XY Findables (né XY Find It) is crowdfunding under Reg A+ on StartEngine. XY Findables originally launched a rewards based campaign on Kickstarter back in February of 2014. At that time, XY Findables raised over $200,000 from more than 4000 backers for their Bluetooth tracking device – a very hot crowdfunding sector at that time. The item finder company has since grown and, according to their offer page on StartEngine, generated over $1.5 million in revenue during 2015 and, as of April 2016, has booked revenue topping $2 million. XY Findables states it has sold 100,000 units since launch but the SEC filing puts that number at around 225,000 as of April. The XY 3, the most recent Bluetooth iteration, has pretty good reviews – according to Amazon. XY Findables has several established competitors including Tile and Trackr Bravo.
XY Findables has moved beyond Bluetooth trackers and will soon offer a range of products including a GPS/3G technology thus hurdling the Bluetooth shortcomings. To bring XY GPS to market, the company expects to spend about $1.1 million on development, tooling, initial manufacturing, business development and marketing costs.
According to the most recent offering circular for the Reg A+ offer, XY Findables is hoping to raise up to $10 million in equity funding. As part of the deal, founding CEO Arie Trouw, plans to sell up to 30% of the 10,000,000 share offer so net to the company will be $7 million (a bit less after expenses).
The new funding will be used for company growth with a sizeable portion (40%) for marketing its product. The big push will be with the forthcoming GPS version finder.
The new XY GPS Finder will use cellular technology to broadcast 1 to 10 times per hour to the nearest cell tower to provide its location. The cell service is expected to cost just $5 month with the device starting at $79.99 (one month free).
XY Findables has established relationships with various distribution and retail partners including Fry’s Electronics, Amazon, Target, Brookstone, Sharper Image, Zulily, Birchbox and their own XY website. It is interesting that during the six months ended June 30, 2016, XY Findables five largest customer’s (which accounted for approximately 55% of its sales during the period) were the Transportation Security Administration (TSA), Amazon, Zulily, NEXCON and Fox & Friends.
The offer on StartEngine starts with a $350 minimum at $1/share.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!