planning on launching our subscription-based audio content.

This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Loftie

$47,398.50 Raised

Reasons to Invest

  • Direct to Consumer sleep leader: At Loftie, we aim to become the go-to sleep brand for the modern consumer. We designed our products, including our Loftie Clock, Loftie Lamp, and app, to work together magically, creating a seamless wind-down and wake-up, to fix sleep, not just track it. 


  • The market is huge: The Frost & Sullivan Assessment forecasted the Global Sleep Economy to be $432 billion in 2019, growing at a CAGR of 6.3%, with expectations to reach $585 billion by 2024 (Source).


  • Top tastemakers love it: We have won multiple design awards, and our Loftie Clock has been a Wirecutter pick for two years in a row (Source). While the majority of sales are DTC, Loftie can also be found at high-end retailers, including the MoMA Design Store, goop, and Saks Fifth Avenue.




Overview


Sleep Wellness Products For Better Rest


At Loftie, we are creating a scalable platform of sleep products and services to help customers improve the quality of their rest and relaxation. We launched our first product, the Loftie Clock, in 2020 and since then have sold over 40,000 units. Our next major product, the Loftie Lamp, launched in August 2022. This fall, we are releasing subscription-based audio content that can be used alone or in tandem with the Loftie Clock, featuring much more of our exclusive, unique audio content.

The Problem & Our solution


Don't Just Track Your Sleep. Fix It.

Sleep wellness is growing as a concern for consumers, but too many sleep products currently on the market are solely focused on sleep tracking or are too heavily phone-based (there's even a new condition, orthosomnia, which in a nutshell, entails becoming so obsessed with tracking your sleep that it impairs the quality of your sleep). We believe people need sleep solutions that actually help transform ingrained behaviors to substantially improve sleep.



One by one, we are creating a suite of products designed specifically to get users off of their phones for a better night’s rest. Through our Loftie Clock and Loftie Lamp, we strive to improve our customers’ sleep environments, aiding in shaping healthier bedtime routines.



What if wake-up and wind-down content were as unique, engaging, and routine as your Netflix page? With Loftie, we believe it can be. The content created for our subscription-based audio content is 100% unique and each piece of our content has a creator and a story behind it. We anticipate launching our subscription-based audio content this fall.


We provide organic nature sounds, recorded straight from the source by Loftie's 
in-house field recorder. All of our content is accessible, you don't need to be an expert to enjoy the classes we offer. Additionally, we work with influencers to create fan favorites and create content for kids, by kids, making our content enjoyable for consumers of all ages.



In the future, our content will allow you to mix and match tracks for personalized sleeping sounds. Having trouble deciding which tracks to mix? Let us decide for you. Our content will be synthesized by Machine Learning that is customizable, user-sourced, and generative. Missing the sounds of your childhood home or your favorite coffee shop? We plan for Loftie Content to provide an opportunity for the user to upload their own audio content, and let others listen too. 


Our products work together to deliver a holistic sleep wellness experience. With the Loftie Lamp, Loftie Clock, and Loftie Content (available now to Loftie Clock owners and soon through our subscription offering), we are creating the Loftie Experience: a scalable system of products and services that work together, with the potential to create significant Customer Lifetime Value.

the market & Our Traction


A Huge, Growing Market and Enthusiasm For Our Product


The sleep industry is currently valued at $432 billion (Source). Sleep wellness in particular has emerged in the past few years as a major new market segment, as seen with companies like Casper, Apple, Calm, and Headspace.  


So far, we have achieved the following milestones:

  • Over 40,000 Loftie Clocks sold, more than doubling our revenue year over year. 
  • Loftie generated $2.5 million in revenue last year with a YoY growth rate of 253%. Trailing Twelve Month (TTM) revenue from August 2021 through July 2022 is $3.5 million.
  • Named one of Wirecutter’s Best Alarm Clocks in both 2021 and 2022 (Source). 
  • Availability directly at byloftie.com, on Amazon, or in top-tier retailers, including the MoMA Design Store, Goop, Saks, and Kon Marie
  • Recipients of a Fast Company Award and a CES Innovation Award. 
  • Patents and trademarks protect our products in the U.S., EU, UK, and China.

Why Invest


Investing In A New Approach To Sleep


We envision ourselves becoming leaders in the sleep and wellness markets, offering real solutions and building community around our products. In the future, we plan to expand our app to include high-quality sleep and wellness content, sleep courses and coaching, and live wellness sessions that collaborate with our physical products to optimize rest and recovery. 


Join us, as we change the way the multi-billion dollar sleep industry helps its customers prioritize sleep wellness.

Code View

ABOUT

HEADQUARTERS

26 Grove Street 5C
New York, NY 10014
VALUATION

$30.04M

Loftie is a wellness company using creative solutions and stylish, innovative products to help people rest, relax, and recharge. We embrace mindful technology, thoughtful design, and a joyful approach to wellness to create products and services that substantially improve sleep for our customers. We have been in-market with our Loftie Clock since 2020, and we just launched our newest product, the Loftie Lamp, in August of this year. This fall, we are planning on launching our subscription-based audio content.

TEAM

Matthew Hassett
Matthew Hassett
Founder / CEO

Matt began working on the project that eventually became Loftie at the design firm IDEO where he was an Entrepreneur in Residence. Before founding Loftie, Matt worked in communications, policy, and program design at the Center for NYC Neighborhoods, Morgan Stanley’s Global Sustainable Finance group, and the City of New York. Matt is a graduate of Brown University and the Harvard Kennedy School

Lindsay Tyrpien

Lindsay Tyrpien

Chief Creative Officer

Lindsay is a creative executive with 10 years of experience in the design industry. Past experience includes IDEO, Christie’s, and Ralph Lauren.

Lauren Suiter

Lauren Suiter

Chief Product Officer

Lauren has a BA from Brown University and a MFA in Transdisciplinary Design from Parsons School of Design. She spent three years at the Center for NYC Neighborhoods, a homeownership nonprofit, in the communications department. Lauren specialized their MFA in human centered design and product development.

TERMS

Loftie
Overview
PRICE PER SHARE
$3.38
DEADLINE
Feb 17, 2023
VALUATION
$30.04M
AMOUNT RAISED
$47,398.50
Breakdown
MIN INVESTMENT
$297.44
MAX INVESTMENT
$999,989.90
MIN NUMBER OF SHARES OFFERED
2,958
OFFERING TYPE
Equity
ASSET TYPE
COMMON
SHARES OFFERED
Non-Voting Common Stock
MAX NUMBER OF SHARES OFFERED
365,384

Maximum Number of Shares Offered subject to adjustment for bonus shares


Company

:

Loftie, Inc

Corporate Address

:

26 Grove Street 5C, New York, NY 10014

Offering Minimum

:

$9,998.04

Offering Maximum

:

$1,234,997.92

Minimum Investment Amount

(per investor)

:

$297.44











Terms


Offering Type

:

Equity

Security Name

:

Non-Voting Common Stock

Minimum Number of Shares Offered

:

2,958

Maximum Number of Shares Offered

:

365,384

Price per Share

:

$3.38

Pre-Money Valuation

:

$30,044,441.44











*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.

Investment Incentives & Bonuses*

Audience-Based:

Purchasers of Loftie products prior to 10/11/2022, on the company's website (or holding an active Loftie account), receive 3% bonus shares. For eligibility purposes, investors must use the same email used at byloftie.com and/or used for their Loftie account. 


Time-Based:

Early Riser

Invest within the first 48 hours and receive 15% bonus shares.

Night Owl

Invest within the first week and receive 10% bonus shares.



Amount-Based:

$500+ | Lavender

Access to the Loftie Owners Club: 

Private Slack Channel with Loftie team 

Access to special discounts, promotions, and early product releases

Public acknowledgement of investment in Loftie Newsletter 

Loftie swag bag with tote, hat, and shirt 

 

$1,000+ | Chamomile

All level 1 perks PLUS:

Invite to Owners Club Zoom call with the team

$200 product credit 

 

$2,500+ | Milk and Honey

All level 2 perks PLUS:

5% Bonus Shares

Total product credit of $300 

Private phone call with Founder 

 

$5,000+ | Valerian

All level 3 perks PLUS:

8% Bonus Shares 

Total product credit of $400 

Invite to private Loftie office tour and cocktail hour in NYC, with soundbath session

 

$10,000+ | Melatonin

All level 4 perks PLUS:

10% Bonus Shares

Total product credit of $500

Work with our team to personally select a new soundscape to be added to the Loftie content library

*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

Loftie, Inc will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Non-Voting Common Stock at $3.38/ share, you will receive 110 shares of Non-Voting Common Stock, meaning you'll own 110 shares for $338. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investor's eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.

Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and the time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and an audience-based bonus of 3% for prior purchasers, in addition to the aforementioned bonus.

Irregular Use of Proceeds

Example - The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

PRESS

Article Image
Real Simple

2022 Sleep Awards: The Best-Ever Tools for Better Sleep, According to Real Simple Editors

Article Image
This Smart Alarm Clock Helped Me Kick My Phone Out of the Bedroom and Sleep Better

As I found myself scouring the web for an alarm clock, scrolling through what felt like an endless array of large, bulky, and frankly unsightly versions, I came across this small, sleek option and its catchy tagline: “The world is a stressful place. Your bedroom doesn’t have to be.”

Article Image
The Best Alarm Clocks

After a phone-free week of testing, we recommend seven clocks for a more peaceful bedroom.

Article Image
I Stopped Using My Cellphone As an Alarm Clock—You Should Too

I stumbled upon Loftie after an admittedly cringey Google search for “millennial alarm clock.”

Article Image
Design Milk

Loftie Is Alarmingly a Gentler Way To Wake Up

ALL UPDATES

01.25.23

Before Loftie: Quietcoin and Deliberate

Matt with colleagues at IDEO New York.  


Over the next few days, I want to take you back in time and elaborate on just how exactly we’ve arrived here. Today, we’re rewinding to the summer of 2017. I was an Entrepreneur in Residence at IDEO New York. I was midway through grad school and working on a very different business concept (an investment platform for professionals in nonprofits – long story short, they often get way worse retirement plans than other professionals, LAME!). That summer, crypto – Bitcoin and Ethereum, namely – were big topics. It led me to think a lot about what exactly is valuable and how is that value transacted. 


I’m not sure the exact order of these thoughts, but I recall standing around talking about how a few friends at IDEO were managing their social media use. Some were going to what seemed like extremes – getting off of Facebook entirely, deleting Instagram every weekend and re-downloading it each Monday. By then, I knew enough about the IDEO design thinking process to know that if people were doing some kind of hack-y process, there was probably a design opportunity.


I then thought: Why shouldn’t we be paid for our attention? Paid for the disruption of our quietude? At first, it was really just a joke with two friends at IDEO. I called it QuietCoin (if you click this link, you can see an early prototype; turn off your internet and you’ll start earning some sweet coin – note: this is truly all conceptual, sorry, coin fiends). As per the GitHub link, the coding is all props to George Hastings. We actually were insane enough to try to create an equation that mirrored the shape of the time online of the average American such that the value of the QuietCoin earned was higher the more likely you were to be online. 


Earning QuietCoin for being offline


The other piece of this is, but of course: What would one do with all this QuietCoin once you racked it up!? Well, we thought it could be redeemed for points for stuff that was good for you, like a subscription to Headspace or a nice fresh juice. This wasn’t so far fetched as a couple of other businesses were getting started with a similar premise. We quickly spotted “Sweatcoin,” which apparently is still around and recently emailed me to see if we could offer Loftie products in their marketplace. And so, too, I see, is Pocket Points, which at the time was geared at students at colleges. They had geolocation on and knew when you were on campus. If you were in a college building, you’d get points for being offline. Smart! The rewards were of course like local late night pizza places; I mean, they knew their demo.


I thought: Could we not do something similar with young professionals who (a) wanted some structure to create better digital boundaries, and (b) were going to…you name it…Juice Press, SoulCycle, Starbucks, etc…all of which were paying lots of money for advertising. Would those companies be willing to offer rewards on our platform? That quickly brings you to the ClassPass business model, which started as just selling subscribers class packs made up entirely of free trial classes that the young company would sign people up for. The trouble with ClassPass (and GroupOn) is that the partner businesses would quickly discover that they were getting mostly deal seekers who would never come back as a full paying customer. That leads to a sales organization that’s constantly mining for new partners and eventually runs out of them and has to pivot the offering. 


I could go on about this at length, but I’ll spare you. The good news for me was that this newfound excitement for startups and tech businesses led me to take as many classes across the river at Harvard Business School as I was allowed to (I was enrolled at the Harvard Kennedy School, where I quickly chose the “Business and Government” track and tried to focus all of my classes there on economics and things that tied back to business). Every HKS graduate has to do a big research project – mine was, naturally, about QuitCoin, going into all of this. At HBS, I had the privilege of taking two amazing classes from Jeffrey Rayport, “Launching Technology Ventures” and “Scaling Technology Ventures,” in which I learned all about CAC, TAM, LTV, etc etc. over and over again, looking at all kinds of businesses from ClassPass to Chewy to Nectar. I had the pleasure of working for my classmate Christie Horvath on her idea for a pet insurance startup called Wagmo. In short, it was a great time. I loved it. 


My notes from a Launching Technology Ventures class - this one was about ClassPass. The founder Payal Kadakia came to speak with us.


After graduating, I headed back to IDEO New York, this time with an intern, a friend from HBS, Sarah Kalmbach, who was eager to learn about IDEO and what design thinking really meant. She enthusiastically agreed to help me explore what a real business coming out of the QuietCoin concept would look like (thank you Sarah). High on the list was a name without the crypto allusion. Here’s a sticky note session with lots of word associations from that time. I could write a whole blog post about my interest in Henry David Thoreau (and I have), but in short, hence the “Concord Technologies” and “HDT, Inc.” We went with Deliberate, which was in fact from Thoreau’s most famous line, “I went to the woods to live deliberately…” When people asked if it was deliberate (intentional) or deliberate (to think about), I thought to myself, well, we could always turn the website we made, godeliberate.com, into a website for jurors (that’s a joke). 


From a brainstorm thinking about what we might call this thing.


We followed the IDEO design research playbook and met with people we found largely through Facebook ads to talk about their relationship with their phones and the tech in their lives. We met one woman in her sixties who refused to get a cell phone (again, this was in 2018) despite her family begging her to get one. She was a big advocate for New York’s libraries; she often called them to ask the questions most of us would Google. We met a man in his thirties who was so obsessed with his phone that he preached to us about how he had to convince his wife that she was not using it enough and that was her problem, not his (this was a dark interview for us). 


After much research and design, we started with a prototype app called Deliberate that was available internally at IDEO New York. We ran a pilot. Users could set a budget for how long they intended to be on their phone. If they stuck to it, they got points. The points went away the longer they went over their budget (HKS economics classes, specifically the concept of loss aversion, was definitely coming in handy here). 


A screen from the Deliberate app. 


Posters at IDEO New York advertising the Deliberate app.


The points could be redeemed for fun things like a SoulCycle class or a cocktail at my favorite West Village restaurant, Buvette, as well as some prizes from our friends at IDEO, like a drawing by Quinn Swire, daughter of Ben Swire, who would later write our book The Mysteries of Sleep (and of course, sister to Phoebe, the creator of “Phive Minutes with Phoebe,” our fabulous sleep series for kids on the Loftie Clock). Or a pair of eyeglasses designed by Selma Durand, who later designed the Loftie Lamp (it all goes back to IDEO; this is the tip of the iceberg on our roots there). 


Sarah Kalmbach putting the final touches on an ad for Deliberate - a prize featuring custom-designed eyeglass frames from Selma Durand, our IDEO colleague who we would later recruit to design our second hero product, the Loftie Lamp.


Alright, I’m WAY over my word limit here and we’ve got a meeting shortly on our 2023 OKRs. In the next post, I’ll pick up on what happened to Deliberate. Sleep well!


-Matt

01.17.23

Why Are We Here?

Don’t worry, I’m not getting metaphysical. I mean: Why are we, Loftie, here on StartEngine? The short answer is: We need your help to cross the last gap to profitability, which will open up so many options for us as a company. Not to mention: We believe we can deliver great returns to our early investors. But I’ll back up a second. Let me give you the quick recap of how we got here, financially. 

Right now, Loftie is a family-owned company. I’m the majority shareholder and my family and I are the largest investors. I am all in on Loftie. I am grateful to my family and friends for believing in what I was building – and for keeping Loftie going over the last two years of rapid growth, while many, many VC investors have said, “Love what you’re building, keep us posted when you've…X, Y, Z.” 

Making a consumer electronic product takes a year, minimum, just to get something to market (not even including actually marketing and selling it). It’s a real slog! But when, as an entrepreneur, you see a gap and a solution, and it’s clearly not something you can just spin up on an app and the cloud alone, it’s so incredible to bring it to life. The upside of it being hard is that it’s naturally a moat: Not a lot of other people will be willing to go through the time and expense of making what you make, especially if it’s sufficiently unique, beautiful, and magical. I’ll be writing more about how we developed both the clock and the lamp soon, but today I want to talk about the company as a whole. 

We’re still closing out the 2022 financials, but high-level, we reached $3.9 million in revenue, compared to $2.4 million in 2021. We did this without any VC money. Why is that? Well, most VCs start with the hackneyed “hardware is hard.” Yes, sure, it’s hard, but we’ve already done it so clearly that’s not the reason. That was perhaps a plausible take when it was just an idea, or even at the prototype stage, but I’ve found that this gets repeated even when we’re here, having manufactured 69,000 Loftie Clocks to date, with another 7,000 in production. 

In brief, the general reluctance comes down to two reasons, which an investor whom I respect a great deal for her clarity and immediate grasp of the business, put simply and transparently:

1. They want to see Monthly Recurring Revenue (MRR) à la a SaaS business. 

We would, too, and we’re working on an audio subscription add-on, but it takes time, money, and talent (designers, developers, etc.). We are very close to this milestone, but we need like-minded, visionary investors who see this opportunity, too, and can help us take on the challenge. One need only look so far as Calm and Headspace to see the enormous demand for sleep-inducing content, then talk to a handful of our customers and hear how immediately they agree with our core value proposition: unbundling this content from the smartphone, which is proven to be contraindicated for healthy sleep.

2. They want to see Repeat Purchases. “People are buying your first product, but will they buy your next hero product?” 

Hence the Loftie Lamp, which we just introduced last quarter and have seen strong traction with already (we sold nearly 500 in Q4). But more so than that: We think we have a compelling, unique selling proposition, as a mission-driven company, that will continue to set our products apart now and in the future. We’re serious about sleep. We know the science. We know people aren’t getting enough of it. And most tech products are built to keep you glued to them, certainly the smartphone is. Our products are built to unglue you, while not sending you totally back in time. Modernity, without giving up healthy sleep, your attention, and frankly a bit of humanity. 

I couldn’t agree more with those two goals; they’re mine, as well. But someone has to pay to get there. Every VC I’ve spoken to so far has wanted to wait and see us do it, despite the incredible success we’ve seen so far. 

VCs these days just have a very different incentive alignment than most individual investors. I fully understand the reality of the game they're playing. As Scott Kupor describes it in Secrets of Sandhill Road, they're looking at home runs over at-bats – in other words, they only need one big winner; the rest of the portfolio can go to $0 or do meh, it doesn't really matter. 

Many VCs used to be happy with a 10x return – and some still are, but they're a rarer breed. In our case, to produce a 10x return for an investor that invested at the current $30 million valuation, Loftie would need to eventually reach a $300 million valuation, which, at a conservative 3x revenue multiple, would necessitate the company reaching $100 million in revenue (this basic math assumes no additional fundraising). The new bar is a lot higher. For example, one prominent fund decided not to invest because they didn't see us reaching a $1 billion valuation. Here's how they put it:

"I had a chance to discuss with the team and unfortunately, we've decided pass on the opportunity. You have great traction and clearly a product that your customers love. Ultimately, we got held up the path to venture scale ($1bn outcome) and our newer consumer product thesis. While there is a market for big tech upgrades to existing consumer products, we're more focused on entirely novel products for new behaviors. It's really more of questions of firm focus right now."

Leaving aside the "novel products for new behaviors" aspect (I'm not entirely sure what that means), I can say that at least for myself as a shareholder, a $300 million valuation would be amazing. This same investor lamented that even a comp like Mirror "only" sold for $500 million to Lululemon. While I understand the point, that's an outcome I would LOVE to deliver to our shareholders. 

In closing, I ask that you take a moment, as I should do more myself, to wonder at all that this small team with a relatively small amount of capital has been able to accomplish. Now imagine what we could do with even a moderate amount of additional equity investment, like, say, $1 million on StartEngine! 

Thanks for reading. I’ve got lots more to share with you in the coming days. I hope you’ll consider investing, or if you’re not ready to invest today, please do follow our campaign so we can get to know each other better. And to that end: I want to hear from you. What are your questions? Please share them here. I’ll answer any questions I can (there are some compliance limitations over what I am able to say, but I’ll try my best). 


Sincerely yours,

Matt Hassett

Founder and CEO

01.13.23

Notice of Material Change in Offering

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Loftie offering. Here's an excerpt describing the specifics of the change:


Issuer is extending the campaign end date


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

01.06.23

What's Next After an Amazing Holiday 2022

CES 2020 - Matt Hassett (L) and George Hastings (R)


I’m on my way out to my third CES show in Las Vegas today. I first went in January 2020. I was there with George Hastings (our first designer and my salty, but highly encouraging friend) and Ryan Rhodes (our first, best, and lead developer). We stayed at the Treasure Island hotel, where the pirate ship out front features a light and water show every hour (granted, that’s most places in Vegas). We had a booth in “Eureka Park,” the startup area. We had made a big canvas poster with a rendering of the clock. We had plastic models of what the outside would look like. And Ryan had a 133% version that he could stuff a Raspberry Pi and a screen in so we could show people an early version of what the UX would be like. 

2020 CES "Workslike" Prototype


Ryan had all of his soldering gear, cables, and of course electrical tape at the ready in his suitcase. This prototype was so truly held together with tape that we had to re-fashion it just about every hour. 

Ryan Rhodes at the Treasure Island with his travel prototyping gear. 


The best thing that came out of year one was getting that quality team with George and Ryan to rapidly prototype. Not to mention, the MoMA Design Store buyer came by and spotted us. Thank goodness she didn’t see the taped-up model, just the pretty render. Wildly enough, the Clock would end up in the MoMA Design Store that following winter when they became one of our very first retailers – and still a favorite! It never gets old stopping by the Crosby St. store on the way home from work and seeing our clock there.


Loftie's Booth at CES 2022


In 2021, CES was virtual. We won an Innovation Award in the Smart Home category. We got the trophy in the mail and sat it on the window ledge at our WeWork office in New York. In 2022, we again had a booth, this time a much better looking one as our amazing creative director Lindsay Rodabaugh had stepped in. But beauty aside, I can’t say a great deal came of our booth last year — a lot of the boomer techie demo that dominates at CES doesn’t really get the need for help putting our smartphones to bed to get better sleep, and that’s all good (they’re not usually our customers anyway), but it felt kind of like hitting our heads against the wall having the same convo over and over again when in fact we were seeing strong sales traction on our website and from retailers. Another development I didn’t LOVE: Someone stole everything in the booth overnight and then CES, the convention center, and security did zilch to find out what happened.


Long story short, in 2023, no booth. I’ll be meeting with our current contract manufacturer for the clock and lamp plus meeting with potential additional manufacturers who we will likely bring on as we grow and need more capacity and different expertise. We’ve manufactured nearly 70,000 Loftie Clocks to date, which is pretty staggering given where we were in January 2020! We’ve never sold more than in December 2022 so this really is still just the beginning. I’ll be sharing our Q4 results in an upcoming post soon in more detail, but the long and short of it is that we did close to $2 million in sales. All of this with no big VC investors — Loftie is truly a family-owned company — just a scrappy, determined, extraordinarily talented team 


Finally, I’ll close by saying: We’ve definitely been playing the strong silent type so far here on StartEngine. We had hoped to start the campaign in September, but weren’t able to launch until later in October and it's meant that our attention has been focused on holiday sales. I’m glad we made that choice and it has paid off, but I’m now going to do what I can to share with you all of the incredible progress this amazing team has made to date and how excited I am about the future of this company. If you’ve been waiting for a sign to invest, maybe this good news is it. Happy New Year. 


Matt Hassett

Founder and CEO

11.29.22

Webinar at 7pm ET

Our first webinar starts at 7PM ET this evening. If you've RSVP'd, you'll see a unique link in your inbox. If you've not yet RSVP'd, you can still join directly here.


We'll be sharing more about the company, our goals for this investment round, and answering questions submitted by you! See you soon. 


-Team Loftie 

11.29.22

Black Friday Cyber Monday

We had a great sales showing this weekend with revenue of over $250,000 across our own site and Amazon. We're on track for our November revenue goals, with strong wholesale numbers, as well, which we will share early next month when we close the books on November.


Did you check out the sale? We've extended it for 24 hours and we're announcing it here on StartEngine first. 

11.10.22

We want to hear from you

We’re scheduling our first investment webinar and we can’t wait to see you there. We’re curious to hear from you with questions about the company and the fundraise. If you’re interested, please sign up here.

This first webinar will take place on Tuesday, November 29th at 7pm ET. If you can’t make that time, don’t worry, we’ll be announcing more dates. Please do still fill out the form, though, so we can hear about what times would work better for you and answer your questions.

As for the fundraise: We are about $1,500 away from reaching $45k. Can you help us get there? This is a huge unlock. We’ll be featured in StartEngine’s weekly round-up of new campaigns and get exposure to many more investors from the platform's community. Thank you!


All the best,
Matt




11.03.22

Holiday sales are off and running

We kicked off our holiday sale on Tuesday: 15% off sitewide at byloftie.com. We also launched our new bundle SKU (the Clock + the Lamp) yesterday. Sales are up on both our website and Amazon. We'll be increasing our marketing spend across Facebook, Instagram, Pinterest, Google, and elsewhere through November and December to be top-of-mind for holiday gifting. Last year, Q4 constituted 40% of our $2.5mm annual revenue and we're eager to beat that record in 2022. 



We're now above $40,000 on StartEngine! $5k away from the $45k threshold we need to reach in order to be featured in StartEngine's email to their hundreds of thousands of members. If you're following our campaign, but haven't invested yet, can you hop in? Ten investors at $500 each and we are there.


In great sleep,

Matt Hassett

Founder & CEO

11.01.22

goop

We're excited to share that the newly launched Loftie Lamp is in goop's Holiday Gift Guide for 2022. The lamp joins the Loftie Clock, which debuted on goop in the 2021 Holiday Gift Guide. 



And as for the campaign? Over 40 investors have jumped in. To everyone following the campaign, we're calling on you to join in this week. We need your help to get to the $45,000 mark, the minimum we need to reach in order to be featured in StartEngine's weekly email highlighting new campaigns. Being featured there means getting in front of a much bigger audience within the community. Almost $28,000 down, so about $17,000 to go. That's around 35 investors at $500 each. Counting on you. Thank you! 


Matt Hassett

Founder & CEO 

10.26.22

Welcome Sleepyheads

Thank you to our very first crowdfunding investors for taking a leap with us: We're so grateful for your belief in our mission and trust in what we are building. We've raised over $26,000 in our first week. Wow. 


"Night Owl" 10% bonus shares end today -- in about two hours in fact. You'll get 10% more shares for every dollar you invest. 


We have lots of exciting product updates to share with you in our next update, but for now, we'll just say that we are so excited for the holiday season and gearing up for major sales volume. So jump in and become a shareholder today...


In good sleep,

Matt Hassett

Founder and CEO

Owners bonus
Stack Owner's Bonus & Rewards!

Members get an extra 10% shares in addition to rewards below!

REWARDS

Multiple investments in an offering cannot be combined to qualify for a larger campaign perk. Get rewarded for investing more into Loftie.

$297.00

StartEngine Owner’s Bonus

This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.

$500.00

$500+ | Lavender

Access to the Loftie Owners Club: Private Slack Channel with Loftie team Access to special discounts, promotions, and early product releases Public acknowledgement of investment in Loftie Newsletter Loftie swag bag with tote, hat, and shirt

$1,000.00

$1,000+ | Chamomile

All level 1 perks PLUS: Invite to Owners Club Zoom call with the team $200 product credit

$2,500.00

$2,500+ | Milk and Honey

All level 2 perks PLUS: 5% Bonus Shares Total product credit of $300 Private phone call with Founder

$5,000.00

$5,000+ | Valerian

All level 3 perks PLUS: 8% Bonus Shares Total product credit of $400 Invite to private Loftie office tour and cocktail hour in NYC, with soundbath session

$10,000.00

$10,000+ | Melatonin

All level 4 perks PLUS: 10% Bonus Shares Total product credit of $500 Work with our team to personally select a new soundscape to be added to the Loftie content library

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RAISED
$47,398.50
INVESTORS
56
MIN INVEST
$297.44
VALUATION
$30.04M

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