Date: 2024-05-13 Page is: DBtxt003.php txt00016768
Initiative
KIDCOIN
An Update & Letter From Kidcoin - Plus A Product Demo 😁
Peter Burgess
An Update From Our Founder
Dear Peter,
We are just a bit over one year into this journey, and I thought it a good time to give you all an overview of where we stand. First off, a Token of Gratitude (literally and figuratively) to all of those who participated in our Private Sale. You will be granted equity, corresponding to your investment amount, in addition to being able to hold onto your Kidcoin utility tokens, as well as provided an option for an 'Early Exit' if you so choose. Please contact me directly if you are in this boat and want to explore these options further.
Meanwhile, we have been quiet on the forefront because that's what happens when you are building a product as a bootstrapped startup! All of our resources have gone into product development, so that the true utility of Kidcoin could be manifested and begin helping kids and families around the world. We're almost there - aiming now at a Late Summer / Early Fall 2019 launch, that ought to sync up well with the 'Back to School' vibe.
Some other key updates are laid out below; scan through to get the pulse, and as always, my door is open to questions:
A Quick Recap
Kidcoin got started in late 2017 by acquiring a two decade old online Registered Investment Advisor (RIA), the first of its kind for the college savings industry, 401kid; giving Kidcoin years of relevant insights on millions of families and their financial challenges in relation to providing for their children.
Kidcoin is registered in Delaware and Cayman Islands, and going forward, we are likely to have touch points in other jurisdictions; whatever makes it easier, faster and safer to offer our product line to families around the world, we will do.
Kidcoin is seed funded by b.labs Ventures, a venture studio based in Jersey City, and a handful of Private Sale investors.
Today: What Have We Been Up To?
We have been in various stages of product development for the past 12 months; and we are now somewhere between 3-4 months away from launching our beta product, a blockchain based family finance platform, that will be among the first to introduce cryptocurrency in a safe, user friendly, gamified fashion to kids and their guardians. Our developers are kick-ass - 4ire, based in Kiev, Ukraine - and I highly endorse them! We are also building an in-house team to complement the development agency.
Based on the complexity and uncertainty of the regulatory climate, especially in the US, we have backed off the ICO and TGE track, and are only offering utility tokens to viable parents and families who are committed to utilizing Kidcoin within the platform, as a form of digital currency that develops financial literacy skills in young children, as early as 3 years old. Do you know 3 year olds that use tablets and mobile phones? Mine does, and he's not alone; the kid can already run circles around me on most apps that he is permitted to use.
Most of the original cast of characters, like myself, David Houle, Carmine Vona, Hendra Soetjahja, Davon Robinson, Justin Litchfield and Chris Henry, are still involved in the project. We've had one major exit in Regina Hartman, formerly COO - and wish her the best.
Product Demo
Check out some screen shots in this recent product demo video below: Kidcoin Demo Next Steps
The Kidcoin App's soft launch is anticipated within 2019, with Kidcoin Tokens available for purchase 30-45 days beforehand, for those who want to be ready to go once the App goes live on Apple/IOS and Android/Google Play.
There will be no ICO, KYC or any of that business. We hired an excellent independent lawyer (formerly with a big firm) who is crypto forward thinking; his name is Rich Gora, and he is as much of a strategic advisor as a lawyer to me.
We're bringing on a stellar PR firm to assist with the launch.
This Summer, we are opening up a formal round of traditional equity funding, targeting a raise of $500,000. Minimum investment in this round will be $25,000.
As noted, but worth repeating, any previous Private Sale investors, who all received Kidcoin tokens at $0.05, will now also receive equity for their original investments, in addition to being able to keep the discounted tokens for utilization within the platform once it launches - OR participate in an Early Exit, if they wish, once we complete the equity funding noted above.
March Forth!
Arman Rousta, Founder
Kidcoin | 150 Bay Street, Suite 718, Jersey City, NJ 07302
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