|1||Earn a 1.5X Return on your investment while helping launch a charitable marketplace. ❤️|
|2||1,458 Sellers have created a Shop in 2020. At 5,000 shops (in 16 months) we hit profitability! 💵|
|3||Harness the power of ecommerce to help children in need|
|4||By 2024 ecommerce sales in the US will grow 34% from $794 Billion to $1.2 Trillion. 📈|
In August 2020 goimagine launched the first ever marketplace focusing on social good by donating 100% profits to charity. Our platform specializes in handmade items connecting creative sellers and buyers throughout the United States.
With the launch of goimagine we are introducing the concept of the caring economy to eCommerce. Our mission is not only to donate our profits to children's charities, but encourage future businesses to do the same.
Giving all of the profits away might seem crazy, but successful companies already do it. The most well known is Newman's Own who has been donating 100% of their profits to charity since 1982. Through selling items like Salad Dressing and Pasta Sauce they have donated over $550 Million to worthy causes! (https://www.newmansown.com/)
Goimagine is bringing this same business model to ecommerce where the scalability is even greater.
We have quickly gained the attention of sellers, buyers and the media. Our story is one people want to share and talk about because we are creating light in an ever increasing dark world.
Goimagine is like most 2-Sided marketplaces connecting handmade sellers with buyers throughout the United States looking for unique and creative handmade items.
Our largest competitor is Etsy (https://www.etsy.com/). Etsy currently has over 2.5 Million sellers, 50 Million active buyers and has grown exponentially for years. As Etsy has grown and gone public on the NASDAQ stock exchange they are slowly leaving the handmade niche by allowing manufactured goods onto their marketplace to continue growth.
We believe as Etsy leaves the Handmade market there is a BIG opening for a marketplace dedicated to only Handmade products to pick up where Etsy is leaving off.
While still in Beta we were able to donate to our first charity; Horizons for Homeless Children in Boston, MA (http://horizonschildren.org/).
Now that the marketplace is operating and transactions are flowing it's time for goimagine to raise funds to scale things bigger. With this unique philanthropic business model we need to think creatively on how to raise funding which is why we are turning to equity crowdfunding.
When buyers and sellers come together on a Marketplace that Cares...everybody wins.
Thank you for your support of the #caringeconomy
goimagine has financial statements ending September 22 2020. Our cash in hand is $2,089, as of October 2020. Over the three months prior, revenues averaged $1,300/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $5,613/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
goimagine is a handmade marketplace connecting buyers and sellers throughout the USA that donates 100% Profits to Charity. We are a handmade marketplace like Etsy with the philanthropic mission of Newman's Own.
In five years, we hope (but not guarantee) to become the largest Marketplace focused solely on Handmade in the United States and inspire other entrepreneurs to start marketplaces with a similar philanthropic mission.
Historical Results of Operations
goimagine, LLL was originally organized in January 2020. On October 16, 2020, the company converted into a Public Benefit Corporation. The company has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
To date, the company has been financed by founder contributions.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 14 months before hitting profitability.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 24 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
goimagine, PBC cash in hand is $2,089, as of October 2020. Over the last three months, revenues have averaged $1,300/month, and operational expenses have averaged $5,613/month, for an average burn rate of $4,313 per month. Our intent is to be profitable in 14 months.
Since our company was founded in 2020 there aren't any material changes to disclose. All funding has come from founders to this point.
Revenue for goimagine hopes to exceed $55,000 over the next 6 months with expenses being $104,000. We expect to need a total of $75,000 in capital to reach a break-even point. These projections cannot be guaranteed.
For additional capital, the founders are willing to infuse cash when needed through personal savings and debt.
Our business model makes the assumption that we will have 3,700 seller subscriptions by the end of 2021.
Our marketplace is based off the sales of non-essential items. Given the current economic climate with unemployment and business closures due to COVID-19 we can't guarantee handmade items will be in constant demand in the future.
We rely on Amazon AWS servers to ensure our platform has consistent performance. If something happens out of our control with the Amazon cloud environment we would be at a loss.
A large portion of our revenue comes from seller subscription fees. If sellers do not pay their fees we would not be able to continue operations.
A portion of our business model includes having sellers self-promote their goimagine shops. If sellers choose to drive their own traffic to other platforms it would hinder the growth of goimagine.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
Temporary Rule 201(z)(2) provides temporary relief from certain financial information requirements by allowing issuers to omit the financial statements required by Rule 201(t) in the initial Form C filed with the Commission. This offering has commenced in reliance of Temporary Rule 201(z).
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