Ooooby Limited
By Pete Russell
PledgeMe.Investment
Food,
NZ $284,756 pledged
155 people pledged
Closed
NZ $200,000 minimum target
This campaign was successful and closed on 29/09/2015 at 8:00 PM.
Make a PledgeAbout
Ooooby Limited
We have spent five years building the systems, know-how and software that allows for local teams to setup an Ooooby Hub. It is time to add to our systems, infrastructure and team to allow for more communities to buy and sell locally using our Ooooby platform.
We are not your standard business. Our primary purpose is to rebuild local food economies.
Founded in 2010 in the backyards of Auckland through the realisation and understanding that the world's globalised food structure was failing us at a local level.
Ooooby's founders and core team are serious about putting mission before money.
90% of the founders shares have been transferred to the Ooooby Foundation, a not-for-profit trust with the primary purpose of rebuilding our local food systems. This way a large proportion of any profits will be channelled back into tackling the issues around food systems instead of personally profitting.
Ooooby provides software that connects growers and creators of local food with buyers in the form of a weekly subscription.
Oooby Limited owns the software used by all Hubs who pay an 8% licensing fee based on total sales made through the platform.
Local Hubs are setup and managed locally with the use of our platform.
We have chosen licensing for hubs outside of Auckland rather than a company-owned model because local food systems need to be owned by the local communities and run by local people.
This model and ethos means the range of communities a Hub can sustainably operate is significant.
We have already coordinated the delivery of more than 70,000 boxes of fresh local food to more than 5,000 happy customers from four hubs in three countries (NZ, Australia, and USA).
Sales across the Ooooby network are in excess of $1 million in the past four months. We are beginning to make a real impact.
What's different about the Ooooby model?
Our model is lean. This means our market isn't just major cities, Ooooby can operate anywhere that has more than 150 households who want local food delivered weekly to their door.
We are offering a minimum of $200,000 and a maximum of $800,000 investor shares at $1 each in Ooooby Limited. There is a minimum purchase of 500 shares per shareholder. These are non-voting shares (with very limited exceptions). Any dividends paid on investor shares will not be unrestricted cash dividends- see "What is different about the Ooooby share offer" below for more details. This information is a summary of the offer only - please refer to the Information Memorandum for full information and terms & conditions. By accepting this offer you'll be bound by the terms & conditions in this Information Memorandum.
We have valued Ooooby Limited at $8 million before this offer. This is based on a five times projected revenue for the current financial year (ending 31 March 2016). For more information on methodologies used and assumptions refer to page 32 of our Information Memorandum.
Ooooby Shareholding
What is different about the Ooooby share offer?
- 90% of company's shareholding is now owned by the Ooooby Foundation, a not-for-profit trust committed to using any of its realised profits from Ooooby Limited in ways that help rebuild our local food systems.
- The Ooooby Foundation shares carry full voting rights. Investor shares are non-voting shares (with very limited exceptions). The founders hold investor shares.
- Any dividends paid on investor shares will not be unrestricted cash dividends. Rather they must be used for local food projects (e.g. conversion into Ooooby store vouchers, put towards a local school food growing project). See Schedule 3 of the constitution and page 15 of the Information Memorandum for full details..
About our Team
The Ooooby team has developed organically over the last five years allowing for well-established working relationships, a healthy team culture and a well-rounded complement of skills, talents and expertise.
Pete Russell - Founder and CEO (Director)
Pete is a passionate and driven entrepreneur with more than 12 years experience running food enterprises across manufacture, wholesale, distribution and retail. Pete draws the team together and provides the constant push for innovation, quality improvements and continued growth.
Davy van de Vusse (BE Hons I) - CTO (Director)
Davy is chief engineer of the Ooooby software platform. With a background building functional and effective business software, Davy has built up years of experience in how to architect efficient food distribution and logistics software.
Nick Pinchin FCA (ICAEW) - CFO
Nick is our top-level numbers guy with wide experience in senior financial roles within small and medium- sized business in both the UK and NZ. Nick oversees all our financial activity on a day to day basis, helps to shape our business strategies and provides critical insights for executive decision making.
James Samuel - New Hub Development
James brings deep experience in community engagement. An educator with diverse experience in online software, James is setting up the online learning tools to support the establishment of new hubs. Past projects include Transition Towns Aotearoa, Food Forest NZ, and food production education tours.
Daphne Gehrels - New Hub Training & Support
Daphne has a background in Organisation Studies and Sociology. She started working for Ooooby in Sydney as Customer Happiness representative, then moved to New Zealand to set up the new Waikato Hub and help run the Auckland hub. She has extensive experience with all Ooooby operations and will use her knowledge to support new hubs.
Tim Huston - Marketing
While Tim’s a relative newbie to Ooooby, he has spent the last 25 years working in the digital marketing, advertising and communications game in both NZ and Australia. Tim’s focus at Ooooby is on developing marketing strategies that bring on new customers and keep hold of the existing ones.
What we've done so far
- 5 years of operation
- 70,000 boxes delivered (to 5,000 customers)
- 35 growers and 40 artisan suppliers
- 3 countries with operational hubs
- 15 fulltime equivalent staff currently
- 6,000 members on our food growers network
- Finalist in the Deloitte Rising Stars
- $20,000 of food donated by our customers to Auckland City Mission
- 900 expresssions of interest in New Zealand outside of current delivery areas and 1,300 around the world.
- 109 customers who have received over 100 Ooooby boxes.
- 90% of our customers have rated our service betwen 7 and 10 out of 10.
What's next?
Our focus will be around two key elements: People and Software. This will allow us to better help current hubs as well as work with new communities interested in setting up hubs in their own backyards.
We have teams already working with us to begin setting up new hubs in
- Bay of Plenty
- Palmerston North
- Kapiti Coast
- Christchurch
- Yorkshire (UK)
Beyond this we have received interest and been connected into communities throughout NZ, part of Australia and more of California.
Finally, with a full raise we will look to expand the range of offerings in Auckland by adding infrastructure and chilled delivery options.
Risks and Challenges
Note from PledgeMe
We have completed a Veda check on the company and their directors, as well as a Google check. There were no adverse findings.
Updates 7
You need to pledge to see this update.
You need to pledge to see this update.
It's simple maths
13/09/2015 at 2:44 PM
Invest $500 and receive a 5% discount on your groceries. At $50 grocery spend per week you save $130 per year. This means your investment has paid itself back in less than 4 years and then you have an ongoing saving of 5% on your groceries.
Of course, if you spend more than $50 per week on your groceries with Ooooby then your payback will be sooner.
You are also entitled to dividends when they become available which you can use to further reduce your cost of groceries. And most of all, you are helping to build a better food system.
Offer closes 8pm 29th September.
You need to pledge to see this update.
You need to pledge to see this update.
You need to pledge to see this update.
We're off to a solid start!
01/09/2015 at 3:50 PM
A massive thanks to the 39 people who have invested over $50,000 in the first 24 hours. We're already 25% toward our minimum target!
The Ooooby Investor evening at at AUT last night was a great success with lots of excellent questions coming from the audience. We're looking forward to our talks in Tauranga, Palmerston North, Wellington and Christchurch over the next few days. Here's the schedule of events.
Details
Offer Details
Current Valuation | 8,000,000 |
Raise Minimum | 200,000 |
Raise Maximum | 800,000 |
Share Price | 1.00 |
Minimum Pledge | 500.00 |
Maximum Shares Offered | 800,000 |
Explanation of valuation:
We applied a 5 times projected revenue for current financial year as one approach. We also benchmarked against similar businesses using a value to earnings ratio.
Rights attached to these shares
The shares on offer are investor shares. These are non-voting shares, except in very limited circumstances. This ensures that shareholders’ core rights are protected and gives shareholders the right to one vote on a proposal or resolution:
- That would affect the rights attached to the investor shares;
- To put the company into liquidation;
- For the disposal of the whole, or a material part, of the property, business and undertaking of Ooooby Limited.
Investor shares will give the holders:
- The right to an equal share in dividends and other distributions made by Ooooby Limited (subject to the rights of any other class of share);
- The right to an equal share in the distribution of surplus assets of Ooooby Ltd.
Investor shares do not give shareholders any rights to vote on the appointment or removal of directors. We recommend that you read our constitution for other terms that will apply to any shareholding in Ooooby Ltd. The constitution is available with this offer.
Any dividends paid on investor shares will not be unrestricted cash dividends. Rather they must be used for local food projects (e.g. conversion into Ooooby store vouchers, put towards a local school food growing project). See Schedule 3 of the constitution and page 15 of the Information Memorandum for full details.
The following financial information is based on Ooooby's Gold projections. Full projections can be found on page 25 of the Information Memorandum.
Financial Summary
Prev Year | Current Year | Est. FY 2026 | Est. FY 2027 | |
---|---|---|---|---|
Revenue | NZ $788,000 | NZ $1,562,000 | NZ $3,086,000 | NZ $5,033,000 |
Operating Expenses | NZ $823,000 | NZ $1,752,000 | NZ $3,498,000 | NZ $4,931,000 |
EBITDA | -NZ $36,000 | -NZ $190,000 | -NZ $412,000 | NZ $102,000 |
Net Profit | -NZ $46,000 | -NZ $230,000 | -NZ $424,000 | NZ $91,000 |
Company Details
Company Name: Ooooby Ltd (registered as OOOOBY LIMITED)
Company Number: 9429031660853
Companies Office URL: https://www.business.govt.nz/companies/app/ui/pages/companies/2407277
Incorporation Date: 18 Feb 2010
Company Status: Registered
Entity Type: Registered
Constitution Filed: Yes
Annual Return Filing Month: July, last filed 06 Jul 2015
Addresses:
Registered Office |
182 Awaawaroa Road Rd 1 Waiheke Island |
Address for Service |
182 Awaawaroa Road Rd 1 Waiheke Island |
Company Documents
Director Details
Name | Role | Profile URL | Invested? |
---|---|---|---|
Pete Russell | Founder / CEO | https://www.linkedin.com/profile/view?id=12453702&authType=NAME_SEARCH&authToken=HAoK&locale=en_US&trk=tyah&trkInfo=clickedVertical%3Amynetwork%2CclickedEntityId%3A12453702%2CauthType%3ANAME_SEARCH%2Cidx%3A1-1-1%2CtarId%3A1440979635508%2Ctas%3Apete%20rus | ✔ |
Davy van de Vuss | CTO | https://nz.linkedin.com/in/davyvandevusse | ✔ |
Questions 9
Hi, I went to the Ooooby website, I don't see the option for direct debit for payment. When will the pledger get investor perks eg. 7.5% Promo code?
Posted on 13-10-2015 by SM AngHi SM. As an investor you will automatically be eligible for your discount as long as the email you provided with your pledge matches the email you use for your Ooooby account. If you would like to make your payment via direct debit then please send an email to [email protected] and this can be arranged for you.
Answered on 14-10-2015 by Pete Russell
HI there
I am new to this, What does this mean:
Equity Offer:
From $200,000 for 2.4%
Up to $800,000 for 9.1%
I know about the minimum $200,000 and the maximum $800,000 but I do not get what the 2.4% and 9.1% respectively connote? and what difference does this make as far as the investor is concerned please?
Kynsley
Posted on 10-09-2015 by KynsleyHi Kynsley
The % refers to the portion of the company that is on offer depending on the raise amount. For example, if we raise $200,000 then the investors in this round would collectively own 2.4% of the company. If we raise $800,000 then the investors in this round would collectively own 9.1% of the company. The difference between the two levels of investment to an investor is a slight decrease in your % of the total pie as more shares are sold. However we will also have more resources to help make a bigger pie.
Answered on 10-09-2015 by Pete Russell
Hi. Can you please explain more about the processing for setting up additional hubs ? Specifically operator requirements (who? what they need?) and grower sourcing/customer finding (is the operator responsible for this, do you share this task?)
Regards, Scott
Hi Scott. The first step in setting up a new hub is identifying the right person to be the custodian in their local area. This person is then responsible for recruiting growers and artisan suppliers, setting up a facility to operate from, learning the operating systems and software, recruiting managers, packers and drivers and recruiting customers. Ooooby provides guidance and coaching throughout this process.
Answered on 08-09-2015 by Pete Russell
I understand $500 is a minimum at this stage but if the rules change can you keep a record of my name - I'd like to pledge $100. Karen.
Posted on 05-09-2015 by Karen MayHello Karen, Thank you for your offer to pledge $100. Now that the minimum limit has been set for this offer we can't change it unfortunately. Another option could be for you to donate to the Ooooby Foundation as there is no minimum required for that, however you would not receive shares for your donation. Thanks again for your support. - Pete
Answered on 05-09-2015 by Pete Russell
Hi,
If I make a pledge now am I able to increase that pledge or make a second pledge later on (before the 29/9 or they are fully allocated)?
Yes you can make a second pledge Ross.
Answered on 01-09-2015 by Pete Russell
Can a pledge be made for less than $500, or is this an absolute minimum.
Posted on 01-09-2015 by Richard BromleyHi Richard. We have set $500 as the minimum due to the administrative costs of issuing and maintaining share allocations.
Answered on 01-09-2015 by Pete Russell
Hi, what is this story if I need to, at a later date, sell the shares? How is this achieved?
Posted on 01-09-2015 by [email protected]Good morning Monique. You can sell the shares at a later date and we can process the transfer for you. At this point in time there is no secondary market established to advertise the sale of your shares so finding a buyer at this stage would be a matter of offering your shares for sale through your own networks. We could also possibly let the other shareholders know that your shares are available for purchase and put you in touch with anyone who may be interested. There is a likelihood of a secondary market opening up in the next few years which would allow shareholders to list shares for sale, but that service is not available at present.
Answered on 01-09-2015 by Pete Russell
Hi there, I am pledging from the UK. Is it OK for me to do that, or is this restricted to NZ residents only?
Thanks, John Mortimer
Hi John. It's a bit of a grey area. You really need to take legal advice and we also need to take further advice before I can offer a clearer answer. It comes down to financial markets regulations. Stay tuned.
Answered on 31-08-2015 by Pete Russell
Pledgers 155
22/09/2015 at 1:41am
20/09/2015 at 10:09am
19/09/2015 at 3:24pm
19/09/2015 at 8:54am
"Go Ooooby."
19/09/2015 at 8:23am
18/09/2015 at 7:58pm
"I think this is a wonderful concept and I fully support it."
16/09/2015 at 4:03pm
16/09/2015 at 9:38am
"All the best!"
16/09/2015 at 6:11am
"Great concept we look forward to being involved"
15/09/2015 at 10:20am
14/09/2015 at 5:29pm
14/09/2015 at 8:28am
11/09/2015 at 10:18pm
11/09/2015 at 9:36pm
11/09/2015 at 11:02am
10/09/2015 at 10:25pm
"I wish this business the utmost success and so I hope that the 'seeds' they have planted will grow and match the wonderful they distribute."
10/09/2015 at 8:30pm
10/09/2015 at 3:27pm
"Brilliant idea in a country with a market that would prefer fresh local produce over corporate/processed/imported foods."
10/09/2015 at 11:30am
10/09/2015 at 11:28am
10/09/2015 at 11:16am
"This is how all businesses should run."
10/09/2015 at 8:44am
08/09/2015 at 9:56pm
"Great stuff Ooooby! "
08/09/2015 at 8:54pm
08/09/2015 at 6:56pm
"will be great to see how things pan out in the BOP"
08/09/2015 at 11:37am
"Been great working alongside a superb team that are mixing tradition with innovation"
08/09/2015 at 7:43am
07/09/2015 at 10:14pm
07/09/2015 at 12:08pm
Ooooby Limited
We have spent five years building the systems, know-how and software that allows for local teams to setup an Ooooby Hub. It is time to add to our systems, infrastructure and team to allow for more communities to buy and sell locally using our Ooooby platform.
We are not your standard business. Our primary purpose is to rebuild local food economies.
Founded in 2010 in the backyards of Auckland through the realisation and understanding that the world's globalised food structure was failing us at a local level.
Ooooby's founders and core team are serious about putting mission before money.
90% of the founders shares have been transferred to the Ooooby Foundation, a not-for-profit trust with the primary purpose of rebuilding our local food systems. This way a large proportion of any profits will be channelled back into tackling the issues around food systems instead of personally profitting.
Ooooby provides software that connects growers and creators of local food with buyers in the form of a weekly subscription.
Oooby Limited owns the software used by all Hubs who pay an 8% licensing fee based on total sales made through the platform.
Local Hubs are setup and managed locally with the use of our platform.
We have chosen licensing for hubs outside of Auckland rather than a company-owned model because local food systems need to be owned by the local communities and run by local people.
This model and ethos means the range of communities a Hub can sustainably operate is significant.
We have already coordinated the delivery of more than 70,000 boxes of fresh local food to more than 5,000 happy customers from four hubs in three countries (NZ, Australia, and USA).
Sales across the Ooooby network are in excess of $1 million in the past four months. We are beginning to make a real impact.
What's different about the Ooooby model?
Our model is lean. This means our market isn't just major cities, Ooooby can operate anywhere that has more than 150 households who want local food delivered weekly to their door.
We are offering a minimum of $200,000 and a maximum of $800,000 investor shares at $1 each in Ooooby Limited. There is a minimum purchase of 500 shares per shareholder. These are non-voting shares (with very limited exceptions). Any dividends paid on investor shares will not be unrestricted cash dividends- see "What is different about the Ooooby share offer" below for more details. This information is a summary of the offer only - please refer to the Information Memorandum for full information and terms & conditions. By accepting this offer you'll be bound by the terms & conditions in this Information Memorandum.
We have valued Ooooby Limited at $8 million before this offer. This is based on a five times projected revenue for the current financial year (ending 31 March 2016). For more information on methodologies used and assumptions refer to page 32 of our Information Memorandum.
Ooooby Shareholding
What is different about the Ooooby share offer?
- 90% of company's shareholding is now owned by the Ooooby Foundation, a not-for-profit trust committed to using any of its realised profits from Ooooby Limited in ways that help rebuild our local food systems.
- The Ooooby Foundation shares carry full voting rights. Investor shares are non-voting shares (with very limited exceptions). The founders hold investor shares.
- Any dividends paid on investor shares will not be unrestricted cash dividends. Rather they must be used for local food projects (e.g. conversion into Ooooby store vouchers, put towards a local school food growing project). See Schedule 3 of the constitution and page 15 of the Information Memorandum for full details..
About our Team
The Ooooby team has developed organically over the last five years allowing for well-established working relationships, a healthy team culture and a well-rounded complement of skills, talents and expertise.
Pete Russell - Founder and CEO (Director)
Pete is a passionate and driven entrepreneur with more than 12 years experience running food enterprises across manufacture, wholesale, distribution and retail. Pete draws the team together and provides the constant push for innovation, quality improvements and continued growth.
Davy van de Vusse (BE Hons I) - CTO (Director)
Davy is chief engineer of the Ooooby software platform. With a background building functional and effective business software, Davy has built up years of experience in how to architect efficient food distribution and logistics software.
Nick Pinchin FCA (ICAEW) - CFO
Nick is our top-level numbers guy with wide experience in senior financial roles within small and medium- sized business in both the UK and NZ. Nick oversees all our financial activity on a day to day basis, helps to shape our business strategies and provides critical insights for executive decision making.
James Samuel - New Hub Development
James brings deep experience in community engagement. An educator with diverse experience in online software, James is setting up the online learning tools to support the establishment of new hubs. Past projects include Transition Towns Aotearoa, Food Forest NZ, and food production education tours.
Daphne Gehrels - New Hub Training & Support
Daphne has a background in Organisation Studies and Sociology. She started working for Ooooby in Sydney as Customer Happiness representative, then moved to New Zealand to set up the new Waikato Hub and help run the Auckland hub. She has extensive experience with all Ooooby operations and will use her knowledge to support new hubs.
Tim Huston - Marketing
While Tim’s a relative newbie to Ooooby, he has spent the last 25 years working in the digital marketing, advertising and communications game in both NZ and Australia. Tim’s focus at Ooooby is on developing marketing strategies that bring on new customers and keep hold of the existing ones.
What we've done so far
- 5 years of operation
- 70,000 boxes delivered (to 5,000 customers)
- 35 growers and 40 artisan suppliers
- 3 countries with operational hubs
- 15 fulltime equivalent staff currently
- 6,000 members on our food growers network
- Finalist in the Deloitte Rising Stars
- $20,000 of food donated by our customers to Auckland City Mission
- 900 expresssions of interest in New Zealand outside of current delivery areas and 1,300 around the world.
- 109 customers who have received over 100 Ooooby boxes.
- 90% of our customers have rated our service betwen 7 and 10 out of 10.
What's next?
Our focus will be around two key elements: People and Software. This will allow us to better help current hubs as well as work with new communities interested in setting up hubs in their own backyards.
We have teams already working with us to begin setting up new hubs in
- Bay of Plenty
- Palmerston North
- Kapiti Coast
- Christchurch
- Yorkshire (UK)
Beyond this we have received interest and been connected into communities throughout NZ, part of Australia and more of California.
Finally, with a full raise we will look to expand the range of offerings in Auckland by adding infrastructure and chilled delivery options.
Risks and Challenges
Note from PledgeMe
We have completed a Veda check on the company and their directors, as well as a Google check. There were no adverse findings.
You need to pledge to see this update.
You need to pledge to see this update.
It's simple maths
13/09/2015 at 2:44 PM
Invest $500 and receive a 5% discount on your groceries. At $50 grocery spend per week you save $130 per year. This means your investment has paid itself back in less than 4 years and then you have an ongoing saving of 5% on your groceries.
Of course, if you spend more than $50 per week on your groceries with Ooooby then your payback will be sooner.
You are also entitled to dividends when they become available which you can use to further reduce your cost of groceries. And most of all, you are helping to build a better food system.
Offer closes 8pm 29th September.
You need to pledge to see this update.
You need to pledge to see this update.
You need to pledge to see this update.
We're off to a solid start!
01/09/2015 at 3:50 PM
A massive thanks to the 39 people who have invested over $50,000 in the first 24 hours. We're already 25% toward our minimum target!
The Ooooby Investor evening at at AUT last night was a great success with lots of excellent questions coming from the audience. We're looking forward to our talks in Tauranga, Palmerston North, Wellington and Christchurch over the next few days. Here's the schedule of events.
Offer Details
Current Valuation | 8,000,000 |
Raise Minimum | 200,000 |
Raise Maximum | 800,000 |
Share Price | 1.00 |
Minimum Pledge | 500.00 |
Maximum Shares Offered | 800,000 |
Explanation of valuation:
We applied a 5 times projected revenue for current financial year as one approach. We also benchmarked against similar businesses using a value to earnings ratio.
Rights attached to these shares
The shares on offer are investor shares. These are non-voting shares, except in very limited circumstances. This ensures that shareholders’ core rights are protected and gives shareholders the right to one vote on a proposal or resolution:
- That would affect the rights attached to the investor shares;
- To put the company into liquidation;
- For the disposal of the whole, or a material part, of the property, business and undertaking of Ooooby Limited.
Investor shares will give the holders:
- The right to an equal share in dividends and other distributions made by Ooooby Limited (subject to the rights of any other class of share);
- The right to an equal share in the distribution of surplus assets of Ooooby Ltd.
Investor shares do not give shareholders any rights to vote on the appointment or removal of directors. We recommend that you read our constitution for other terms that will apply to any shareholding in Ooooby Ltd. The constitution is available with this offer.
Any dividends paid on investor shares will not be unrestricted cash dividends. Rather they must be used for local food projects (e.g. conversion into Ooooby store vouchers, put towards a local school food growing project). See Schedule 3 of the constitution and page 15 of the Information Memorandum for full details.
The following financial information is based on Ooooby's Gold projections. Full projections can be found on page 25 of the Information Memorandum.
Financial Summary
Prev Year | Current Year | Est. FY 2026 | Est. FY 2027 | |
---|---|---|---|---|
Revenue | NZ $788,000 | NZ $1,562,000 | NZ $3,086,000 | NZ $5,033,000 |
Operating Expenses | NZ $823,000 | NZ $1,752,000 | NZ $3,498,000 | NZ $4,931,000 |
EBITDA | -NZ $36,000 | -NZ $190,000 | -NZ $412,000 | NZ $102,000 |
Net Profit | -NZ $46,000 | -NZ $230,000 | -NZ $424,000 | NZ $91,000 |
Company Details
Company Name: Ooooby Ltd (registered as OOOOBY LIMITED)
Company Number: 9429031660853
Companies Office URL: https://www.business.govt.nz/companies/app/ui/pages/companies/2407277
Incorporation Date: 18 Feb 2010
Company Status: Registered
Entity Type: Registered
Constitution Filed: Yes
Annual Return Filing Month: July, last filed 06 Jul 2015
Addresses:
Registered Office |
182 Awaawaroa Road Rd 1 Waiheke Island |
Address for Service |
182 Awaawaroa Road Rd 1 Waiheke Island |
Company Documents
Director Details
Name | Role | Profile URL | Invested? |
---|---|---|---|
Pete Russell | Founder / CEO | https://www.linkedin.com/profile/view?id=12453702&authType=NAME_SEARCH&authToken=HAoK&locale=en_US&trk=tyah&trkInfo=clickedVertical%3Amynetwork%2CclickedEntityId%3A12453702%2CauthType%3ANAME_SEARCH%2Cidx%3A1-1-1%2CtarId%3A1440979635508%2Ctas%3Apete%20rus | ✔ |
Davy van de Vuss | CTO | https://nz.linkedin.com/in/davyvandevusse | ✔ |
Hi, I went to the Ooooby website, I don't see the option for direct debit for payment. When will the pledger get investor perks eg. 7.5% Promo code?
Posted on 13-10-2015 by SM AngHi SM. As an investor you will automatically be eligible for your discount as long as the email you provided with your pledge matches the email you use for your Ooooby account. If you would like to make your payment via direct debit then please send an email to [email protected] and this can be arranged for you.
Answered on 14-10-2015 by Pete Russell
HI there
I am new to this, What does this mean:
Equity Offer:
From $200,000 for 2.4%
Up to $800,000 for 9.1%
I know about the minimum $200,000 and the maximum $800,000 but I do not get what the 2.4% and 9.1% respectively connote? and what difference does this make as far as the investor is concerned please?
Kynsley
Posted on 10-09-2015 by KynsleyHi Kynsley
The % refers to the portion of the company that is on offer depending on the raise amount. For example, if we raise $200,000 then the investors in this round would collectively own 2.4% of the company. If we raise $800,000 then the investors in this round would collectively own 9.1% of the company. The difference between the two levels of investment to an investor is a slight decrease in your % of the total pie as more shares are sold. However we will also have more resources to help make a bigger pie.
Answered on 10-09-2015 by Pete Russell
Hi. Can you please explain more about the processing for setting up additional hubs ? Specifically operator requirements (who? what they need?) and grower sourcing/customer finding (is the operator responsible for this, do you share this task?)
Regards, Scott
Hi Scott. The first step in setting up a new hub is identifying the right person to be the custodian in their local area. This person is then responsible for recruiting growers and artisan suppliers, setting up a facility to operate from, learning the operating systems and software, recruiting managers, packers and drivers and recruiting customers. Ooooby provides guidance and coaching throughout this process.
Answered on 08-09-2015 by Pete Russell
I understand $500 is a minimum at this stage but if the rules change can you keep a record of my name - I'd like to pledge $100. Karen.
Posted on 05-09-2015 by Karen MayHello Karen, Thank you for your offer to pledge $100. Now that the minimum limit has been set for this offer we can't change it unfortunately. Another option could be for you to donate to the Ooooby Foundation as there is no minimum required for that, however you would not receive shares for your donation. Thanks again for your support. - Pete
Answered on 05-09-2015 by Pete Russell
Hi,
If I make a pledge now am I able to increase that pledge or make a second pledge later on (before the 29/9 or they are fully allocated)?
Yes you can make a second pledge Ross.
Answered on 01-09-2015 by Pete Russell
Can a pledge be made for less than $500, or is this an absolute minimum.
Posted on 01-09-2015 by Richard BromleyHi Richard. We have set $500 as the minimum due to the administrative costs of issuing and maintaining share allocations.
Answered on 01-09-2015 by Pete Russell
Hi, what is this story if I need to, at a later date, sell the shares? How is this achieved?
Posted on 01-09-2015 by [email protected]Good morning Monique. You can sell the shares at a later date and we can process the transfer for you. At this point in time there is no secondary market established to advertise the sale of your shares so finding a buyer at this stage would be a matter of offering your shares for sale through your own networks. We could also possibly let the other shareholders know that your shares are available for purchase and put you in touch with anyone who may be interested. There is a likelihood of a secondary market opening up in the next few years which would allow shareholders to list shares for sale, but that service is not available at present.
Answered on 01-09-2015 by Pete Russell
Hi there, I am pledging from the UK. Is it OK for me to do that, or is this restricted to NZ residents only?
Thanks, John Mortimer
Hi John. It's a bit of a grey area. You really need to take legal advice and we also need to take further advice before I can offer a clearer answer. It comes down to financial markets regulations. Stay tuned.
Answered on 31-08-2015 by Pete Russell
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