SkyPostal Inc.
SkyPostal Inc. helps non-U.S. residents shop on U.S. merchant websites by providing customers with a U.S. address and offering affordable international delivery.
Investment Date: May 17, 2010; May 19, 2011
Type of Investment: Senior Convertible Debt
Board Representation: Board Control
Funding Need: Build and expand SkyPostal's PuntoMio U.S. address business.
Investment Overview:
- Market Need: 90% of U.S. online merchants do not ship to Latin America, one of the world’s fastest-growing regions.
- Product Viability: Management’s prior business, SkyBox, successful; SkyPostal Inc. already a $10M/year business.
Investment Highlights:
- Experienced management
- AJ and Albert Hernandez pioneered this business model, selling their previous company, SkyBox, to Lan Chile Airlines in 2004
- Proven business model
- Growth from 4,000 to 29,000 box holders in one year
- Mitigated risk
- Customs licenses; established delivery network
- Board Control
- Multiple Exits
- Sell to large strategic buyer
- Existing public market: convert debt, sell stock
