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Loop

Private social network and home display that helps families stay connected

  • $4,874,458Amount raised
  • $5,000Minimum
  • $8,500,000Valuation cap

Purchased securities are not listed on any exchange. A secondary market for these securities does not currently exist and may never develop. You should not purchase these securities with the expectation that one eventually will.

Loop is accepting investments for an Offering under Regulation D 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. This profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events based on information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially. Investors are cautioned not to place undue reliance on these forward-looking statements as they are meant for illustrative purposes and they do not represent guarantees of future results, levels of activity, performance, or achievements, all of which cannot be made. Moreover, no person nor any other person or entity assumes responsibility for the accuracy and completeness of forward-looking statements, and is under no duty to update any such statements to conform them to actual results.


Company Highlights

  • Investors include Resolute Ventures, Jason Calacanis, David Tisch, Gokul Rajaram - board of Coinbase and Pinterest, Moai Capital - Brian Jacobs, co-founder of Emergence Capital, Tim Kendall - former President of Pinterest and early Facebook exec, Othman Laraki - founder of Color, former VP of Product at Twitter
  • Shipped over $1M worth of product
  • Founders include the former engineering lead for Zynga's "Words with Friends" one of the world's most popular mobile games
  • Proven subscription plan for $36/yr with 29.6% attach rate (based on Loop Digital Frames purchased in 2020)
  • Nationwide pilot at Best Buy stores sold out in less than four weeks

Fundraise Highlights

  • Total Amount Raised: US $4,874,458
  • Total Round Size: US $5,500,000
  • Raise Description:  Seed
  • Minimum Investment:  US $5,000 per investor
  • Security Type:  Convertible Note
  • Valuation Cap:  US $8,500,000

Staying connected is more important now than ever. Loop’s unique hardware plus software solution offers families an unparalleled level of simplicity and privacy, while promising to keep "everyone in the Loop."


THE PROBLEM

Most families use a hodgepodge of different services to share photos and stay connected. They use things like messaging apps (iMessage, Whatsapp), social media (FB/IG), and email.  But invariably there are problems - some family members have iOS and others have Android. Some people are comfortable with putting pictures of their kids on Facebook and others are not. Some people are super tech savvy, others are not. It’s messy, leaves some people disconnected and now privacy is becoming a bigger deal.

THE SOLUTION

Loop is an integrated app and digital frame that connects families in a low friction way. It’s a seamless end to end experience and is incredibly easy to use.

HOW IT WORKS

A customer typically begins with the purchase of a frame that goes out to their mother or grandmother. The rest of the family downloads the Loop app, creates albums, and starts sharing photos to the Loop. Soon they add more frames to other family homes and the app proliferates even further until there is small family network.

Whenever someone posts a photo to Loop, it automatically shows up on the frames in seconds, anywhere in the world creating a magic moment as someone walks into their home and sees it. The app becomes the central family sharing place. People can comment, 'like' and add emojis. Notifications alert when new content is uploaded so everyone is up to date and “in the Loop.”

“RAZOR AND BLADES” SUBSCRIPTION BUSINESS MODEL

Loop acquires customers through the sale of the hardware. At a $179 price point, Loop commands 63% gross margin(Razor). Similar to Ring doorbell, Loop offers a monthly subscription for $3/mo ($36/yr) (Blades). With the subscription service, users get the advantage of cloud services including unlimited Google photos, Adobe Lightroom and even the ability to text message content to Loop.

Media Mentions

The Team

Founders and Officers

Brian was a general manager at Maxim Integrated where he ran a $100M business in video compression technology that went into consumer cameras. Prior to Maxim Brian was a consultant at Boston Consulting Group and attended Massachusetts Institute of Technology. 

Brian Gannon

CEO

Brian was a general manager at Maxim Integrated where he ran a $100M business in video compression technology that went into consumer cameras. Prior to Maxim Brian was a consultant at Boston Consulting Group and attended Massachusetts Institute of Technology. 

Sital Mistry

Head of Software

Sital runs all software at Loop. Prior to Loop, Sital ran software engineering for Zynga's Words' with Friends, one of the most popular mobile games with 218M users, including iOS, Android and Web. Sital graduated from Cal Berkeley.

Sital Mistry

Head of Software

Sital runs all software at Loop. Prior to Loop, Sital ran software engineering for Zynga's Words' with Friends, one of the most popular mobile games with 218M users, including iOS, Android and Web. Sital graduated from Cal Berkeley.

Ethan Ballweber

Head of Design

Ethan graduated from RISD design school and worked at the world renown Altitude design before joining Loop. Ethan signature work on the WIMM wearable eventually became Android Wear, Google's flagship wearable tech.

Ethan Ballweber

Head of Design

Ethan graduated from RISD design school and worked at the world renown Altitude design before joining Loop. Ethan signature work on the WIMM wearable eventually became Android Wear, Google's flagship wearable tech.

Notable Advisors & Investors

Tim Kendall

Investor, Former president of Pinterest and early exec at Facebook

Liz Hamren

Investor, CVP Microsoft Xbox, former CMO of Personal Capital and Oculus Rift.

Gokul Rajarm

Investor, Board member of Coinbase, Pinterest, former early Google, Facebook.

Jason Calacanis

Investor, Investor in Uber, Robinhood Thumbtack

Othman Laraki

Investor, CEO of Color Genomics, Fmr VP Product Twitter

Nathan Folkman

Advisor, Former CTO Path social network

Aamir Virani

Advisor, Co-founder of Dropcam which was sold to Google for $500M

Investor Perks

$7,500 -$9,999

  • 2 Loops
  • One free year subscription
  • Bonus perk: Invest by May 28, 2021 and receive 50% off future Loop purchases for life

$10,000 - $19,999

  • 5 Loops
  • One lifetime free subscription
  • One year-long free subscription to be gifted at the investor's discretion
  • Bonus perk: Invest by May 28, 2021 date and receive 50% off future Loop purchases for life

$20,000+

  • 10 Loops
  • One lifetime free subscription
  • 3 year-long free subscriptions to be gifted at the investor's discretion
  • Bonus perk: Invest by May 28, 2021 date and receive 50% off future Loop purchases for life

It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

Please note that due to share price calculations, some final investment amounts may be rounded down to the nearest whole share - these will still qualify for the designated perk tier. Additionally, investors must complete the online process and receive an initial email confirmation by the deadline stated above in order to be eligible for perks.

Frequently Asked Questions

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


What is the difference between preferred equity and a convertible note?

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.


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 passport
  5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

Because Loop is offering its securities 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.


What if I change my mind about investing?

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 securities 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 by clicking your profile icon in the top right corner.


After My Investment
How can I sell my securities in the future?

Currently there is no market or liquidity for these securities. Right now Loop does not plan to list these securities on a national exchange or another secondary market. At some point Loop 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 Loop either lists their securities 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.


Other General Questions
What is this page about?

This is Loop'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.


What are the risks of this investment?

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 Loop’s profile.