# Licensed to Glow

Reinventing How Millions of Women Pay for Beauty Services

- Canonical URL: https://wefunder.com/licensed.to.glow
- Entity ID: wefunder:company:219750
- Last updated: 2026-11-09T23:50:41Z
- Generated at: 2026-11-10T00:54:29Z

## Quick facts
- $300 for FREE 1 month Bronze
- $400 for FREE 1 month Silver
- $500 for FREE 1 month Gold
- $600 for FREE 1 month Platinum
- $800 for FREE 1 month Diamond
- $2,000 for FREE 1 year Bronze or 6 month Silver
- $5,000 for FREE 1 year Gold, or 6 month Diamond
- $50,000 for FREE 10 year Diamond

## Active fundraises
- wefunder:fundraise:176398: 4(a)(6) successful (USD)
- wefunder:fundraise:176397: 4(a)(6) open (USD)

## Story
Licensed to Glow Investment Memo:A. Introduction & OpportunityThe Future of Beauty is Subscription-Based.We founded Licensed to Glow (LTG) to transform the $93B U.S. salon services industry by creating a subscription-powered marketplace that connects consumers with premium beauty salons while providing salons with predictable, recurring revenue. By leveraging proprietary technology, LTG creates a win-win solution for both beauty professionals and consumers, optimizing salon utilization rates and making high-quality beauty services more accessible and affordableStrong Team with History of SuccessThe LTG team combines deep industry experience with proven execution capabilities:● Odette Yang, Co-Founder and CEO: Previously, first hire at Confido (YC), where she scaled the business to $1.5M ARR in 11 months. Tech investor at Radian Capital ($1bn aum VC fund) and was an investment banker with Goldman Sachs and Evercore. BS in Economics from the University of Pennsylvania, Wharton School of Business.● Dylan Le, Co-Founder and CTO: Previously, software engineer at Google, Citadel, and Meta. Ex-founder of an ecommerce app serving 150+ brands, managing 600K SKUs. Founder of Tenten, a top NYC Vietnamese restaurant. B.S. in CS, University of Rochester.The Industry Problem & Deadweight Loss in Beauty Services● Underutilized Capacity: The average salon operates at only 40-50% capacity, leaving valuable appointment slots unfilled, and difficulty staffing efficiently. The majority of salons are owner operated - and they struggle to market, manage staff and bring in traffic.● No Scalable Pricing Logic: When we spoke with salon owners about their pricing structures, we received no substantive justification beyond “this is just how it’s always been.”● Fragmentation & Information Asymmetry: With no large-scale player providing centralized data, salons lacked visibility into industry-wide consumer demand trends, which prevented optimal pricing and utilization strategies.● Existing Marketplace Solutions are Broken: Platforms like Groupon pay out pennies for every dollar of appointment value, making it highly unprofitable for salons to list on existing marketplacesThe LTG Thesis: Solving Deadweight Loss with Subscription PricingOur technology automates salon scheduling, customer acquisition, and data-driven service allocation to ensure optimized usage, greater efficiency and retention. The result is a seamless, high-frequency transactional ecosystem that makes beauty services more accessible while creating stable, high-margin revenue for salons.We have now built and launched the LTG marketplace, where salons seamlessly onboard, customers book recurring beauty services, and transactions flow frictionlessly.B. Early Validation & Market TractionFollowing the successful proof-of-concept, LTG quickly scaled beyond a single salon:● $220K in MRR achieved in Year 1● Expansion to 600 salons in major cities across the US, proving repeatability and scalability. LTG is already driving revenue for salons from Day 1, ensuring vendor retention.C. Salon Feedback & Market GapsWe’ve spoken with dozens of salons, and the feedback is unanimous: existing solutions don’t work for them.Groupon: "It brings in discount-seekers who never return. We lose money on every deal."ClassPass: "Customers aren’t loyal. They book once, and then we never see them again."Vagaro/Fresha: "It’s just a booking tool. It doesn’t actually bring in new customers."LTG flips the script—offering salons consistent, loyal customers and recurring revenue.D. Business Model & MonetizationLTG generates revenues from a take-rate off consumer subscription revenue.● $99 - $560/month plans tailored to consumer needs.● Capped usage per month based on predictable service frequency (e.g., haircuts every6-8 weeks, nails biweekly).● 20% average take rate on all subscription revenueLTG is the only platform combining marketplace dynamics + operational SaaS to create a defensible, sticky business.E. Market Opportunity & Scaling PotentialTotal Addressable Market (TAM)● Scope: Women aged 18–65 in the U.S. who regularly use beauty services.● Size: 60% of 63 million women = 37.8M women.● Annual Spend per Person: $1,800.● Market Value: $68B per year. Serviceable Addressable Market (SAM)● Scope: Women aged 18–65 in New York City who regularly use beauty services.● Size: 60% of 4.2M women = 2.52M women.● Annual Spend per Person: $1,800.● Market Value: $4.5B per year.Serviceable Obtainable Market (SOM)● Scope: Early adopters (~10% of the SAM), targeting tech-savvy, convenience-driven women in NYC.● Size: 252,000 women.● Annual Spend per Person: $1,800.● Market Value: $454M per year.LTG’s marketplace model is designed for nationwide expansion.F. Growth Strategy & Multi-Billion Dollar VisionLTG is not just a beauty subscription platform—it’s a category-defining technology company with multiple future revenue streams:Phase 1: Subscription Marketplace (2025-2027)● Expand to 1000+ salons nationwide● Optimize data-driven salon demand management.Phase 2: Retail Media & Data Monetization (2026-2030)● Leverage first-party customer data to launch a high-margin retail media platform.● Monetize product recommendations & brand sponsorships within the LTG ecosystem.● Today: Early conversations with mid-sized beauty brands for sponsored ad placement inLTGPhase 3: B2B Marketplace & SaaS Expansion (2025-2027)● Launch B2B marketplace for salon supplies & beauty brands, creating an end-to-end commerce ecosystem.● Develop premium SaaS tools for salons, increasing platform stickiness.LTG evolves from a booking platform → into an industry-wide operating system → into the dominant tech platform for beauty.

## FAQ
1. **Could you please clarify why I’m unable to access the 2026 financial statements, specifically the Profit and Loss (P&L) report?**
   - It's in the details section of the wefunder page :)
2. **I noticed that the financial details provided only cover the year 2025. Could you please clarify the company's performance in 2026 so far? Specifically, what has been the growth in 2026, and what is the projected revenue for the full year? Alternatively, has the company not be...**
   - Our fiscal year ends in December so we don't have the full audited 2026 financials ready yet (as it's not December yet). the budget attached has summary monthly to date financials that have not been audited / submitted for taxes yet for 2026
3. **Odette, before the public buys a piece of the glow, could you put the following numbers in one place? The campaign is asking investors to accept a $20 million SAFE cap. A little precision seems reasonable. 1. “Join 100k+ members.” How many of them currently pay you? That is th...**
   - We are cash flow breakeven currently so nothing happens if we don't close or don't raise a Series A, it's business per usual. If we do want to close the round and take in dilution we would invest in growth and expansion into new locations/ new cities and consumer marketing. IE. there's no imminent "death" of the business if we don't raise. I can't disclose contracts we're currently under NDA with. This is our tracking metrics which would answer most of your questons: https://uplifted-kedge.me...

## Team
- Odette Yang (founder)

## Q&A
- Q: Thanks. Three points still need a direct answer. 1. How many of the 100,000 monthly active users actually purchased something? When you say “most users are à la carte,” do you mean most of your paying customers choose individual bookings, or that most of the 100,000 monthly active users completed an à-la-carte purchase during that month? Those imply very different economics. For illustration, 100,000 people making one $45 purchase would generate $4.5 million in monthly booking value. Even half would generate $2.25 million. I am not assuming $45 is your actual average ticket; please provide the actual figures. For the latest completed month, could you disclose: * The activity that qualifies someone as MAU. * Unique customers who completed a paid purchase. * Active paying subscribers. * Completed paid bookings and average booking value. * Total booking value and retained platform revenue. Please distinguish the full user base from users in your target cities, and point to the relevant dashboard figures if they already contain this information. The payment options are clear. The paying-customer count is still missing. 2. What does subscription uptake tell you about the offer? What percentage of revenue and gross profit comes from subscriptions versus à-la-carte purchases? Among repeat à-la-carte customers whose purchases would have been cheaper under an eligible subscription during the same period, what percentage converts? What have you learned about why the others do not? That would help investors understand how customers value the subscription and how each part of the business contributes financially. 3. Are any existing institutional investors committing additional capital—yes or no? Please identify the aggregate amount committed and funded by existing institutional investors in this offering or a concurrent financing. If none have committed, were they offered the opportunity, and what reasons have they communicated that you can share? Your statement that the business is breakeven is helpful. The outstanding question is whether the investors already familiar with the business are participating in this financing. Please answer the participation question directly, including a zero commitment if that is the current position.
- Q: Thank you for explaining the increases in the February–May 2025 pre-seed round. My question concerns institutional support for the current financing. Since the May 2025 closing, have Colle Capital or Comma Capital committed any additional capital? Please distinguish new commitments from amounts already committed as part of the original round. What concrete role is Colle, as the original lead investor, currently playing in the Series A process—for example, investor introductions, diligence or reference calls, or a conditional commitment to participate? If there is no current follow-on commitment, have the existing investors declined, are they still evaluating, or are they waiting for an external lead or particular milestones? Please clarify any conditions you can disclose. Without identifying confidential counterparties, what stage has the Series A process reached, and what recurring feedback or milestones have prospective institutional investors raised? Your answer establishes that existing investors increased their investment in 2025. The outstanding question is what support they are providing today, on the current terms and with access to the current operating results.
- Q: 9. Ten years of Diamond: what does that promise cost? Your promotion offers one year of Gold for a $5,000 investment and ten years of Diamond for a $50,000 investment. Please disclose the expected provider payments and other servicing costs for each perk, the usage assumptions, and what happens if provider prices or customer usage increase. How much of each investment remains available for the business after offering expenses and the expected cost of fulfilling those benefits? What restrictions or rights to change or cancel the perks apply? “Free” is the investor’s price. What is the company’s cost? The salon still needs to get paid. The promotion also says memberships start when the round closes in December, while the SEC filing lists an April 30, 2027 deadline. Is December an intended early or rolling close, and exactly when do the benefits become effective? 10. Who is providing board oversight? Who currently serves as a director or board observer? How are the cofounders and institutional investors represented? Has that changed since the 2025 financing? Does Colle Capital currently have a director or observer seat? If any investor representation has ended, when and why? Who reviewed and approved the financing terms, financial projections and expected cost of the ten-year membership offer? Please answer each numbered question with the relevant figures, dates and definitions. If a figure is unavailable, please identify it and give a date for providing it. 11. Why did legal fees reach $171,650 in 2025? Your 2025 P&L reports $171,650.08 in legal fees, representing approximately 22% of the company’s $779,932.52 in operating expenses. That is a substantial share of the operating budget. What drove it? Please provide a high-level breakdown between corporate and fundraising work, commercial or regulatory matters, litigation or disputes, and any other material categories. How much was a one-time expense, how much has continued into 2026, and were any amounts covered by insurance or reimbursed? What legal costs and potential obligations are included in the current cash forecast? What oversight and budget controls apply to that spending? The legal budget clearly had a busy year. Before the public finances the next one, how much of this new raise is expected to go to lawyers? Please give the budgeted amount. 12. How much of your working week does LTG actually get? Please clarify the other founder roles listed on your LinkedIn. Which represent active operating businesses, and which are historical projects or passive interests? Are you working full time and exclusively on LTG? If not, what percentage of your professional time goes to LTG and to each other venture? What time commitment have you agreed to under your employment or founder arrangements? Have these outside commitments been disclosed to the board and existing investors? What approvals were required, which were obtained, and what conditions apply? Please also explain the financial separation between these businesses: * Do they share employees, contractors, technology, office costs or other resources? If so, how are costs allocated and reimbursed? * Has LTG made any payments, loans or investments to another business you own or control? If so, please disclose the amounts, purposes and approval process. * Will any proceeds from this offering fund payments or transfers to those businesses? If so, how much, for what purpose, and on what commercial terms? * Who independently reviews those arrangements and ensures LTG receives fair value? What is the business case for maintaining these outside commitments while LTG is raising capital and preparing for a Series A? The fundraising is for LTG. How much of your working week is? 13. What exactly is the relationship between Licensed to Glow, BeautyRightBack Corp. and the investment vehicle? Your website identifies BeautyRightBack Corp. as doing business as Licensed to Glow. The SEC filing names Beauty Right Back Corp. as the issuer and Licensed to Glow I, a series of Wefunder SPV, LLC, as a co-issuer. Why was the BeautyRightBack legal name retained after adopting the Licensed to Glow brand? Please provide a clear explanation of the corporate structure. Which entity owns the LTG brand, software, intellectual property and customer and provider contracts? Does BeautyRightBack operate any business other than LTG? Are investors purchasing the company’s SAFE directly or investing through the Wefunder vehicle? Which entity would their eventual equity relate to, and what voting and information rights would they receive? What material debts, contractual obligations or unresolved claims sit in the operating company, including any that predate the LTG branding? Please show the complete path: where investors’ money goes, which company owns the business, and what rights investors receive. At a $20 million cap, clarity should be included.
- Q: Odette, before the public buys a piece of the glow, could you put the following numbers in one place? The campaign is asking investors to accept a $20 million SAFE cap. A little precision seems reasonable. 1. “Join 100k+ members.” How many of them currently pay you? That is the claim in your Instagram bio. Please define “member” and break the total into current paying subscribers, complimentary memberships, free registrations and former customers. The subscriber schedule I reviewed reports 687 subscribers at December 31, 2025. What was the active paying count at October 31, 2026, and what is the latest available November figure? Please provide the monthly paying-subscriber counts between those dates. Please make the paying-customer number as easy to find as the 100,000-member headline. 2. Could you walk investors through the $1 million net ARR calculation? Your deck presents $2.4 million gross ARR and $1 million net ARR, while the business model describes an average 20% take rate. Applied to the same revenue base, 20% of $2.4 million is $480,000. Retaining $1 million from $2.4 million implies approximately 41.7%. If these figures use different dates, definitions or revenue streams, please identify them and show the reconciliation. What are gross subscription revenue, refunds, provider payments and retained revenue for the month being annualized? The calculator gets to $480,000 under the stated 20% assumption. What specifically gets the company to $1 million? 3. Six hundred locations in the bio, seven hundred in the promotion—how many are actually serving customers? Please give the current number of contracted, bookable and actively used locations, with a reporting date. How many completed at least one customer appointment in the past 90 days? How many completed none? What are monthly completed bookings and paying subscribers per city, particularly in the original launch market? The location list is getting longer. What is happening to bookings and revenue per location? 4. What return has the previous capital produced, and what justifies further expansion? Following the approximately $1.7 million raised in 2025, how much went into customer acquisition, product, staffing, operations and geographic expansion? What are customer acquisition cost, retention and contribution profit in the original market today? Which cities cover their direct operating and acquisition costs? What measurable result must an existing city achieve before you spend money opening another one? More cities is a strategy. Please show the economics that make it a good one. 5. What is behind the retention and 9× LTV/CAC claims? Your deck advertises approximately 75% monthly customer retention and 9× LTV/CAC. Does 75% monthly retention mean roughly one-quarter of existing paying subscribers stop paying the following month? If that is not the definition, what is? Please show retention by acquisition cohort at one, three and six months, and the calculation behind 9× LTV/CAC. Does lifetime value deduct provider payments, refunds and variable servicing costs? Does acquisition cost include creators, agencies, paid advertising and promotional memberships? “9×” is an attractive headline. Please publish the numerator, denominator and assumptions. 6. What is the cash position now, and what does this raise actually buy? Please provide unrestricted cash, outstanding provider payments and other near-term obligations as of October 31, 2026, together with monthly net cash burn for the preceding three months. Your filing sets a $10,000 minimum target and a $124,000 maximum. After the disclosed 7.9% platform fee, the maximum leaves approximately $114,204, before other offering expenses and the cost of the membership perks. How many months of additional runway does that provide? What milestone does it fund? How much further financing will still be needed? Please show the cash forecast with the next fundraising round set to zero. What does that version look like? 7. Which existing investors are writing a new check? Colle Capital, Behind Genius Ventures and Comma Capital are named in the campaign. Which existing investors have committed new capital to this offering or a concurrent financing, and how much has actually been funded? If none are participating, were they offered the opportunity, and what explanation have they provided? Please separate historical investment, verbal support, signed commitments and funds received. The logos tell us who invested before. The question is who is investing now. 8. Where does the Series A actually stand? Have you secured a lead investor or signed a term sheet? What operating milestones remain before an institutional round can close? How much of this community financing will fund expansion, and how much will extend runway while you seek the next round? If the Series A has not closed in six months, what funds month seven? What spending changes would you make, and when? What current operating results support the $20 million SAFE cap?
  - A: We are cash flow breakeven currently so nothing happens if we don't close or don't raise a Series A, it's business per usual. If we do want to close the round and take in dilution we would invest in growth and expansion into new locations/ new cities and consumer marketing. IE. there's no imminent "death" of the business if we don't raise. I can't disclose contracts we're currently under NDA with. This is our tracking metrics which would answer most of your questons: https://uplifted-kedge.metabaseapp.com/dashboard/34-performance Some months we have higher Net vs Gross ARR based on cash vs accrual accounting. IE, some months we have higher gift card purchases, upfront 3/6 month purchases which push the cash ARR higher than the 20% take We currently have 100k active MAU, and 60k MAU in target cities. Most users are a la carte, meaning they purchase one off services at discounted rates, not committing to a monthly membership.
- Q: I noticed that the financial details provided only cover the year 2025. Could you please clarify the company's performance in 2026 so far? Specifically, what has been the growth in 2026, and what is the projected revenue for the full year? Alternatively, has the company not been actively operating in 2026? It would be helpful to clarify this, as I believe any potential investor reviewing the opportunity would have the same questions and would want to understand the company's current financial position and growth trajectory.
  - A: Our fiscal year ends in December so we don't have the full audited 2026 financials ready yet (as it's not December yet). the budget attached has summary monthly to date financials that have not been audited / submitted for taxes yet for 2026
- Q: Could you please clarify why I’m unable to access the 2026 financial statements, specifically the Profit and Loss (P&L) report?
  - A: It's in the details section of the wefunder page :)