Myles Pang
Okotoks, AB (CAN)
Role(s):
Founder/Owner/Principal
Swopwear
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Startup
Location:
Okotoks
Industry:
Wholesale
Year Founded:
2008
Number Employees:
1-10 people
Description:
Our business, Swopwear, is seeking for $5 Mil in early stage business funding to grow our Wholesale startup business. Swopwear is located in Okotoks, AB and our company currently brings in annual gross sales of $250k or Less. I have included some basic details below regarding the funding that we're looking for.
Swopwear is a web based and real-world product driven business concept. First conceived in 1999 by Myles Pang as an interactive game (more details available with NDA) and enhanced in 2009 with the addition of a web game portal. Patent pending.
Trends of comparable businesses:
Webkinz® is estimated to sell over $100 Million annually.
Even in a recession, people will still want to be entertained. The Great Depression saw resilience and even growth in movie ticket sales as one of the cheapest ways for people to entertain themselves. As this economy tightens through 2009, we'll find growing numbers of "time rich-cash poor" consumers seeking today's lowest cost methods to entertain themselves.
Swopwear would prefer to receive funding from these types of sources:
-Equity Funding (Venture Capital, Angel, Private Equity, etc.)
At this point in time, we intend to use the funds that we raise for the following purposes:
-Operating: Establishing crew of IT and Marketing professionals.
-Product Development: Construction of interactive website that will allow users to represent their real world items and self image in a kid-safe web environment.
Development of high quality prototypes. (No significant technical obstacles anticipated.)
-Marketing: We will be seeking to attain numerous partnership contracts with brands such as Disney ®, Hanna Montana ®, NHL ®, NBA ®, Ford®, etc.
The more partnerships attained the more complex and interesting the game becomes.
We are currently in prototype development. Scheduled to be complete April 30th, 2010. Subsequent market test will be available for investors by June 2010.