UPDATED (03/21/2021):

Based on feedback, we'd like to clarify a couple of additional points:

There is an original early bird discount of 8M cap which is still in effect. We are working on the proper updates to documents as there is no interface for this on WeFunder. Every investor will receive the discount they were promised when they invested. No exceptions.

Regarding our new valuation cap of $50M: This does not mean that your investment will be priced at a $50M valuation, or that we are claiming a $50M valuation for the company today. A valuation cap is not a company valuation.

What this means, is that WeFunder investors will have access to a deal that is in extremely high demand right now, at the same price as institutional investors who would need to compete for access to our Series A. If the company is valued at $25M at that time, that is the price you will get, not $50M. The cap is designed to maximize the value of a company that only you, a WeFunder user, currently have exclusive access to.

WeFunder glitches: A few users have reported problems with the website and/or payments. Please understand that The SMART Tire Company does not maintain WeFunder.com and has no control over these issues. You should contact WeFunder support directly, and if you like, you may CC us so we are aware of the problems.

If you have any additional questions, please email us at hello@smarttirecompany.com. We respond personally to every email we receive.

Campaign Progress - Thank you!

What can we say? This has been the most fantastic 4 days we could have hoped for, and we owe it all to YOU, our investors. We couldn't be more joyful and proud writing this update for you. Check out how far we've come in just 4 days:

In just that short time, 575 investors have invested over $400,000 in The SMART Tire Company. Over 1500 people have signed up for our METL tires waiting list, and our visitors hail from 124 countries! Here are just a few places from around the world where SMART Tires are capturing people's imagination:

🇺🇸 United States 🇬🇧 United Kingdom 🇩🇪 Germany 🇧🇷Brazil 🇮🇹 Italy 🇳🇱 The Netherlands 🇮🇳 India 🇨🇳 China 🇦🇺 Australia 🇪🇸 Spain 🇬🇷 Greece 🇿🇦 South Africa 🇨🇦 Canada 🇦🇪 United Arab Emirates 🇮🇩 Indonesia ... and over 100 more!

You have written to us about road bikes, mountain bikes, wheelchairs, quad bikes, cargo bikes, cars, just to name a few! We've heard from investors who are putting in money in their children's names. We are honored. I'm practically in tears.

Press

Our press coverage has been outstanding so far, and is just ramping up. So far The SMART Tire Company has been seen on TechCrunch, Gizmodo, Mashable, The Daily Mail, Fast Company, Interesting Engineering, Design Boom, Bike Rumor, Bike Radar... and too many more to list. You can expect print & television coverage, and many more stories to keep coming in. Be on the look out for more of The SMART Tire Company in the news!

Important Investor Updates

Starting today, we are extending the maximum WeFunder raise from $1m to $5m, due to overwhelming interest. Our goal? 5,000 ordinary Americans (and some international friends) investing in the future of the tire industry, Made in the USA. Here are the details:

• The maximum WeFunder raise is increasing from $1M to $5M
• All existing investors, and new investors up to the first $500k, will have a valuation cap of $10M, the current deal
  
• All investors after $500k will have a new, extended cap of $50M

Questions? Please drop us a message at invest@smarttirecompany.com, or check out the WeFunder FAQ for more information about early bird terms, SAFE notes and valuation caps.

And... next week will be even better.

Cheers,

The SMART Tire Company