|1||950% growth in user base over past 6 months|
|2||Founded by an experienced management team with a history of successful exits|
|3||$20 Billion Total Addressable Market – fastest growing segment in HR tech|
|4||COVID 19 significantly increases the demand for a video based hiring platform|
|5||Users in over 45 states|
|6||Platform for attaining Diversity and Inclusion goals|
|7||Fully developed Software as a Service platform|
|8||Viral market where a single user creates a multiple of additional new users|
I believe in the product and understand the capabilities that Me In 3 can provide to employers and employees, alike. The Me In 3 platform serves to demonstrate the 4 intrinsic values that companies look for when hiring effective employees. These values are not easily demonstrated in a conventional, "paper" resume. They are like-ability, trustability, brand and Image. All of which require a deeper dive into the communication and personal skills sets, necessary to make good hiring decisions.
Marcus Engelke originally came up with the idea for Me in 3 when he was trying to hire a sales representative for his wife’s interior design company. He was looking for someone who had exceptional personality and people skills but he had no way of determining those things based on the resumes being submitted by applicants. He knew there had to be a better way than the antiquated old process of reviewing resumes.
Markus presented the idea of a video screening platform to Tracy, Bryan and Brett. Those 3 had also lived the same frustrations when they were hiring key employees. All 3 of them recalled times they had seen a great resume, invited a candidate in for an interview, and then knew 2 minutes into the interview, it was a waste of time. They also knew that they had likely missed out on a stellar candidate who didn't get an invitation to interview due to a poorly written resume. Often, soft skills are as important, if not more important than the hard skills found on a resume.
The 4 began working on what would become Me in 3.
To round out the team, we wanted to find an expert in the Human Resources field who could help guide the science behind Me in 3. Chris Wright, with a Ph.D. in industrial and organizational psychology and a track record of building software companies, was the perfect fit. Dr. Wright immediately saw value in the project and began offering incredible insight into the product roadmap.
Initial research showed us there were very few companies using video screening in the hiring process so the team set out to design and develop a software as a service platform to solve the problem.
Me in 3 is a video based platform that connects employers with potential candidates. It's a game changer! We make hiring personal again and go beyond a resume. With Me in 3 employers get a glimpse, a real impression, of who their applicants are very early in the process. And, job seekers have a chance to showcase themselves, share their goals, ambition and their personality. Employers save time by selecting better candidates faster and job seekers finally have a chance to stand up and stand out from the crowd.
Hiring Managers can get to know their candidates before they even see a resume.
Job Seekers can Be Seen. Be Heard. Get Hired.
We’ve been able to hit a number of big milestones over the past 6 months and feel that this raise will help us accelerate our growth.
Over the past 6 months we’ve:
In the next 6 months we’re looking to:
Customer feedback has been incredible. We are ready to expand to the rest of the world and that's why we need your help. In order to reach the most customers in the shortest amount of time, we need to raise money to spend on our sales and marketing plans
2020 has provided the world with a number of significant challenges. It's also created an even greater need for the Me in 3 platform. With the COVID 19 pandemic, there are more job seekers looking for jobs, more candidates applying for every job, and a greater need for hiring managers to do more while working remote.
Me in 3 has also created a tool that helps organizations reach their Diversity and Inclusion goals like no other solution on the market. What better way to find diversity in your candidate pool than by seeing and hearing your candidates early in the process?
Check out this short highlight reel from some actual Me in 3 job seekers applying for jobs.
Thank you for your interest and consideration. We hope you will join us in changing the way hiring is done, forever!
Me In 3 has financial statements ending December 31 2019. Our cash in hand is $3,000, as of September 2020. Over the three months prior, revenues averaged $5,000/month, cost of goods sold has averaged $900/month, and operational expenses have averaged $20,000/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.
We hate the way hiring is done today. So, Me in 3 developed an online SaaS platform which allows job seekers to create a video profile to be submitted to potential job creators when applying for a job. Job creators are able to get to know their candidates early in the screening process by viewing a 3 minute (or less) video. Job seekers can tell their story and stand out from the crowd!
In 5 years, we hope to have literally changed the way hiring is done. We hope to have built a massive community of job seekers and job creators, and hope to be generating significant revenue by charging for premium services. We have big plans, and hope to have achieved in Y5 $35MM in EBITDA and $63MM in Revenue. These are future looking projections and are not guaranteed.
3 Minute Management LLC was organized in the State of Oklahoma in April 2018.
Since then, we have:
Historical Results of Operations
Our company was organized in April 2018 and has limited operations upon which prospective investors may base an evaluation of its performance.
Related Party Transaction
Refer to Question 26 of this Form C for disclosure of all related party transactions.
Liquidity & Capital Resources
To-date, the company has been financed with $123,727 in debt and $300,000 in equity.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 6 months before we need to raise further capital.
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 12 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
3 Minute Management LLC cash in hand is $3,000, as of September 2020. Over the last three months, revenues have averaged $5,000/month, cost of goods sold has averaged $900/month, and operational expenses have averaged $20,000/month, for an average burn rate of $15,900 per month. Our intent is to be profitable in 24 months.
Since December 31, 2019, the company has completed and launched its primary product and is generating revenue at an average of $5,000/month. Our expenses are averaging approximately $20,000/month in the near term but we expect those to increase substantially with more marketing spend projected.
We expect revenues to remain low as we build out our freemium membership model. We are projecting an additional $10,000 in revenue through year ending 2020 in total. We are also receiving requests for certain team hiring features which we can begin to charge for earlier than anticipated. Additionally, our Greek Recruitment product is selling at $2,500 - $4,000 per annual license, we have a robust pipeline and expect multiple sales in the coming months. These sales are somewhat seasonal in nature and we expect most sales just ahead of the Fall and Spring collegiate semesters.
The initial production version of the software has been developed and we are generating revenue today. The funding is required to implement our sales and marketing plans to grow our customer base and revenue. Approximately 65% of the money raised will go directly to sales and marketing.
Our current projections are based on our ability to raise ~$1M in total. Based on that assumption, in Q1 2021 we hope to earn revenues of approximately $50K and expenses of approximately $200K. Our projections are based on a heavy investment in sales and marketing to rapidly grow the user base. The greater the user base, the greater the future revenue generation.
Alternative sources of funding include partner funding in the form of notes to the company. Each of the partners is committed to keeping the business moving forward. For the time period during the Wefunder raise, founders will continue to support operations financially as necessary.
Our future success depends on capturing early market share in the software as a service employment screening category. We cannot estimate the nature and extent of future competition in the space and failure to obtain adequate market share could impact earnings.
We have made certain assumptions on the rate at which free product users will be converted to paid subscriptions. Although we have based our assumptions on relevant market research we cannot be assured that future conversion rates will match our model, positive or negative.
Certain states or countries could impose various laws that limit or curtail the opportunity to conduct video introductions such as those provided by MeIn3.com. We cannot predict whether and when this could happen but if it did happen certain markets could be foreclosed with negative impacts on earnings.
Our future success depends upon retention of critical team members. Although we plan to have an incentive program in the future we currently do not provide incentives beyond financial bonuses. The inability to retain key team members could have negative impacts on earnings.
Our future success relies heavily on the use of digital marketing and certain digital marketing platforms. Changes in these platforms or inability to access these platforms could have negative consequences on achieving our sales targets.
Our future success relies on a robust hiring economy. The worldwide COVID-19 pandemic has disrupted certain hiring practices. Our forecast could be inaccurate due to fluctuations in hiring.
The securities the Company is offering are highly speculative and involve a high degree of risk. There can be no guarantee that you will realize a substantial return on your investment, or any return at all, or that you will not lose your entire investment. For this reason, you should read all information provided carefully and should consult with you own legal counsel, accountant(s) or business advisor(s) prior to making any investment decision.
The Company can offer no guarantee that future results will conform to the projections. Our operations are subject to all risks inherent in an early stage business enterprise operating in a competitive market. Our financial projections represent our expectations of future performance based on assumptions, estimates and judgments; however, actual future Company performance may be significantly different and will depend on future conditions and events which cannot be reliably forecast. Accordingly, these projections should be considered solely illustrative and should not be relied upon for the purpose of making investment decisions.
Jim Barsness and Tracy Poole are part-time officers. As such, it is likely that the company will not make the same progress as it would if that were not the case.
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)(2)
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