🧵 The Spool - December 2023

Happy December! We have a great edition of The Spool in store for you today - it's a 6-minute read.

In December's edition:

• Meet Jordan Wexler, co-founder and CEO of EarlyBird 👨💼

• Exciting updates from our portfolio companies 💼

• Looking for a new job? We’ve got you covered 🧑💻

• A special thanks to you 🎁 

So let's dive in!

But First…

As we emerge from the haze of Black Friday and Cyber Monday sales and the deluge of emails, it’s important to look at the statistics that make up those days. Why? Some economists consider Black Friday and Cyber Monday an indicator of consumer confidence and consumers' likely future discretionary spending.

And this year didn’t disappoint. Adobe Analytics reported a record $9.8 billion in online Black Friday sales. That’s up 7.5% from 2022. Not to be outshined, consumers spent $12.4 billion on Cyber Monday, up 9.6% from last year.

With the spotlight on Black Friday and Cyber Monday, Small Business Saturday is often left behind in the headlines. American Express introduced Small Business Saturday in 2010 to help small businesses increase sales by inspiring consumers to shop within their own communities during the holiday season. In 2012, the first year data was released, consumers spent a healthy $5.5 billion on Small Business Saturday. This year, you ask?

We all spent a whopping $17 billion at independent retailers and restaurants on Small Business Saturday.

This got us thinking about the flywheel effect. The concept describes how a small initial effort, repeated over time, can build momentum and generate significant results in the long run through a positive feedback loop.

The Cashmere Fund’s flywheel has a few moving parts, but at the center of it is you. Our Members and Founders keep the flywheel turning.

You invest and refer family and friends, growing the community. We invest the capital into great portfolio companies, fueling their growth. Portfolio companies generate investment returns as they are acquired or go public. Finally, you choose what to do with your investment proceeds, either reinvesting investment proceeds or taking cash distributions.

But that's just the framework.

The wheel turns and builds momentum because you, our Members, influence portfolio company outcomes by purchasing, promoting, and championing our Founders and their startups.

And this holiday season, we want to remind you that you can champion Cashmere Fund portfolio companies by purchasing and promoting their products. And we’re here to help. The Sweater team has compiled our favorites in our Holiday Gift Guide.

Each item is hand-picked for its quality, uniqueness, and the story behind the brand from Cashmere Fund portfolio companies, including those invested in via Curate Capital and Ganas Ventures . You can shop the Holiday Gift Guide here.

A flywheel turns and gains momentum through your collective actions. Each of you has a pivotal role as you build this supportive ecosystem that we call The Sweater Community Flywheel.

Port Co’s in the Wild

News 🗞️

• Thrilled to share, EarlyBird announced their $4.5M Seed Extension. Congrats to Jordan Wexler, Caleb Frankel, and the entire EarlyBird team on this huge milestone, especially in a tough market for consumer fintech. Download the app today and use this link to get $15 when you launch an account!

• Congratulations to Accredible who ranked no. 232 on the 2023 Deloitte Technology Fast 500 for the second year in a row. The Deloitte Technology Fast 500 honors the most innovative and fastest-growing companies across North America. The program recognizes the passion and dedication it takes to be an industry disrupter across the technology, media, telecommunications, life sciences, fintech, and energy tech sectors.

• Round of applause to Cityfunds by Nada, which won the title for Best Alternative Investment Platform of 2023 at Benzinga's Awards in NY!

• Ready to hit the trails in style? Barnburner winner Hikerkind is having their biggest sale of the season, offering 50% off select styles. Check out the outdoor essentials here. Every exploration deserves the perfect attire. 

• Dealing with acne, fine lines, eczema, or other skin problems? Take Parallel Health’s Skin Discovery Test to unveil the right phage serum tailored just for you! For the next two weeks all bundles and plans are buy one, get one 50%. Woot woot! Click here to shop now, no promo code necessary. New year, new you.

Jobs 🚀

• Senior Software Engineer - Frontend at EarlyBird.

• Junior Accountant at Frances Valentine.

• Senior Digital Marketing Manager at Havenly.

• Analytics Engineer sourced from IsoTalent.

• Business Development Associate at Pear Suite.

• Performance Marketing and Affiliate Manager at Trellis.

Sweater, On-Demand 📖

Get your Sweater fix on-demand. To view our entire library of on-demand content, click here.

Founder Spotlight 🔎

Jordan Wexler, co-founder and CEO of EarlyBird, is on a mission to create an accessible way for all families to begin building wealth for their children and to do so with the support, love, and contributions of their broader communities.

Jordan graduated from Occidental College with a Bachelor of Arts in Psychology & Sociology, while actively leading the Entrepreneurship Club. A serial entrepreneur, he’s gained experience in product development, sales, program design, team management, and business growth as the former COO of Agility.IO and founder of SucceedOverseas & SocialSway. Jordan also co-founded Recovery Through Entrepreneurship (RTE), an organization that teaches digital literacy and entrepreneurial skills to ex-felons who are actively in residential drug rehabilitation centers to provide a path to recovery while reducing recidivism rates.

The idea for EarlyBird came to Jordan after the birth of his niece. He noticed he was buying expensive gifts she’d grow out of or lose interest in quickly - something many of us can relate to. So he started the Jordo Fun Fund and found just how challenging it can be to meaningfully invest on behalf of a child. He joined forces with his co-founder Caleb Frankel and decided to do something about it.

Over 4 years later and with a newly raised $4.5M Seed Extension, EarlyBird isn’t slowing down. Jordan plans to expand their community offerings as well as start to build out a dedicated experience for teens. His focus on early financial education will ensure every child with an EarlyBird account can turn 18 and feel confident making informed financial decisions.

Want to invest in EarlyBird and other innovative start ups? Click here to make your initial investment in the Cashmere Fund.

The Takeaway 💡

As we wrap up another incredible year, we wanted to take a moment to express our deepest gratitude to each and every one of you. Thank you for being an integral part of Sweater. Together, we are breaking down barriers to ensure all investors have access to wealth building opportunities.

As a thank you, we'd like to give you 20% off our online store so you can snag some Sweater gear. Click here and use code "Holiday20”.

Whether you've been with us from the beginning or joined recently, your presence has made a significant impact on the community. As we look ahead to the future, we are excited about the possibilities and innovations that await us, and we're thrilled to have you by our side on this journey.

Once again, thank you for being a part of our community. Wishing you a joyful holiday season and a fantastic year ahead!