Plei is raising funds through a SAFE (Simple Agreement for Future Equity) with a valuation cap of $20 million. This valuation cap represents a multiple of 4.44 times the company’s annual revenue of $4.5 million. The valuation cap means the maximum valuation at which the investment made in this round converts into equity. Investors in this round also receive a 20% discount on the price per share at the conversion time.

Given the company’s impressive growth in revenue, with a year-on-year growth rate of 166.16%, and the fact that it has already captured a sizeable portion of the US pickup soccer market with 180,000+ soccer players on its platform, the valuation cap seems reasonable. Additionally, the company is profitable, further adding to the attractiveness of this valuation.

For exit potential, for investors to achieve a 10X return (not accounting for dilution), Plei would need to be acquired or go public at a valuation of at least $200 million. This is undoubtedly achievable, considering the company’s growth trajectory and the addressable market’s size. However, it would require the company to maintain its current growth rate and possibly expand its offerings to capture a larger market share.

The United States pickup soccer market, which Plei operates within, is currently valued at $4 billion. Plei’s market is characterized by low regulation and a limited competitive landscape. This allows the company to operate easily and face little competition in its niche space. However, it’s important to note that while Plei’s current market potential is considered low, this is relative to the more extensive fitness and wellness industry. Plei’s recent market dominance could still translate to significant growth and profitability as a niche service within this industry.

Plei’s current market position is vital due to its unique product offering, high market acceptance, and lack of competition in the US pickup soccer market. With a growing user base and the increasing popularity of soccer in the United States, Plei is well-positioned for future growth.

Plei has demonstrated impressive performance in the pickup soccer market. The company has positioned itself as the largest pickup soccer platform and organizer in the United States, with over 180,000 soccer players on its platform and hosting more than 40,000 games as of August 2023. This significant user base highlights Plei’s success in attracting soccer enthusiasts and creating a thriving community for players of all skill levels.

In terms of financial performance, Plei has achieved profitability, with one year of profitable operations. The company reported an annual revenue of $1,690,689 in the most recent fiscal year, representing a remarkable growth rate of 114.88% since the last round of funding. This revenue growth strongly indicates Plei’s ability to generate income and capitalize on the growing market demand for on-demand soccer games.

Plei’s revenue primarily comes from recurring sources, indicating a stable and sustainable revenue model. Additionally, the company has experienced high growth in both its user base and revenue since the last funding round, reflecting the effectiveness of its business strategies and the increasing popularity of its app.

Plei is the most significant pickup soccer platform and organizer in the United States, offering on-demand play anywhere, anytime soccer games through its app. The company has successfully created a platform that caters to soccer enthusiasts of all skill levels, allowing them to join games in their city quickly. Plei takes care of all the logistics, ensuring that each match is an engaging and exciting experience for its users.

One key factor differentiating Plei from its competitors is its impressive user base and track record. With over 180,000 soccer players on its platform and hosting over 40,000 games as of August 2023, Plei has established itself as the go-to platform for pickup soccer in the United States. These numbers demonstrate the company’s strong traction and popularity among soccer enthusiasts.

Plei’s differentiation level in terms of quality is high. The company’s focus on providing an exceptional user experience and managing all game logistics sets it apart from other solutions in the market. By taking care of the organizational aspects, Plei ensures that players can enjoy their soccer matches without hassle.

Plei was founded by brothers Sebastian Duque and Alejandro Duque. Sebastian serves as the CEO of Plei and has been involved in the development and growth of the company since its inception. Alejandro, the COO, is a first-time founder but has been dedicated to the success of Plei. Together, they have built Plei into the largest pickup soccer platform and organizer in the United States.

The Plei team consists of 25 members who are passionate about soccer and dedicated to providing an exceptional experience for players. The team has experienced high growth since the last funding round, indicating a strong commitment to expanding the business.

With the Duque brothers’ leadership and the Plei team’s dedication, the company is well-positioned to continue its growth trajectory and solidify its position as a leading platform in the US pickup soccer market.

Plei presents a relatively de-risked investment opportunity. The company has achieved profitability and has a solid user base, with over 180,000 soccer players on its platform and hosting over 40,000 games. Plei is well-positioned in the US pickup soccer market and is the country’s largest pickup soccer platform and organizer. The company’s revenue growth is also impressive, with a 114.88% increase in annual revenue from the prior fiscal year. Plei’s innovative app handles all the logistics of the game, providing a seamless and engaging user experience.

While the competitive landscape is not currently intense, there is a risk of new competitors entering the market and challenging Plei’s position as the leader in the space.

Overall, Plei presents a promising investment opportunity with its established user base, revenue growth, and unique value proposition in the pickup soccer market. However, investors should carefully evaluate the company’s valuation and monitor potential competition in the future.

Plei has positioned itself as the leading pickup soccer platform in the United States, offering a unique and convenient solution for soccer enthusiasts. With its on-demand play anywhere, anytime soccer app, Plei has disrupted the traditional pickup soccer experience by streamlining game logistics and creating an engaging environment for players of all skill levels.

Plei has achieved impressive growth, boasting over 180,000 soccer players on its platform and hosting over 40,000 games as of August 2023. The company’s revenue growth has been substantial, with $4.5 million in revenue generated in 2023, representing a remarkable growth rate of 166%. This strong revenue growth demonstrates the growing demand for Plei’s services and the effectiveness of its business model.

One of Plei’s key strengths is its ability to capitalize on the increasing popularity of soccer in the United States. The pickup soccer market presents a significant addressable market for Plei, and the company has positioned itself as the go-to platform for organizing and participating in pickup soccer games. This market positioning, combined with Plei’s robust user base and successful revenue generation, sets the stage for continued growth and expansion.

Plei can scale its operations further, expand its user base, and solidify its position as the leading pickup soccer platform in the United States. The current crowdfunding campaign on Republic allows Plei to secure additional funding, which can be utilized for staffing, marketing, travel, and research and development initiatives. With its strong market presence, revenue growth, and dedicated team, Plei is well-positioned for continued success and a bright future in the pickup soccer market.

Despite Plei’s impressive achievements, several reasons suggest caution in investing. One primary concern is the low entry barrier in the industry. The concept of organizing local soccer games through an app is not intellectually protected, meaning any other company can easily replicate Plei’s business model. This could potentially lead to an influx of competition, threatening Plei’s market share. Even though Plei claims that the market is not competitive, the lack of a patent could expose the company to potential competition in the future.

Additionally, while the company has achieved profitability, its net income is relatively low at $17,437. Considering the company’s valuation, potential investors may question whether they can reach an adequate return on their investment.

Finally, the company’s low margin level could concern potential investors. This could limit the company’s ability to invest in growth or weather any future financial difficulties.

Plei is a unique platform that allows soccer enthusiasts to join and play games in their city anytime. The company’s app handles all game logistics, ensuring an engaging and exciting experience for all participants. Plei has positioned itself as the largest pickup soccer platform and organizer in the United States, boasting over 180,000 soccer players and hosting over 40,000 games as of August 2023.

The company has shown impressive growth, with annual revenue reaching $4.5 million, marking a significant increase of 166.16% in revenue growth. Plei also reported a net income of $17,437 in the most recent fiscal year-end, indicating that the company is profitable. This growth is awe-inspiring, given the US pickup soccer market’s low market potential and competitive landscape.

The company plans to use the campaign proceeds for staffing, marketing, travel, and R&D, which could potentially enhance its offerings and increase its market share.

After conducting thorough due diligence and engaging in extensive discussions with the Plei founding team, KingsCrowd Capital is excited to announce our commitment to the current funding round. Plei’s innovative field management software for pickup soccer logistics presents a compelling opportunity for our team to enter a burgeoning market.

Already operational in 16 U.S. cities, Plei’s pickup soccer service has demonstrated robust and consistently growing demand. Given the clear establishment of interest from both players and facilities, the potential for further expansion particularly intrigues us about the company. Founder Sebastian Duque highlighted that Plei can seamlessly enter a new city within weeks. This agility is crucial, considering the ample untapped U.S. market awaiting the company’s capture. Notably, the low customer acquisition cost of just $2 makes expansion swift and cost-effective.

Plei is not new to the online private markets; we previously rated the company a “Top Deal” in 2020. At its initial fundraising, Plei was valued at $10 million with $18,000 in revenues. Fast forward to the most recent fiscal year, and Plei boasts an impressive $1.6 million in revenue, projecting a closing figure of $4.5 million for 2023. Given the revenues and traction, the current valuation of $20 million is justified. This consistent and substantial growth observed over the past three years further solidifies our confidence in the Plei team.

Moreover, the timing is opportune for Plei’s success. With the World Cup scheduled in the United States in 2026, interest in soccer is expected to surge. Plei has demonstrated resilience during challenging times, navigating through the uncertainties of the pandemic and broader macroeconomic downturns. The upcoming World Cup exposure serves as a significant market driver, and we anticipate it will catalyze Plei’s growth, surpassing the achievements of previous years. The alignment of Plei’s value proposition with the growing enthusiasm for soccer positions the company for substantial success in the coming years.