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Letz is offering securities under both Regulation D and Regulation CF through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 7.50% of the value of the securities sold and equity compensation equal to 5.00% of the number of securities sold. Investments made under both Regulation D and Regulation CF involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Furthermore, the contents of the Highlights, Term Sheet sections have been prepared by SI Securities and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by Letz without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Investors should review the risks and disclosures. The contents below are meant to be a summary of the information found in the company’s Form C. Before making an investment decision, investors should review the company’s Form C for a complete description of its business and offering information, a copy of which may be found both here and below.

Monthly Active Users

8,000+

Messages through platform

6+ Million

  • Winner of Product Hunt's "Bot of the Year" 2016 Award
  • Over 40,000 app downloads with a 4.6 rating on the Google Play Store
  • Alumnus of the Rockstart Accelerator
  • Pre-seed investment by South Central Ventures
  • Advisors include Christoph Auer-Welsbach, a partner at IBM Ventures and co-founder of City.AI
  • Amount raised:  
  • Close date:  
  • Indicated Interest:  
  • Raise Description:  Seed
  • Minimum Investment:  US $500 per investor
  • Security Type:  Preferred Equity
  • Pre-Money Valuation:  US $3,800,000
  • Offering Type:   Side by Side Offering

Letz offers an AI-powered solution to one of the biggest problems facing today's individuals, freelancers, consultants, and small businesses - productivity!


Today's busy lifestyle makes it difficult to stay productive. In order to get through the mountain of tasks most of us face on a daily basis, we juggle different productivity tools. Users end up constantly switching between these tools, unable to stick to a single one for a long period of time. We found out the reason behind this phenomenon... and that is...

People fail at being productive, because it requires a lot of self-discipline.

So we approached the problem a little differently. Instead of talking about features, we thought about guidance, assistance, and experience.

That's why we created Letz - an ACTIVE personal productivity assistant.

Letz provides you with an Artificially Intelligent virtual friend that is committed to transforming you into a more productive person.

Instead of passively waiting for your requests, your Letz assistant will actively engage you throughout the day. Persistently reaching out with all of the little details so that you don't miss any of the important things in your busy calendar!

Looking forward, we are going to focus on creating the ultimate AI solution for digital nomads – freelancers, consultants, small business owners. We call it AI for Individual Business Productivity.

Pitch Deck

Product & Service

Letz has developed an award-winning app that is a personal assistant for people who work for themselves (contractors, freelancers, entrepreneurs) and need to manage their time.

To bridge the emotional gap between the user and the AI, we built Letz in the form of a chatbot that has a character, emotions, and sense of humor - Lucy.

Lucy is a friendly and effective personal assistant who chats with you by text throughout the day. In the morning, Lucy starts your day with a friendly greeting and check-in with your agenda, emphasizing the most important tasks of the day. As you respond to your priorities, those are integrated according to your needs and during the day, Lucy reminds you of each task. If you’re bored, she tells you a joke, and when it’s time to leave for your next appointment, she pings to let you know. At the end of the day, you get a recap, and over time you can see your productivity reports.

Additionally, your assistant learns more about you with time. As we integrate additional professional services, Lucy will be able to tell you about jobs that you might want to apply for on outsourcing sites, help you follow up with people you met at a networking event, and suggest relevant content you should know about for your professional education. As the technology advances, she’ll be able to assess your pay-per-click analytics and even run campaigns for you. 

All of this adds up to the experience of chatting with a caring assistant that helps you become a better, more productive version of yourself.

The roadmap includes integrating services such as outsourcing sites, email marketing, time management, and other business prioritization apps.


The Future of AI

An increasing number of people are making a living as freelancers, contractors, and independent business people, and need a “personal assistant” to help them with tasks such as scheduling, meeting deadlines, managing online campaigns, applying for new business opportunities, etc. Letz will provide the intelligence to automate many of these tasks, allowing these independent workers to dramatically increase their productivity and decision-making when it comes to their businesses.

The next generation of AI will look something like this:

You simply schedule a meeting in London and your smart AI interface will make all of the arrangements for you: flights, car, hotels, etc. This will happen through a set of smart Service Areas adopted by Apple (Siri), Google (Assistant), and Amazon (Alexa), who will own those interfaces.

Soon Letz will provide end-to-end assistance to optimize the work life of individual workers like freelancers, consultants, and small business owners. In the near future, you will be able to say to Letz something like “Deliver my time-sheets to my clients for the week, and show me the five most promising leads that I can fit in my calendar”. The Letz AI would be able to understand and handle the complex request and automatically take multiple actions in order to complete it. In this case: first, it would deliver the timesheets for all different projects/clients of the freelancer; second, check out the user’s calendar for free working hour slots; and third, search its favorite freelancing sites for gigs/jobs that would be a good fit (knowledge of his skills, client/project preference, working timeslots, etc.) and show him the top five. 

Letz provides a solution in the service area we call Individual Business Productivity, which helps individuals make decisions about how to maximize their work time. The Service Areas are emerging as we speak, and our company is focused on this specific area of AI.

Media Mentions

Team Story

Our team has worked together for over 6 years, delivering more than 90 successful projects for big companies like Sony Music, Holland Casino, T-Mobile, etc.

Our success in the AI space is exemplified by our app, which has been out for a year and enjoys continued daily use by thousands of users. We aren’t just thinking about developing artificial intelligence: we have repeatedly and consistently proven our ability to deliver.

Our team has a deep knowledge and experience in algorithms and artificial intelligence - the logic behind Letz is a result of lengthy hard work and years of experience in the field. The complete technology deck and AI modules are proprietarily built in-house from scratch.

Aside from the technological know-how, we possess hands-on experience in the personal productivity market, having developed another app in this space. We’ve also proven our marketing capabilities, with over 40,000 downloads and a Product Hunt prize for our launch.

Founders and Officers

Nino Karas

CEO / Co-Founder

Nino is an Entrepreneur, Hustler, IT Visionary and All-Perspective Perfectionist.  

Boston University featured Alumni.

Successfully built up CodeWell, a profitable software consultancy with offices in Skopje. Created and sold multiple software products as spin-offs from CodeWell.

BS in Computer Science, Boston University.


Martin Ancevski

CTO / Co-Founder

Intellectually curious and a problem solver at his core. Expert in Artificial Intelligence, algorithms and software architecture. 
Having partnered with Nino over the past 6 years on CodeWell, Letz, and other software projects, Martin brings his strategic technology thinking to the team. 

Computer Science, Univerzitet 'Sv. Kiril I Metódij.

Nino Karas

CEO / Co-Founder

Nino is an Entrepreneur, Hustler, IT Visionary and All-Perspective Perfectionist.  

Boston University featured Alumni.

Successfully built up CodeWell, a profitable software consultancy with offices in Skopje. Created and sold multiple software products as spin-offs from CodeWell.

BS in Computer Science, Boston University.


Martin Ancevski

CTO / Co-Founder

Intellectually curious and a problem solver at his core. Expert in Artificial Intelligence, algorithms and software architecture. 
Having partnered with Nino over the past 6 years on CodeWell, Letz, and other software projects, Martin brings his strategic technology thinking to the team. 

Computer Science, Univerzitet 'Sv. Kiril I Metódij.

Key Team Members

Hristijan Veselinoski

Android Developer

Ivana Karalieva

CMO

Angel Davcev

Head of Design & UX

Viktor Lukovic

Lead Android Developer

Viktorija Ancevska

Lead iOS Developer

Simona Andrieska

R&D Engineer

Valentin Ambaroski

R&D Engineer

Vidak Mijanovic

iOS Developer

Lence Petkovska

Web Developer

Spasija Filipova

HR & Administration

Marija Nikolova

Content Writer

Notable Advisors & Investors

South Central Ventures

Investor, SCV is a €40 million Fund, dedicated to investments in startups & SMEs

Rockstart Accelerator

Investor, One of the top rated European startup accelerators from Amsterdam, Netherlands

Christoph Auer-Welsbach

Advisor, Partner at IBM Ventures | co-founder City.AI

Rebecca (Grace) Rachmany

Advisor, Marketing and BizDev Consultant

Q&A with the Founder

  • Please detail the tech behind your AI platform and what you see as your “special sauce.”
    From the moment we started developing Letz we agreed upon building the full stack into standalone smart modules, that will work and function independently and communicate between of each other. Having the ability to proprietarily build the full tech stack in-house from scratch (without using any 3rd party frameworks or SDKs) allowed us to achieve this kind of architecture without making tradeoffs with the performance of the system. Additionally, in the past couple of months, the Letz team started working on a new AI module that will bring the Letz conversational experience on a new level. This module is using the latest paradigm in AI and is based on sequence 2 sequence models leveraging Recurrent Neural networks and Tensorflow. As of the moment, the module is in finishing stage of development, so far providing excellent results. When the module is completed and released in production it will provide an AI experience that is on an x10 levels above what current competitors are providing.
  • Please describe your monetization strategy.
    We are developing artificial intelligence that will be essential to the full ecosystem that Amazon, Apple, and Google are moving towards with their in-home devices, as well as with existing mobile devices. Ultimately, people will have just one interface with their devices, either through voice or text, just as we communicate with people. Through that one platform, people will want to accomplish everything. Therefore, our strategy is to be either purchased by one of the large players or to license out our technology to the players as a service they can provide on their platform. It’s not yet clear whether the app model will prevail, but it seems unlikely. Services such as Letz Individual Business Productivity will be fully integrated into these in-home devices and mobile device AI.
  • Please detail your MAU, downloads, key metrics, etc.
    Letz was officially launched in October 2016 on Product Hunt and we have many users since day one, who helped us prove our concept. Letz is available on both iOS and Android platforms and is currently offered for free. With almost no marketing budget, we managed to deliver Letz in front of 40,000+ people. From that moment on, the activation factor is constantly growing. There are more than 8,000 monthly active users who created more than 180,000 tasks and exchanged more than 6 Million messages. Having almost no marketing budget helped us keep our creativity level high and prove the concept we approached. This challenge directed us to one successful step when Letz was nominated for a product of the year competition by Product Hunt. After the tight race with big names like Duolingo Bot, Google Analytics bot for Slack and Nerdify bot, Letz WON the first ever Golden Kitty in the bot of the year category. This was the biggest confirmation for the Letz team and encouraged us to continue helping people get better in the productivity space
  • What are your exit opportunities?
    Ultimately the artificial intelligence underlying the Letz app is targeted at Google, Apple and Amazon. These three companies are deploying in-home voice-activated systems and two of them command almost the entire mobile phone market. These companies are looking to dominate the interaction between humans and computers, but the differentiating factor will be the services they can provide. Currently, they provide very limited entertainment and shopping capabilities, as well as some navigation capabilities on the phone. Letz is designed to become the artificial intelligence that can be added to such systems in order to provide an offering from those companies to the public in the area of individual business productivity.
  • The Q&A with the Founder is based on due diligence activities conducted by SI Securities, LLC. The verbal and/or written responses transcribed above may have been modified to address grammatical, typographical, or factual errors, or by special request of the company to protect confidential information.

    Side by Side Term Sheet

    A Side by Side offering refers to a deal that is raising capital under two offering types. If you plan on investing less than US $20,000.00, you will automatically invest under the Regulation CF offering type. If you invest more than US $20,000.00, you must be an accredited investor and invest under the Regulation D offering type.


    Terms & DescriptionRegulation D - Rule 506(c)Regulation CF
    Investor TypesAccredited OnlyAccredited and Non-accredited
    Round descriptionSeedSeed
    Round sizeUS $1,000,000US $1,000,000
    Amount raisedUS $0US $10,551
    Minimum investment$20,000US $500
    Target minimumUS $500,000US $500,000
    Closing ConditionsThe Company is making concurrent offerings under both Regulation CF and Regulation D (the "Combined Offerings"). Unless the Company raises at least the Target Amount of $25,000 under the Regulation CF offering and a total of $200,000 under the Combined Offerings (the “Closing Amount”) by the offering end date no securities will be sold in this offering, investment commitments will be cancelled, and committed funds will be returned.The Company is making concurrent offerings under both Regulation CF and Regulation D (the "Combined Offerings"). Unless the Company raises at least the Target Amount of $25,000 under the Regulation CF offering and a total of $200,000 under the Combined Offerings (the “Closing Amount”) by the offering end date no securities will be sold in this offering, investment commitments will be cancelled, and committed funds will be returned.
    Investment Management AgreementAll non-Major Purchasers will be subject to an Investment Management Agreement (“IMA”). The IMA will authorize an investment Manager to act as representative for each non-Major Purchaser and take certain actions for their benefit and on their behalf. Please see a copy of the IMA included with Company's offering materials for additional details.All non-Major Purchasers will be subject to an Investment Management Agreement (“IMA”). The IMA will authorize an investment Manager to act as representative for each non-Major Purchaser and take certain actions for their benefit and on their behalf. Please see a copy of the IMA included with Company's offering materials for additional details.

    Prior Rounds

    The graph below illustrates the valuation cap or the pre-money valuation of Letz's prior rounds by year.


    This chart does not represent guarantees of future valuation growth and/or declines.

    Pre-Seed

  • Round Size
    US $117,000
  • Close Date
    Aug 14, 2016
  • Security Type
    Common Equity
  • Pre-money Valuation
    US $874,968
  • Financial Discussion

    Please see the financial information listed on the cover page of the Form C and attached to this profile in addition to the following information. Financial statements are attached to the Form C as Exhibit B.

    Operations

    The Company has experienced recurring losses from operations since inception and will be required to obtain additional funding or alternative means of financial support, or both, prior to January 1, 2018, in order to continue as a going concern. As shown in the accompanying financial statements, the Company incurred net losses of $33,533 for the twelve month periods ended December 31, 2016, and has an accumulated deficit of $33,533 as of December 31, 2016. Additionally, the Company incurred negative cash flows from operations of $34,821 for the twelve month periods ended December 31, 2016.

    On August 29, 2017, the Company incorporated as a Delaware C Corporation. The Company’s Dutch operations, MarkO TSB B.V. (as well as its Macedonian subsidiary, Letz DOOEL Skopje), will become a wholly-owned subsidiary of Letz, Inc. only upon a successful raise with SeedInvest.

    Liquidity and Capital Resources

    The Offering proceeds are essential to our operations. We plan to use the proceeds as set forth above under "use of proceeds", which is an indispensable element of our business strategy. The Offering proceeds will have a beneficial effect on our liquidity, as we currently have $55,858 in cash on hand as of December 31, 2016 which will be augmented by the Offering proceeds and used to execute our business strategy.

    The Company does not have any additional sources of capital other than the proceeds from the Offering.

    Capital Expenditures and Other Obligations

    The Company does not intend to make any material capital expenditures in the future.

    Material Changes and Other Information Trends and Uncertainties

    After reviewing the above discussion of the steps the Company intends to take, potential Purchasers should consider whether achievement of each step within the estimated time frame is realistic in their judgment. Potential Purchasers should also assess the consequences to the Company of any delays in taking these steps and whether the Company will need additional financing to accomplish them.

    The financial statements are an important part of this Form C and should be reviewed in their entirety. The financial statements of the Company are attached hereto as Exhibit A.

    Valuation

    Based on the Offering price of the Securities, the pre-Offering value ascribed to the Company is $3,800,000.

    Before making an investment decision, you should carefully consider this valuation and the factors used to reach such valuation. Such valuation may not be accurate and you are encouraged to determine your own independent value of the Company prior to investing.

    As discussed in "Dilution" below, the valuation will determine the amount by which the investor’s stake is diluted immediately upon investment. An early-stage company typically sells its shares (or grants options over its shares) to its founders and early employees at a very low cash cost, because they are, in effect, putting their "sweat equity" into the Company. When the Company seeks cash investments from outside investors, like you, the new investors typically pay a much larger sum for their shares than the founders or earlier investors, which means that the cash value of your stake is immediately diluted because each share of the same type is worth the same amount, and you paid more for your shares (or the notes convertible into shares) than earlier investors did for theirs.

    There are several ways to value a company, and none of them is perfect and all of them involve a certain amount of guesswork. The same method can produce a different valuation if used by a different person.

    Liquidation Value - The amount for which the assets of the Company can be sold, minus the liabilities owed, e.g., the assets of a bakery include the cake mixers, ingredients, baking tins, etc. The liabilities of a bakery include the cost of rent or mortgage on the bakery. However, this value does not reflect the potential value of a business, e.g. the value of the secret recipe. The value for most startups lies in their potential, as many early stage companies do not have many assets (they probably need to raise funds through a securities offering in order to purchase some equipment).

    Book Value - This is based on analysis of the Company’s financial statements, usually looking at the Company’s balance sheet as prepared by its accountants. However, the balance sheet only looks at costs (i.e. what was paid for the asset), and does not consider whether the asset has increased in value over time. In addition, some intangible assets, such as patents, trademarks or trade names, are very valuable but are not usually represented at their market value on the balance sheet.

    Earnings Approach - This is based on what the investor will pay (the present value) for what the investor expects to obtain in the future (the future return), taking into account inflation, the lost opportunity to participate in other investments, the risk of not receiving the return. However, predictions of the future are uncertain and valuation of future returns is a best guess.

    Different methods of valuation produce a different answer as to what your investment is worth. Typically liquidation value and book value will produce a lower valuation than the earnings approach. However, the earnings approach is also most likely to be risky as it is based on many assumptions about the future, while the liquidation value and book value are much more conservative.

    Future investors (including people seeking to acquire the Company) may value the Company differently. They may use a different valuation method, or different assumptions about the Company’s business and its market. Different valuations may mean that the value assigned to your investment changes. It frequently happens that when a large institutional investor such as a venture capitalist makes an investment in a company, it values the Company at a lower price than the initial investors did. If this happens, the value of the investment will go down.

    Market Landscape

    Having Bot as a Service being a part of the global SaaS market we are looking at the Total Available Market of 113 Billion USD by 2019 as estimated in the latest report available for the market - Business Insider Intelligence - Chat Bot Monetization report created by Christina Anzalone and Laurie Beaver in Nov 16'

    Ultimately, we see our target market as being Amazon, Google, Microsoft, and Apple, as they develop their mobile and in-home interfaces and need to provide additional services beyond navigation, shopping, and entertainment. Microsoft Cortana may lead the pack in providing business productivity services, although Cortana is behind when it comes to real adoption. In any case, as the interfaces become standardized and the bots to third-party entities are standardized, we will be working towards fitting into the ecosystem such that we will provide licensing of our services to the large entities. Regardless of the interface, our AI will be able to provide Individual Business Productivity as a service through any platform. 

    Risks and Disclosures

    The development and commercialization of our products/services is highly competitive. We face competition with respect to any products that we may seek to develop or commercialize in the future. Our competitors include major companies worldwide. Many of our competitors have significantly greater financial, technical and human resources than we have and superior expertise in research and development and marketing approved products/services and thus may be better equipped than us to develop and commercialize products/services. These competitors also compete with us in recruiting and retaining qualified personnel and acquiring technologies. Smaller or early stage companies may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies. Accordingly, our competitors may commercialize products more rapidly or effectively than we are able to, which would adversely affect our competitive position, the likelihood that our products/services will achieve initial market acceptance and our ability to generate meaningful additional revenues from our products.

    We plan to implement new lines of business or offer new products and services within existing lines of business. There are substantial risks and uncertainties associated with these efforts, particularly in instances where the markets are not fully developed. In developing and marketing new lines of business and/or new products and services, we may invest significant time and resources. Initial timetables for the introduction and development of new lines of business and/or new products or services may not be achieved and price and profitability targets may not prove feasible. We may not be successful in introducing new products and services in response to industry trends or developments in technology, or those new products may not achieve market acceptance. As a result, we could lose business, be forced to price products and services on less advantageous terms to retain or attract clients, or be subject to cost increases. As a result, our business, financial condition or results of operations may be adversely affected.

    An intentional or unintentional disruption, failure, misappropriation or corruption of our network and information systems could severely affect our business. Such an event might be caused by computer hacking, computer viruses, worms and other destructive or disruptive software, "cyber attacks" and other malicious activity, as well as natural disasters, power outages, terrorist attacks and similar events. Such events could have an adverse impact on us and our customers, including degradation of service, service disruption, excessive call volume to call centers and damage to our plant, equipment and data. In addition, our future results could be adversely affected due to the theft, destruction, loss, misappropriation or release of confidential customer data or intellectual property. Operational or business delays may result from the disruption of network or information systems and the subsequent remediation activities. Moreover, these events may create negative publicity resulting in reputation or brand damage with customers.

    Our international operations could be affected by currency fluctuations, capital and exchange controls, expropriation and other restrictive government actions, changes in intellectual property legal protections and remedies, trade regulations and procedures and actions affecting approval, production, pricing, and marketing of, reimbursement for and access to our products, as well as by political unrest, unstable governments and legal systems and inter-governmental disputes. Any of these changes could adversely affect our business. Many emerging markets have experienced growth rates in excess of the world’s largest markets, leading to an increased contribution to the industry’s global performance. There is no assurance that these countries will continue to sustain these growth rates. In addition, some emerging market countries may be particularly vulnerable to periods of financial instability or significant currency fluctuations or may have limited resources for healthcare spending, which can adversely affect our results.

    The Company’s success depends on the experience and skill of the board of directors, its executive officers and key employees. In particular, the Company is dependent on Martin Ancevski and Nino Karas who are CTO and CEO of the Company. The Company has or intends to enter into employment agreements with Martin Ancevski and Nino Karas although there can be no assurance that it will do so or that they will continue to be employed by the Company for a particular period of time. The loss of Martin Ancevski and Nino Karas or any member of the board of directors or executive officer could harm the Company’s business, financial condition, cash flow and results of operations.

    We have not prepared any audited financial statements. Therefore, you have no audited financial information regarding the Company’s capitalization or assets or liabilities on which to make your investment decision. If you feel the information provided is insufficient, you should not invest in the Company.

    We are not subject to Sarbanes-Oxley regulations and lack the financial controls and safeguards required of public companies. We do not have the internal infrastructure necessary, and are not required, to complete an attestation about our financial controls that would be required under Section 404 of the Sarbanes-Oxley Act of 2002. There can be no assurance that there are no significant deficiencies or material weaknesses in the quality of our financial controls. We expect to incur additional expenses and diversion of management’s time if and when it becomes necessary to perform the system and process evaluation, testing and remediation required in order to comply with the management certification and auditor attestation requirements.

    The Company has indicated that it has engaged in certain transactions with related persons. Please see the section of this Memorandum entitled "Transactions with Related Persons and Conflicts of Interest" for further details.

    The Company could be negatively impacted if found to have infringed on intellectual property rights. Technology companies, including many of the Company’s competitors, frequently enter into litigation based on allegations of patent infringement or other violations of intellectual property rights. In addition, patent holding companies seek to monetize patents they have purchased or otherwise obtained. As the Company grows, the intellectual property rights claims against it will likely increase. The Company intends to vigorously defend infringement actions in court and before the U.S. International Trade Commission. The plaintiffs in these actions frequently seek injunctions and substantial damages. Regardless of the scope or validity of such patents or other intellectual property rights, or the merits of any claims by potential or actual litigants, the Company may have to engage in protracted litigation. If the Company is found to infringe one or more patents or other intellectual property rights, regardless of whether it can develop non-infringing technology, it may be required to pay substantial damages or royalties to a third-party, or it may be subject to a temporary or permanent injunction prohibiting the Company from marketing or selling certain products. In certain cases, the Company may consider the desirability of entering into licensing agreements, although no assurance can be given that such licenses can be obtained on acceptable terms or that litigation will not occur. These licenses may also significantly increase the Company’s operating expenses. Regardless of the merit of particular claims, litigation may be expensive, time-consuming, disruptive to the Company’s operations and distracting to management. In recognition of these considerations, the Company may enter into arrangements to settle litigation. If one or more legal matters were resolved against the Company’s consolidated financial statements for that reporting period could be materially adversely affected. Further, such an outcome could result in significant compensatory, punitive or trebled monetary damages, disgorgement of revenue or profits, remedial corporate measures or injunctive relief against the Company that could adversely affect its financial condition and results of operations.

    We rely heavily on our technology and intellectual property, but we may be unable to adequately or cost-effectively protect or enforce our intellectual property rights, thereby weakening our competitive position and increasing operating costs. To protect our rights in our services and technology, we rely on a combination of copyright and trademark laws, patents, trade secrets, confidentiality agreements with employees and third parties, and protective contractual provisions. We also rely on laws pertaining to trademarks and domain names to protect the value of our corporate brands and reputation. Despite our efforts to protect our proprietary rights, unauthorized parties may copy aspects of our services or technology, obtain and use information, marks, or technology that we regard as proprietary, or otherwise violate or infringe our intellectual property rights. In addition, it is possible that others could independently develop substantially equivalent intellectual property. If we do not effectively protect our intellectual property, or if others independently develop substantially equivalent intellectual property, our competitive position could be weakened. Effectively policing the unauthorized use of our services and technology is time-consuming and costly, and the steps taken by us may not prevent misappropriation of our technology or other proprietary assets. The efforts we have taken to protect our proprietary rights may not be sufficient or effective, and unauthorized parties may copy aspects of our services, use similar marks or domain names, or obtain and use information, marks, or technology that we regard as proprietary. We may have to litigate to enforce our intellectual property rights, to protect our trade secrets, or to determine the validity and scope of others’ proprietary rights, which are sometimes not clear or may change. Litigation can be time consuming and expensive, and the outcome can be difficult to predict.

    We must acquire or develop new products, evolve existing ones, address any defects or errors, and adapt to technology change. Technical developments, client requirements, programming languages, and industry standards change frequently in our markets. As a result, success in current markets and new markets will depend upon our ability to enhance current products, address any product defects or errors, acquire or develop and introduce new products that meet client needs, keep pace with technology changes, respond to competitive products, and achieve market acceptance. Product development requires substantial investments for research, refinement, and testing. We may not have sufficient resources to make necessary product development investments. We may experience technical or other difficulties that will delay or prevent the successful development, introduction, or implementation of new or enhanced products. We may also experience technical or other difficulties in the integration of acquired technologies into our existing platform and applications. Inability to introduce or implement new or enhanced products in a timely manner could result in loss of market share if competitors are able to provide solutions to meet customer needs before we do, give rise to unanticipated expenses related to further development or modification of acquired technologies as a result of integration issues, and adversely affect future performance.

    Our failure to deliver high quality server solutions could damage our reputation and diminish demand for our products, and subject us to liability. Our customers require our products to perform at a high level, contain valuable features and be extremely reliable. The design of our server solutions is sophisticated and complex, and the process for manufacturing, assembling and testing our server solutions is challenging. Occasionally, our design or manufacturing processes may fail to deliver products of the quality that our customers require. For example, a vendor may provide us with a defective component that failed under certain heavy use applications. As a result, our product would need to be repaired. The vendor may agree to pay for the costs of the repairs, but we may incur costs in connection with the recall and diverted resources from other projects. New flaws or limitations in our products may be detected in the future. Part of our strategy is to bring new products to market quickly, and first-generation products may have a higher likelihood of containing undetected flaws. If our customers discover defects or other performance problems with our products, our customers’ businesses, and our reputation, may be damaged. Customers may elect to delay or withhold payment for defective or underperforming products, request remedial action, terminate contracts for untimely delivery, or elect not to order additional products. If we do not properly address customer concerns about our products, our reputation and relationships with our customers may be harmed. In addition, we may be subject to product liability claims for a defective product. Any of the foregoing could have an adverse effect on our business and results of operations.

    Industry consolidation may result in increased competition, which could result in a loss of customers or a reduction in revenue. Some of our competitors have made or may make acquisitions or may enter into partnerships or other strategic relationships to offer more comprehensive services than they individually had offered or achieve greater economies of scale. In addition, new entrants not currently considered to be competitors may enter our market through acquisitions, partnerships or strategic relationships. We expect these trends to continue as companies attempt to strengthen or maintain their market positions. The potential entrants may have competitive advantages over us, such as greater name recognition, longer operating histories, more varied services and larger marketing budgets, as well as greater financial, technical and other resources. The companies resulting from combinations or that expand or vertically integrate their business to include the market that we address may create more compelling service offerings and may offer greater pricing flexibility than we can or may engage in business practices that make it more difficult for us to compete effectively, including on the basis of price, sales and marketing programs, technology or service functionality. These pressures could result in a substantial loss of our customers or a reduction in our revenue.

    Our business could be negatively impacted by cyber security threats, attacks and other disruptions. Like others in our industry, we continue to face advanced and persistent attacks on our information infrastructure where we manage and store various proprietary information and sensitive/confidential data relating to our operations. These attacks may include sophisticated malware (viruses, worms, and other malicious software programs) and phishing emails that attack our products or otherwise exploit any security vulnerabilities. These intrusions sometimes may be zero-day malware that are difficult to identify because they are not included in the signature set of commercially available antivirus scanning programs. Experienced computer programmers and hackers may be able to penetrate our network security and misappropriate or compromise our confidential information or that of our customers or other third-parties, create system disruptions, or cause shutdowns. Additionally, sophisticated software and applications that we produce or procure from third-parties may contain defects in design or manufacture, including "bugs" and other problems that could unexpectedly interfere with the operation of the information infrastructure. A disruption, infiltration or failure of our information infrastructure systems or any of our data centers as a result of software or hardware malfunctions, computer viruses, cyber attacks, employee theft or misuse, power disruptions, natural disasters or accidents could cause breaches of data security, loss of critical data and performance delays, which in turn could adversely affect our business.

    If we do not respond to technological changes or upgrade our websites and technology systems, our growth prospects and results of operations could be adversely affected. To remain competitive, we must continue to enhance and improve the functionality and features of our websites and technology infrastructure. As a result, we will need to continue to improve and expand our hosting and network infrastructure and related software capabilities. These improvements may require greater levels of spending than we have experienced in the past. Without such improvements, our operations might suffer from unanticipated system disruptions, slow application performance or unreliable service levels, any of which could negatively affect our reputation and ability to attract and retain customers and contributors. Furthermore, in order to continue to attract and retain new customers, we are likely to incur expenses in connection with continuously updating and improving our user interface and experience. We may face significant delays in introducing new services, products and enhancements. If competitors introduce new products and services using new technologies or if new industry standards and practices emerge, our existing websites and our proprietary technology and systems may become obsolete or less competitive, and our business may be harmed. In addition, the expansion and improvement of our systems and infrastructure may require us to commit substantial financial, operational and technical resources, with no assurance that our business will improve.

    General Risks and Disclosures

    Start-up investing is risky. Investing in startups is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the company which can be found in this company profile and the documents in the data room below.

    Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for these shares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company 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 the company either lists their shares on an exchange, is acquired, or goes bankrupt.

    The Company may not pay dividends for the foreseeable future. Unless otherwise specified in the offering documents and subject to state law, you are not entitled to receive any dividends on your interest in the Company. Accordingly, any potential investor who anticipates the need for current dividends or income from an investment should not purchase any of the securities offered on the Site.

    Valuation and capitalization. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.

    You may only receive limited disclosure. While the company must disclose certain information, since the company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The company may also only obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events — through continuing disclosure that you can use to evaluate the status of your investment.

    Investment in personnel. An early-stage investment is also an investment in the entrepreneur or management of the company. Being able to execute on the business plan is often an important factor in whether the business is viable and successful. You should be aware that a portion of your investment may fund the compensation of the company’s employees, including its management. You should carefully review any disclosure regarding the company’s use of proceeds.

    Possibility of fraud. In light of the relative ease with which early-stage companies can raise funds, it may be the case that certain opportunities turn out to be money-losing fraudulent schemes. As with other investments, there is no guarantee that investments will be immune from fraud.

    Lack of professional guidance. Many successful companies partially attribute their early success to the guidance of professional early-stage investors (e.g., angel investors and venture capital firms). These investors often negotiate for seats on the company’s board of directors and play an important role through their resources, contacts and experience in assisting early-stage companies in executing on their business plans. An early-stage company may not have the benefit of such professional investors.

    Letz's Form C

    The Form C is a document the company must file with the Securities and Exchange Commission, which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Download Letz's  Form C

    Frequently Asked Questions

    About Side by Side Offerings
    What is Side by Side?

    A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.


    What is a Form C?

    The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.


    What is Rule 506(c) under Regulation D?

    Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.


    What is Reg CF?

    Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $1 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive shares, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.


    Making an Investment in Letz
    How does investing work?

    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 Letz. Once Letz accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Letz in exchange for your shares. At that point, you will be a proud owner in Letz.


    What will I need to complete my investment?

    To make an investment, you will need the following information readily available:

    1. Personal information such as your current address and phone number
    2. Employment and employer information
    3. Net worth and income information
    4. Social Security Number or government-issued identification
    5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

    If you are investing under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.


    How much can I invest?

    An investor is limited in the amount that he or she may invest in a Reg CF offering during any 12-month period:

    • If either the annual income or the net worth of the investor is less than $100,000, the investor is limited to the greater of $2,000 or 5% of the lesser of his or her annual income or net worth.
    • If the annual income and net worth of the investor are both greater than $100,000, the investor is limited to 10% of the lesser of his or her annual income or net worth, to a maximum of $100,000.

    Separately, Letz has set a minimum investment amount of US $500.

    Accredited investors investing $20,000 or over do not have investment limits.


    After My Investment
    What is my ongoing relationship with the Issuer?

    You are a partial owner of the company, you do own shares after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.

    In certain circumstances a company may terminate its ongoing reporting requirement if:

    1. The company becomes a fully-reporting registrant with the SEC
    2. The company has filed at least one annual report, but has no more than 300 shareholders of record
    3. The company has filed at least three annual reports, and has no more than $10 million in assets
    4. The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
    5. The company ceases to do business

    However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.


    How can I sell my shares in the future?

    Currently there is no market or liquidity for these shares. Right now Letz does not plan to list these shares on a national exchange or another secondary market. At some point Letz 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 Letz either lists their shares on an exchange, is acquired, or goes bankrupt.


    How do I keep track of this investment?

    You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.


    Other General Questions
    What is this page about?

    This is Letz'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. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the Letz's Form C. The Form C includes important details about Letz's fundraise that you should review before investing.


    How can I (or the company) cancel my investment under Regulation CF?

    For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours before a closing occurs or an earlier date set by the company. You will be sent a reminder notification approximately five days before the closing or set date giving you an opportunity to cancel your investment if you had not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your shares have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, you may go to your portfolio page


    What if I change my mind about investing?

    If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. 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.