Montreal, QC H3W 2C7, Canada
itCreations,, is a Montreal based company that has sold over 600 itBikes, mostly in the U.S. The company is planning to grow from $600,000 in 2017 to $4,500,000 in 2018. itCreations is raising $400,000 in equity and is offering a royalty bonus.
itBikes are high quality, innovative water bicycles that are a fun and healthy way to spend time on the water. itBike users are both young and old, male and female.
There are 3 major markets for the itBikes in the U.S:.
1) 3.5 million waterfront cottages in the U.S.
2) 45 million fishing enthusiasts who went fishing at least once in 2015.
3) Recreational users with no cottage – . itCreations will target this potentially very large market once the company is over $20 million in sales and much stronger in capitalisation.
itBike has gross margins of 50% on its end user sales. The basic financial model is that for every 1,000 itBikes sold, itBikes will generate $700,000 in gross margins. itCreations plan to sell tens of thousands of itBikes.
itCreations is the creator and patent holder for the itBike.
itBikes are produced in the United States and China.
The co-founder of itCreations, Mark Diamond, has previous experience as the co-founder /1st investor in 7 companies that have either gone public or have been sold for a significant profit.
itCreations has spent 3 years developing the itBike Fishing, an inflatable fishing version of the itBike. itBike Fishing has been tested and is ready for final tooling and production.
The major driver for the planned large increase in sales will be to develop customer and market awareness about the itBikes.
Products / Services
itBikes for recreation and fishing
itBikes are a family of human powered water bicycles that are used on lakes, rivers and the ocean.
There are 2 major itBike families, itBike Recreation (itBike) and the new itBike Fishing – market release slated for late 2017.
I Love my itBike!”— Carolyn from Merrill, New York
“Wow now that is what I call customer service! Thank you for exceeding my expectations.”— Brent Hall, Bothell, WA
“I LOOVVEE my bike. I ride it about 4-5 days a week in the warm weather and I miss it in the winter.”— Kathy Langlois, New Hampshire
“I Love my itBike! The itBike is by far the best water bike I’ve ever used, it’s just so fun, but my friends say I look stylish while riding it!”— sent to us from Irena in Canada
“I tried the itBike my neighbour bought. It was splendid! It feels like you are in a car with really good suspension, but you get the water as well.”— sent to us from Steve in California
General Business Development
Mark has over 30 years of starting, building, advising, growing and selling companies. Mark is a co-founder of companies that have reached a cumulative public market capitalisation of over $1 billion. Mark’s portfolio includes such leading companies as Gage Applied Sciences, MVS Modular Vision Systems, and Eicon Technologies. Mark’s itBike focus is on business development, product marketing, team building, and financial structuring. He also emphasises forward thinking in order to see problems and opportunities before they are obvious. Mark is a graduate of the Harvard Business School, The Wharton School and Choate. Mark lives in Montreal, is married and has one child.