MIME

Neutral
BETA

Tool to increase conversions and reduce returns for the beauty industry

Analytics

Raised to Date: $4,000

Aggregate Commitments $
Platform

SeedInvest

Start Date

01/08/2021

Close Date

03/19/2021

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$1,000

Security Type

Convertible Note

Funding Type

RegCF / RegD 506(C)

Series

Seed

Valuation Cap

$7,000,000

Discount Rate

20%

Weekly Commitments $
Status

Active

Reporting Date

01/20/2021

Days Remaining

54

% of Min. Goal

16%

% of Max. Goal

0%

Likelihood of Max
Avg. Daily Raise

$333

Momentum
Location

Vancouver, Washington

Industry

Beauty & Personal Care

Tech Sector

FashionTech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Business Type

High Growth

MIME, with a valuation cap of $7 million, is raising crowdfunding on SeedInvest. The company has developed an artificial intelligence-powered platform to match perfect makeup color based on skin tones. The first product of MIME is a foundation shade finder that asks shoppers a few questions, asks them to upload a photo of their face, and matches the foundation shade to the skin color. Chris Merkle founded MIME in 2016 and raised $600,000 in the pre-seed round of funding in 2019. The proceeds of the current crowdfunding round, with a minimum goal of $25,000 and a maximum goal of $1,070,000, will be used towards operations, salaries, sales and marketing, and intellectual property. MIME increased the foundation purchase rate of an online beauty retailer by five times in a 20-day period. The shade finder technology has achieved an almost 70% shade satisfaction rate.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-159,640

$-34,959

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$223,646

$165,304

Accounts Receivable

$0

$0

Total Assets

$418,065

$183,215

Short-Term Debt

$316,949

$67,459

Long-Term Debt

$345,000

$0

Total Liabilities

$661,949

$267,459

Ratings

last updated 01/24/2021

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