Women-Owned Xero Shoes Pioneering new Fundraising Model
Broomfield, CO (PRWEB) April 24, 2017 -- Since its founding in 2010, Xero Shoes has sold over $7,000,000 worth of casual and performance shoes and sandals. To support its rapid growth, the Company just launched an equity crowdfunding campaign to raise up to $3,000,000 by selling up to 750,000 shares of its stock at $4/share.
Xero Shoes owner and co-founder, Lena Phoenix says, “The democratic idea behind crowdfunding made immediate sense to me. Rather than limiting investors to the wealthy, we want to open this opportunity to anyone, especially our customers. They helped put us where we are now, so they should have the opportunity to step into the future with us.”
Echoing the last point, Phoenix’s husband, CEO, and co-founder, Steven Sashen adds, “Imagine having an army of customers who are literally invested in the success of your brand. That’s what crowdfunding can give a company.”
Phoenix’s role expanded way beyond what she imagined when she and Sashen began selling DIY sandal making kits from a corner of a spare bedroom 7 years ago. Phoenix adds, “If you’d told me back then that I’d be spearheading an entirely new fundraising model while simultaneously serving as CFO and Chairwoman of the Board of a rapidly growing lifestyle footwear brand, I would have called you crazy.”
The couple thought Xero Shoes would just be a small hobby/business. But as the business grew rapidly, Phoenix’s financial and organizational skills became critical to its continued success, and she found herself stepping into a more active leadership role. “It’s been a huge stretch to grow into all the various roles running this company requires,” says Phoenix. “I’m an introverted person. I stayed in the background for as long as I could.”
Making the decision to utilize the Regulation A+ exemption of the JOBS Act of 2012 required a lot of advocacy on Phoenix’s part. Many on Xero Shoes’ team, including their legal counsel, tried to talk her out of it. “Fortunately, I’ve gotten good at arguing my point in the last few years,” says Phoenix, “and was able to help people understand the value of equity crowdfunding for both the financial and marketing sides of the business.”
Preparing for equity crowfunding proved more challenging that Phoenix imagined. It took more than eight months for the company prepare its offering and become qualified by the SEC under the Regulation A+. “It was a mountain of work, and required navigating through laws that were constantly changing,” she says, “but one of marks of an entrepreneur is walking into the unknown every day and solving the problems that present themselves.”
Xero Shoes’ crowdfunding campaign is at https://invest.xeroshoes.com
This is not an offer to buy or sell securities. Any securities offered are qualified in their entirety by and subject to the terms of the Offering Circular, which can be found at https://www.sec.gov/Archives/edgar/data/1690455/000106299317001033/offeringcircularx.htm. Investing in shares of Feel the World, Inc. is highly speculative involves significant risks and is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the shares of Feel the World, Inc, and if a public market develops following this offering, it may not continue. Also, past performance should not be relied upon as a forecast of future performance. To obtain a copy of the Offering Circular, go to https://invest.xeroshoes.com/#deal_room or https://www.sec.gov/Archives/edgar/data/1690455/000106299317001033/offeringcircularx.htm or https://invest.xeroshoes.com/en/projects/4285-Invest-in-Xero-Shoes?tab=deal_room to download directly.
Nicole Junas Ravlin, PMG PR, +1 (802) 448-5513, [email protected]
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