BeautyKind, a beauty website, announced that it has filed an offering statement with the Securities and Exchange Commission (SEC) for a Regulation A+ public offering to raise up to $10 million with a minimum raise of $5 million. The offer will be conducted by WR Hambrecht + Co as the sole underwriter.
The website is an interesting hybrid charity-ecommerce platform where consumers raised funds for charitable causes while they shop. Five Percent of every purchase from BeautyKind goes to a charity selected by the customer. BeautyKind rewards its customer for sharing and building a “CARE network”. For every $5.00 the customer’s network raises, the customer earns one Beauty Point, which equals $1.00. A customer can use these dollars as currency on the site to purchase products or samples, upgrade or pay for shipping, donate to their cause, or even take out as cash on a debit card. The company sells beauty, hair, fragrance, and skin care products through direct sales. It also has a store inside the Bloomingdale’s outlet store in New York City.
The company generated $517,713 in revenue for the six months ending July 31, 2015. The additional capital will be utilized to boost company growth – something management expects to jump dramatically in coming months.
— BeautyKind (@WeAreBeautyKind) February 21, 2016
Founder and CEO, Hil Davis, stated:
“The core belief behind BeautyKind is to give back to causes and its customers, and our Regulation A+ public offering reinforces this notion. We’re proud to provide all members of our community with the opportunity to invest early in the lifecycle of our company, and to help shape its growth.Customers are the most valuable asset to any brand’s success and we emphasize a ‘for the people, by the people,’ approach throughout all facets of our business model.”
The company will create new ventures, including a personalized online beauty experience and mobile app for customers where they can easily restock their favorite products and learn beauty tips and tricks.
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