Loveseat.com

Early Stage

The Amazon of Vintage Furniture.

Analytics

Raised to Date: Raised: $179,902

Aggregate Commitments $

Platform

Wefunder

Start Date

11/29/2017

Close Date

04/30/2018

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Valuation Cap

$8,000,000

Discount Rate

0%

Rolling Commitments $

Status
Funded
Reporting Date

05/06/2018

Days Remaining
Funded
% of Min. Goal

360%

% of Max. Goal

17%

Likelihood of Max
Funded
Avg. Daily Raise

$1,184

# of Investors

170

Momentum
Funded
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Location

San Diego, California

Industry

Consumer Products, Goods & Services

Tech Sector

Vintage furniture is a hot commodity these days. The problem, though, is that finding those amazing vintage pieces can be difficult, frustrating, and time-consuming.

Or it was -- until Loveseat came along! Loveseat offers customers the chance to buy high-quality vintage furniture at affordable prices through a unique hybrid combination of online and offline shopping. No longer do you have to sort through dusty thrift stores or be scared to meet your Craigslist vendor. With Loveseat, you can easily purchase your vintage furniture directly online, or you can shop in one of their warehouses to try the item out, and then have it delivered. Voila!

Right now, Loveseat is only serving the Southern California area, and they have two warehouses in San Diego and Los Angeles. They buy local pieces to help keep delivery costs low and furniture prices affordable. Their “Loveseat operating system” keeps everything up-to-date, so the second a piece is sold, it’s marked and removed from the online platform or stores. It also means that all of their inventory is always available online and synced in real time.

Their average monthly revenue for the past three months has been over $200,000, and their quarterly revenues have grown 17.5x in the last two years. Loveseat is ranked #1 on Yelp in both L.A. and San Diego, and they sell thousands of pieces monthly. In fact, they’re able to sell every piece of furniture they buy within 40-50 days, while capturing approximately 70% product margin.

Loveseat aims to become the Amazon of vintage furniture and spread nationally, helping millions combine the luxury of modern day shopping with the quality furniture of yesteryear. The two cofounders both graduated from Wharton Business School and are successful entrepreneurs with multiple successful exits from companies like Venmo. Add in the fact that the vintage furniture market is valued at $10 billion, but feels old and dusty, and you realize Loveseat just might be the shiny, new solution that helps people find the vintage furniture they’ve been looking for… with a modern shopping twist.

“Who Should Be Interested in This Offer:”
Do you love unique furniture from the past and adore vintage decor? Do you own an estate sale company and want to work with a company that consistently buys your furniture, which can be the hardest pieces to sell? If these sounds like you, then Loveseat might be the solution for you. With their unique hybrid selling technique that combines online and warehouse shopping, and their high-quality, affordable vintage pieces, Loveseat is a modern company with all the lustre of yesteryear. In fact….they might be just the investment you’ve been waiting for.
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Loveseat.com 12/09/2019 Wefunder $7,000,000 $242,847 SAFE Funded RegCF
Loveseat.com 04/30/2018 Wefunder $8,000,000 $179,902 SAFE Funded RegCF
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Loveseat on Wefunder
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Platform: Wefunder
Security Type: SAFE
Valuation: $8,000,000
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