The purpose of this meeting is to meet face-to-face with the company CEO and leadership in order to get an update on company progress since close.
Buderflys Tech, Inc is redefining the $30B, high-margin (80%) smart earphone/hearable industry, with their proprietary comfort technology (squishy design) & unparalleled hi-fidelity line of hearable/earbud products. Buderflys has an incredible strong and experienced team that is changing the fit, comfort level, and acoustical design for the industry, in order to seamlessly connect people who are listening to grow, share, learn, and be entertained with the mission to “own” the ears of the future.
Background: Buderflys Tech, Inc (C-Corp DE) spent the last three years developing - a proprietary comfort technology & pristine acoustical (listening, hearing, and talking) system; determining product market fit; unique/untapped go-to-market strategy; and building a strong team of experts in the industry.
Solved for the #1 complaint in the industry, FIT – Soreness/fallout/don’t fit at all—with our proprietary comfort technology system. As a result, our smart buds can be worn significantly longer than any other earbud on the mkt. In addition, the quality of our mechanical, speaker, and microphone system is equivalent to an $800 MSRP bud at Buderflys $200+ prince point.
TAM/SOM: We are redefining the $30B/high margin (80%) smart earbuds/hearable industry. BTI beachhead/SOM mkt is 600M.
Traction: Strategic partner that is a dominant player with 10x millions of loyal customers in our target market (under NDA), the brand's CEO is investing in Buderflys. A customer that is pre-ordering $3.5M worth of product prior to production/launch with them.
Stage: In the production-prototype stage and launching January 2020.
Biz Model: MSRP price point range from $210-$350. We have a 78% margin at scale.
Seed Round: Raising $750K for $3.3M pre-money valuation (priced). To date we have commitments/investments on $653K.
- Demo of production prototype and cable system (below is a quick 3D video of the final smart-bud)
- Update on Audible (we officially signed the deal!!!!!!). CEO’s investment fund (NVP) will come in when we hit $650K - we are so close.
- Marketing results on split test - messaging, positioning and target audience
- Brand update and Website launch (on Shopify)
- Overview of Ritual - the G2 smart bud will come with proprietary functionality (“Ritual”) that allows the user to tap to record quotes/sections of audio. BTI will translate audio to text, allowing users to then save, tag, organize, & share via BTI's mobile app. This sticky functionality will encourage repeat engagement with BTI's Brand and creating added and unique value to the BTI community of users.
- In process of filing 6 more patents
- Roadmap overview