Vestaboard, Inc.
Inspire From Anywhere
San Francisco, CA
Technology
Consumer Products
Vestaboard is a smart messaging display that can be controlled from anywhere. We have totally reimagined the design of a split-flap display you might have seen in a European train station, bringing it into the 21st century. Vestaboard can receive automated updates from many of your favorite apps via IFTTT, including Calendars, Slack, Teamsnap, Alexa or Google Home, and can support enterprise-level solutions via our API.
$148,479
raised
101
Investors
$14.3M
Valuation
$1.70
Price per Share
$498.10
Min. Investment
Preferred
Shares Offered
Equity
Offering Type
$1M
Offering Max
Reg CF
Offering
Rewards
Get rewarded for investing more into Vestaboard, Inc.:
$500+
Investment
First Volume Tier
Invest $500: receive recognition for you and / or your family members by name on the Founder’s Vestaboard maintained by Vestaboard at its offices and celebrating Vestaboard owners and customers. See more in terms below!
$2,000+
Investment
Second Volume Tier
Invest $2,000 -receive founding customer benefits if you also become a Vestaboard customer. See more in terms below!
$10,000+
Investment
Third Volume Tier
Invest $10,000 or more and we will direct one Vestaboard unit to your favorite non-profit through our 1 in 100 Program.
Reasons to Invest
We've received $5.9 million in reservations by selling out our first production run of 3,000 Founding Edition units.
We closed a $3.8 million Series Seed Preferred financing between August and October 2020, and we have a vision to grow a large company with our flagship product, software and future products.
We began mass production in November 2020 and delivery of our Founding Edition units is underway. We expect to produce approximately 500 units per month of the Founding Edition.
"Inspire from Anywhere"
video
*Please refer to our image disclaimer at the end of our campaign for further details.
The Problem
Our devices and minds are saturated by the chaos of digital communication
We’re at our best when we feel connected and inspired by each other. But we are overwhelmed with constant messages and notifications, making it harder than ever to stay connected with each other, let alone inspired to create new things. That’s why we created Vestaboard, a beautiful smart messaging display you can control by mobile app that puts shared messages front and center with your favorite people. With Vestaboard, you can inspire from anywhere by easily sending messages that amplify your voice and create delightful moments of connection for others.
The Solution
A smart display that brings people together
Vestaboard is a modern internet-connected display that can be controlled from anywhere. Unlike other forms of electronic communication, Vestaboard offers focused, high-visibility messaging that brings people together and creates more inspiring environments.
*Please refer to our image disclaimer at the end of our campaign for further details.
video
*Please refer to our image disclaimer at the end of our campaign for further details.
The Market
A product in a large and fast-growing market which can be used in almost every segment
According to business research firm Markets and Markets, the global smart display and smart digital signage market is expected to grow from USD $861 million in 2018 to USD $6.6 billion by 2025, at a CAGR of 34.0%.
The market for smart displays and signage is in its infancy and the market segments that can and will benefit from smart displays are very large.
Vestaboard’s target markets include:
Homes - While Vestaboard is priced for modern, more affluent homes, based on our analysis we estimate there are at least 3 million homes in the United States valued at $1 million or more, meaning a target market potential of $6.75 billion.
Businesses - This includes targeted workplaces in offices, hospitality, retail, health services, educational institutions and real estate development firms. Based on our analysis, we estimate there are 21 million locations that operate in these areas in the United States across small, medium and enterprise businesses.
*Target Markets are based on Vestaboard's analysis of publicly available data relating to homes and businesses across the U.S.
Our Traction
With millions of dollars in preorders, we have begun mass production
video
*Please refer to our image disclaimer at the end of our campaign for further details.
Vestaboard has amassed $5.9 million in pre-orders representing over 3,000 units sold to customers, including from well-known companies and individuals, and we are now in production. We estimate our forecasted gross margin for our product based on its average selling price in 2020 to be between 35% and 40%. For recognized revenue in 2020 and 2021, Vestaboard expects its gross margin to be lower due to incentives in place to encourage early reservations prior to 2020. Please refer to our risk factors section of our Form C and our forward-looking information legend at the end of this page.
In December 2019 and January 2020, we manufactured 17 units for engineering validation testing. During June we manufactured 51 units for design validation testing and 21 of these first units were shipped to customers in the month of August. We moved to mass production in early November, and we estimate building approximately 500 units per month with no further material design changes.
What We Do
Connecting families, co-workers & guests like never before
*Please refer to our image disclaimer at the end of our campaign for further details.
Vestaboard can be used at home to create art, share messages with loved ones, post words of inspiration, and help with organization. It can also be used at work to keep team members and customers in sync and up-to-date. Our mobile app makes communication easy, allowing you to update your Vestaboard from anywhere in the world and send pre-scheduled messages. Additionally, via IFTTT.com Vestaboard can be connected to your Alexa or Google Home and can receive automated updates from your favorite apps, such as calendars, Slack, Teamsnap and more.
*Please refer to our image disclaimer at the end of our campaign for further details.
The Business Model
Direct to customers
Our direct to customer model currently operates through vestaboard.com. We make direct to business sales, as well, by marketing and selling our product to key decision-makers at offices, retail, hospitality, health services, education, real estate and property development companies. We also plan to build channel and sales relationships to reach customers through home and commercial technology integrators, architects & designers or international partners.
We plan to offer a mobile app and web service for free. We also plan to offer premium software access in the future, creating a potential stream of recurring revenue attached to Vestaboard. Even in the case of sales of Vestaboard via third parties, we expect to have a direct to end customer relationship through our mobile app and web service.
We believe our cloud and mobile software platform will be a significant source of growth for the Company in the future as we are able to add new devices in addition to our flagship models of Vestaboard.
How We Are Different
Vestaboard is not a screen but syncs with your favorite apps
*Please refer to our image disclaimer at the end of our campaign for further details.
We have created a versatile product that can be used in a wide variety of settings. Unlike traditional display signage, Vestaboard carries a unique and modern design that amplifies or complements any interior environment.
*Please refer to our image disclaimer at the end of our campaign for further details.
Vestaboard is accompanied by a suite of cloud and mobile software tools to control Vestaboard out of the box and allowing it to be updated from anywhere by individuals or team members. With a focus on messaging and information, its uses range from an inspiring message or family calendar inside the home to a menu display board or guest messaging system inside a business.
Vestaboard’s application programming interface (API) allows third party development on Vestaboard, opening up the possibilities for an ecosystem of applications for our customers.
video
*Please refer to our image disclaimer at the end of our campaign for further details.
The Vision
On a mission to grow, to connect and inspire more people
Our company’s purpose is to connect and inspire people with Vestaboard, and we have a roadmap of products that extends far beyond our flagship product.
Our vision is to grow a large business that connects and inspires more people. Here's our plan:
Bring Vestaboard to the world as a unique and well-loved flagship product - we believe in the coming 24-36 months we can sell and deliver tens of thousands of units resulting in growth for the business
- Deliver great cloud and mobile software - our cloud and mobile app will offer smart, automated and community-driven features for free and for a fee, building a platform for even greater engagement and possibilities
Launch more affordable devices that use our cloud and mobile software - we will use our design, hardware and software experience to produce more products that inspire and connect others, thereby substantially growing our community and strengthening our direct to customer business model with even more recurring revenue possibilities
*Please refer to our image disclaimer at the end of our campaign for further details.
Our Team
An experienced team where passion meets creativity
Our leadership, key members and advisors have worked on hardware and software development for decades.
Why Invest
We are ready to take our company to the next level
Vestaboard is on a mission to connect and inspire people in a large and growing market for digital and smart home displays. With just $3.8 million in capital raised, Vestaboard has amassed $5.9 million in reservations for its first and flagship product Vestaboard, delivered the first 21 units to its earliest customers and commenced mass production. The Company has completed design, prototyping, research and development for the product, and is actively working with a partner factory to assemble Vestaboard based on all parts and components that we have helped source and price, with customer shipments of hundreds of units already en route to homes and businesses. With these milestones under our belt, Vestaboard has begun mass production and is ready to change the way people connect and communicate with one another around the world.
video
*Please refer to our video disclaimer at the end of our campaign for further details.
Photos and Video Disclaimer.
There are photos and video of an actual manufactured Vestaboard on this page, but some of the photos and video on this page show a rendered or simulated product, or of our original prototype. We believe all images and video are an accurate portrayal of the final product, except to note that the actual manufactured Vestaboard has 6 rows, 132 characters and not 7 rows, 163 characters.
Offering Summary
Company | : | Vestaboard, Inc. |
Corporate Address | : | 1777 Yosemite Avenue, San Francisco, CA 94124 |
Offering Minimum | : | $9,999.82 |
Offering Maximum | : | $999,997.80 |
Minimum Investment Amount(per investor) | : | $498.10 |
Terms
Offering Type | : | Equity |
Security Name | : | Series Seed 2-C Preferred Stock |
Minimum Number of Shares Offered | : | 5,882 |
Maximum Number of Shares Offered | : | 588,234 |
Price per Share | : | $1.70 |
Pre-Money Valuation | : | $14,317,333.70 |
COVID Relief
This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary COVID-19 regulatory relief set out in Regulation Crowdfunding §227.201(z).
Expedited closing sooner than 21 days.
Further, in reliance on Regulation Crowdfunding §227.303(g)(2) A funding portal that is an intermediary in a transaction involving the offer or sale of securities initiated between May 4, 2020, and February 28, 2021, in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) by an issuer that is conducting an offering on an expedited basis due to circumstances relating to COVID-19 shall not be required to comply with the requirement in paragraph (e)(3)(i) of this section that a funding portal not direct a transmission of funds earlier than 21 days after the date on which the intermediary makes publicly available on its platform the information required to be provided by the issuer under §§227.201 and 227.203(a).
Forward Looking Information in this Campaign
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
Investment Incentives
Invest $500 - receive recognition for you and / or your family members by name on the Founder’s Vestaboard maintained by Vestaboard at its offices and celebrating Vestaboard owners and customers. Choose your name, a dedication to a loved one or family member, your favorite quote / message, a moment in history to honor, or whatever you can dream of.
Invest $2,000 -receive founding customer benefits if you also become a Vestaboard customer:
*Recognition on Founders’ Vestaboard described above.
*15% off future spend with Vestaboard: Whether it's your first purchase, shipping, white-glove installation, the purchase of additional Vestaboards, or any new products we introduce in the future (including individual "Bits"), you will receive a 15% Founding Customer discount whether you're buying for yourself, a friend or for your own business.
*First look at everything: We plan to make our Founding Customers aware of our special events, programs and products first, including an exclusive customer referral program that will generate further benefits.
*All perks occur when the offering is completed and only if the Investor becomes a paid customer. You are not a paid customer by participating in the offering - you must make an offer to purchase a Vestaboard on the Company's website.
Invest $10,000 or more and we will direct one Vestaboard unit to your favorite non-profit through our 1 in 100 Program.
Vestaboard has committed to delivering 1 out of every 100 units to non-profits. If you invest $10,000 or more, you will be able to direct one of these Vestaboard units to the non-profit of your choice. You will also get recognition on Founders’ Vestaboard described above. And, if you become a customer, you will also receive the Founding Customer benefits.
*All incentives will be completed after the offering.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Salary payments made to one’s self, a friend or relative. Vendor payments. Inter company debt or back payments.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$86,777.00
USD
$92,020.00
USD
Cash And Cash Equivalents
$80,325.00
USD
$77,622.00
USD
Accounts Receivable
$0.00
USD
$0.00
USD
Short Term Debt
$2,842,837.00
USD
$1,512,085.00
USD
Long Term Debt
$1,050,000.00
USD
$599,653.00
USD
Revenues And Sales
$4,950.00
USD
$27,010.00
USD
Costs Of Goods Sold
$2,018.00
USD
$5,576.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$1,786,567.00
USD
-$1,288,451.00
USD
Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Vestaboard In the Wild! Customer Stories keep Coming.
5 days agoAs we continue to deliver to more and more of our customers, nothing gives us greater delight than the images and videos they share enjoying their new Vestaboards. Take a look at our newest customer stories of Vestaboard In The Wild! And check here for more In the Wild!
See one customer's son cheer "Again!" for Vestaboard.
Enjoy this customer's tribute to her cat.
We love this customer's Vestaboard pattern.
StartEngine offering extended! Thank you for your interest.
11 days agoWe are excited to see a surge in interest since our January 12th Live Event, and we have decided to extend our offering. Mike and Cass Antle, investors from our accredited investor offering, emailed us just after the event saying “We are most impressed with Team Vestaboard and would like to invest another $100K.” We appreciate your backing as we work to build an extraordinary company with products that help our customers to inspire others.
For our existing StartEngine investors, we apologize for the legal requirement that you reconfirm your investment again. Thank you for being a part of Vestaboard.
You can watch a replay of the Live Event here.
Notice of Material Change in Offering
11 days ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Vestaboard, Inc. offering. Here's an excerpt describing the specifics of the change:
Vestaboard, Inc extended the length of their campaign.
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.
Live Event Replay Available Now!
12 days agoAt our live event yesterday, January 12th, Dorrian Porter, Vestaboard’s CEO and founder,
showed a demo of the Vestaboard mobile app and software,
reviewed the endless possibilities of APIs and Vestaboard,
highlighted recent customer deliveries,
unveiled the Founders’ Vestaboard,
introduced Inspire Community, Vestaboard’s community giving program,
and shared current investment offerings.
Watch the replay here. You can also learn more about the Founders' Vestaboard, as well as watch our other Live Event and Live Customer Q&A.
Last chance to RSVP for Vestaboard’s Live Event
14 days agoJoin us tomorrow, Tuesday, January 12th at 9:00 am Pacific for a live event hosted by Dorrian Porter, Vestaboard’s founder and CEO. Learn about Vestaboard’s plans for 2021, recent customer deliveries and investment opportunities. We look forward to engaging with you tomorrow. RSVP required.
Join us at our Live Event on January 12th at 9:00 AM PST
20 days agoPlease join us for a live event on Tuesday, January 12th at 9:00 AM PST to discuss Vestaboard’s progress and plans for building an extraordinary company. Dorrian Porter, our founder and CEO will host, and other team members will join the conversation. RSVP is required, and you can register here.
Tune in live for:
A demonstration of Vestabord’s software, including recurring messages and more
News about our recent investment offering, current offering and plans for 2021
Customer stories from our 415 deliveries in December 2020
Unveiling our Founders’ Vestaboard, including dedications from investors and Founding Customers
The introduction of Inspire Community, Vestaboard’s program to donate 1 in 100 Vestaboards to organizations and people who inspire others
We look forward to engaging with you next week.
Happy New Year! Join us for our live event on January 12th
24 days ago
Happy New Year to you and to our customers, investors and all who have been part of our Vestaboard community. We hope 2021 brings you health, happiness and prosperity. Please join us for a live event on January 12th to discuss Vestaboard’s plans for 2021. Registration details will follow in our next update.
At Vestaboard we remain focused on our goal of building an extraordinary company. Here are some highlights of our 2021 plan:
After selling out of our 3,000 Founding Edition Vestaboard units in 2020, we will scale our sales to the $6.6 billion target market. Vestaboards that will be delivered in July 2021 are available to purchase now.
Vestaboard will build and scale its software platform, including a premium software offering, to allow customers and developers to connect to hundreds of other services and create automations with Vestaboard’s installables for even greater engagement and possibilities.
Inspire Community, Vestaboard’s program to donate one in 100 Vestaboards to organizations and people who inspire others, will begin accepting nominations. The first recipients will be announced in March.
Vestaboard will launch its customer referral program, which will offer exciting benefits to both current and future customers.
We invite you to join us on January 12th to learn more about Vestaboard’s progress and plans for the future. Follow our updates here to learn more.
A message of gratitude from Vestaboard
25 days agoHappy Holidays! At the close of this incredibly challenging year, I would like to thank our investors for empowering our progress. It would not have been possible without you. After beginning mass production in early November, Vestaboard will have shipped Founding Edition units to 415 customers by year end.
Today Vestaboard is celebrating the launch of its new website. I am grateful to the Vestaboard team for their extraordinary efforts in creating this beautiful design. We are so excited to share www.vestaboard.com with you.
Look out for our new year's update next where we share our 2021 plans and goals!
Dorrian Porter
Founder and CEO
Why Invest in Vestaboard?
about 1 month ago“Vestaboard could become the next major communication medium,” says one of our recent investors.
Zain Jaffer, founder of Vungle, which sold to private equity giant Blackstone for over $750 million, recently blogged about the reasons he invested in Vestaboard. Jaffer noted that he chooses to invest in startups that can create an entire new market and are supported by a strong mission. While he doesn’t typically invest in direct-to-consumer products “Vestaboard has the opportunity to capitalize on consumer’s new unmet needs and innovate in the smart home & office communications space.” Read more about Zain Jaffer’s decision to invest in his blog Building a Visceral Experience: Investing in a Tech Startup that Inspires.”
Vestaboard sells out of Founding Edition units, closes $3.8 million seed financing and begins mass production
about 1 month ago |
Vestaboard's Founding Edition with inscription located inside of Vestaboard
Vestaboard is excited to focus on its StartEngine crowdfunding campaign after a successful Series Seed financing, commencing mass production and selling out of its Founding Edition.
Vestaboard sold out of all 3,000 Founding Edition units in November, amassing $5.9 million in pre-orders. Learn about the process, hard work and exceptional team that were part of designing and creating this beautiful product in our CEO’s recent letter.
Mass production began in November, and Vestaboard customers are receiving their Founding Edition units. The Company expects to ship 3,000 limited edition, specially inscribed “Founding Edition 2020” units between now and Spring 2021.
In October, Vestaboard held the second closing of a $3.8 million seed financing. Participants in the financing include seasoned technology investors who were also early investors, such as Hany Nada (board member at Houzz and DraftKings), Bob Abbott (former General Partner at Norwest Venture Partners) and Baroda Ventures (David Bohnett), as well as many of our wonderful customers.
The Company started delivering Vestaboard to some of its earliest customers in August, including celebrities like Jennifer Garner, entrepreneurs like Alexis Ohanian, engineers and more. Take a look.
Dorrian Porter is the founder and CEO of Vestaboard. Steve Zadesky, who led and built the teams at Apple for the first iPod, first iPhone, and hundreds of Apple accessory products, is an advisor to the CEO. The design and engineering team members behind Vestaboard helped launch successful smart home products such as the Amazon Echo and Nest.
We will now put our attention to the offering here on StartEngine and proceed expeditiously to promoting and closing this offering in the coming weeks. For our current investors, we note that you are asked to reconfirm your investment when we make a material update, and we thank you for your patience with this legal requirement. Whether as an investor, customer or both, we invite you to join us on our journey forward.
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