Tag Archives: investment
Ex-NFL football players Dorsey Levens and Kyle Turley are on a mission.
They are tackling football’s concussion issue through music and a documentary film respectively. In an effort to raise awareness and financial resources for their respective projects, they are the first professional athletes to use Indiegogo’s icrowdfunding platform.
Taking advantage of today’s technology, Turley “is using Indiegogo.com to support his upcoming country music album, ‘Skull Shaker,’ and to assist his tour to spread awareness of the long-term effects of concussions. As an independent artist, he is turning to crowdfunding to deeply engage with fans.”
Likewise Levens has opted for crowdfunding as an alternative “to engage sports fans in the creation of his documentary ‘Bell Rung,’ which paints a vivid warning of the effects of repeated head trauma. By offering fans personalized memorabilia and one-of-a-kind experiences, Levens and his team are confident his fan base will share in spreading the film’s urgent message. Funds gathered through the Indiegogo platform will be used to produce a more powerful and compelling film for viewers.”
If the word crowdfunding is new to your vocabulary, an explanation is in order. “Crowdfunding is the collective effort of individuals who network and pool their money to support efforts initiated by other people or organizations.” As an example, through “Indiegogo the HONY & Tumblr Hurricane Sandy Fundraiser generated three times their original goal, resulting in nearly $320,000 for the victims of Hurricane Sandy.”
Two-time All-Pro offensive tackle Turley, now turned country musician, lives in Nashville. “All proceeds from his single ‘Fortune and Pain’ have been going to the Gridiron Greats Association Fund, a non-profit organization dedicated to providing support for retired NFL players in need. With his new album, Turley will continue to be a prominent voice in the fight to raise concussion awareness throughout the sport of football.”
In Levens case, following his retirement, “he has become a strong advocate for concussion awareness and proponent for lifetime health insurance for professional football players of all ages. His documentary is currently 48 minutes, and he wants to expand it to 90 minutes in order to include some critical features on former athletes dealing with the debilitating affects of repeated head trauma.”
For both players, getting involved is their solution for making a contribution.
Yesterday, we reported that an investor on CBC’s show, the Dragons’ Den, had committed $350k for a 10 percent stake in the company. Now comes word from a Canadian newspaper, the Financial Post, that the investor, Jim Treliving, was pulling out.
During due diligence, Treliving reportedly became concerned about the valuation and the size of the potential market. “This is a situation where the equipment itself is not going to change anything; it is not going to stop concussions from happening,” he told the paper. “At the same time, the technology is not exclusive to them. The NFL is testing it, too. The further into due diligence we got, the smaller the market became. I think they should consider selling the company to a Jofa or Bauer.”
The paper went on to quote John Cho, partner with KPMG Enterprise, who said: “It’s timely in terms of all the concern around concussions but would people be willing to pay for it, especially if their kids are not playing competitively? The ideal market would be professional athletes, where the franchises want to protect their biggest assets. Right now they need to market this thing and convince consumers it’s worth spending $150 for this information device. But I’m not so sure I see the longtime viability and commercial appeal. To me the whole concussion thing is about education and teaching people what to do if they do get hit.”
A reality television show called the Dragon’s Den has sparked a $350,000 investment in the Shockbox.
Similar to Shark Tank, the Dragon’s Den is a showcase for entrepreneurs seeking investment in their product. On a recent show, one of the investors, Jim Treliving, reportedly bought 10 percent of the company. Treliving, owner of Boston Pizza and Mr. Lube, is a big-time hockey fan.
Parents of hockey players are a prime market for Shockbox, which provides a sensor attached to the helmet that reportedly measures the level of impact and whether it could have crossed the threshold to concussion. That information is then transmitted to an application that can be downloaded onto a smart phone.
CEO Danny Crossman, a former Army bomb disposal officer and Business Development executive, represented the company on the show.
He said prior to the show that the Shockbox is the “iPhone 5 of alert sensors. It is a must have for this Christmas season.”