ChargeItSpot solves two pressing and widespread problems:
1) Consumers are constantly faced with the anxiety of dying phone batteries.
2) Brick-and-mortar businesses are actively searching for ways to bring new customers in, keep them shopping for longer, and bring them back more often.
ChargeItSpot provides interactive, lock-away mobile phone charging stations in retail stores around the country. It drives new customers into the store and encourages shoppers to spend more time and money in-store while they wait for their phones to charge; retail sales lift is substantial and has been empirically proven by Gfk, the fourth-largest research firm in the world.
Our mobile app alerts users when their battery is low, suggesting nearby ChargeItSpot stations and accompanying deals/promotions at those nearby retailers. ChargeItSpot has a proprietary method to prompt consumers to download our mobile app after they use our charging station (patent filed). ChargeItSpot is free for consumers and charges retail clients a monthly fee.
Growing up at the dinner table with a father who was a repeat, bootstrap (and eventually IPO) entrepreneur, I have had always had a passion for starting and growing companies. Coming out of college, I went to work for a venture-backed CEO/Founder as her Chief of Staff, learning firsthand about everything it takes to succeed in that role. I rose within the company to run our Asia-Pacific division out of Beijing and also, as an enterprise sales executive in Europe out of London where I closed record deals.
I went back to school in 2010 to get my MBA at Wharton. After having spent my summer internship at Amazon, I quickly realized I needed to get back to my roots in entrepreneurship if I wanted to make impact in a really meaningful way that would excite me.
I stumbled onto the idea of ChargeItSpot when I was with three MBA classmates on a trip. We all had dying phone batteries and were going to split up and reunite later on in the day. Alas - how would we reconnect? In a moment of frustration, I exclaimed: "why can't I walk in THERE and charge my phone?!" I was pointing at an Urban Outfitters. I began to realize that retailers could draw customers into stores and keep them there longer if they were to offer them free and secure phone charging in their stores. I leveraged the remainder of my second year in the MBA to conduct research and build a business plan. I graduated in May 2012 with my MBA and in August 2012, our first unit went live in the market at a Whole Foods in the Philadelphia area.
Learn more about my ethos - two things that jump to mind:
- My graduation speech from Emory (undergrad): https://www.youtube.com/watch?v=-wHQeqHaviI
- A recent Op Ed I did for INC.: http://www.inc.com/young-entrepreneur-council/6-crucial-tips-for-building-a-winning-startup-team.html
Frequently Asked Questions
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by ChargeItSpot. Once ChargeItSpot accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to ChargeItSpot in exchange for your shares. At that point, you will be a proud owner in ChargeItSpot.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or government-issued identification
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your shares have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page.
Currently there is no market or liquidity for these shares. Right now ChargeItSpot does not plan to list these shares on a national exchange or another secondary market. At some point ChargeItSpot may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when ChargeItSpot either lists their shares on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is ChargeItSpot's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.
This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in ChargeItSpot’s profile.