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CanIDeal Status Update: 6/25 – 6/29
June 28, 2018
As we announced last week, CanIDeal will be rolling out weekly status updates, both on our blog and via email blasts, as we approach our highly anticipated launch (you can subscribe to our newsletter here). We’ve got some great news this week, so let’s just cut right to the chase:
- We have closed the vendor round for investment, meaning that we have raised enough money to go live in about 4-6 weeks. That’s right! Vendors can start creating accounts, uploading their content, and securing their place in the system as we continue to build the buyer side of the software. This is a huge step for all CanIDeal stakeholders, especially for our early-stage investors who will begin to see the ripening fruit of their investment.
- BDS Analytics, the top name in cannabis company valuations according to Forbes, Motley Fool, NY Times, etc., is projecting a $50 million revenue stream for CanIDeal by year five! And remember, our revenue is only a fraction of our worth. CanIDeal’s data stream collection and ability to launch into ancillary markets adds considerably more value to our business model.
- Since we currently have 15 million units, that puts the current value of each unit at a very attractive $3.33. Hello, private placement! Therefore, as we say goodbye to the vendor round build and CanIDeal’s unit value increases, we’re going to transition from the convertible note to private placement, which can be found at www.invest.canideal.com. Inside the portal, you’ll find everything required to invest, including the executive summary, the PPM , sub documents and accredited investor paperwork. The investment process, including the signing of all documents, can now be fully completed online. CanIDeal’s private placement is a great deal because we currently have it set at $2 per unit while we gather the materials to support a new private round for $2.75 per unit, which is a 60 cent discount off of our actual value. Of course, the $2 round is a whopping $1.33 discount and will only be available while we prep for the next round, so we encourage investors to take advantage while they can!
Things are going great for CanIDeal! More and more investors are hopping on board, and we are getting closer to launching each day. Stay tuned for more weekly blog updates as we release them, and sign up to receive more information from the CanIDeal team!