인플루언서 마케팅으로 흥했으나 투자자에겐 위험요소가 될 수도... 스타트업 Casper, IPO Prospectus에 social media & influencers를 Risk Factors에 포함 미국의 대표적인 인플루언서 카일리제너의 인스타그램 사진으로 인지도가 급상승한 매트리스 온라인 판매업체 Casper(2014년 창업)가 뉴욕증권거래소 기업공개를 위한 Prospectus에 인플루언서를 Risk Factors로 포함시켰습니다. ➖ Casper를 유명하게 만든 카일리제너의 인스타그램 포스팅 https://www.instagram.com/p/0gMVQOnGnn/?igshid=12dt023lyv13l Risk Factors에 인플루언서가 언급된 건 이번이 최초라는데, 왠지 앞으로 빈번하게 보게 될 듯합니다. ❔ Prospectus는 공개시장 데뷔를 희망하는 비상장사의 모든 정보가 포함된 투자설명서입니다. 국내 유사 문건으로 작년 하반기 매트리스 제조업체인 '지누스'가 재상장을 위해 제출한 투자설명서가 Dart에 공시되어 있습니다. ❔ Risk Factors는 회사의 기업가치/존속에 위협이 될 수 있는 위험요소를 모두 포함하여 투자자가 이를 감안하여 의사결정을 할 수 있게 하는데요. 아주 가능성이 희박해 보이는 소소한 위험요소까지 포함시키는 경우가 많습니다. ➖ SEC에 2020년 1월 10일에 제출된 투자설명서 중 해당 내용 "Use of social media and influencers may materially and adversely affect our reputation or subject us to fines or other penalties." We use third-party social media platforms as marketing tools, among other things. For example, we maintain Instagram, Snapchat, Facebook, Twitter and Pinterest accounts, as well as our Casper Sleep Channel on YouTube and Spotify. We also maintain relationships with thousands of social media influencers and engage in sponsorship initiatives. As existing e-commerce and social media platforms continue to rapidly evolve and new platforms develop, we must continue to maintain a presence on these platforms and establish presences on new or emerging popular social media platforms. If we are unable to cost-effectively use social media platforms as marketing tools or if the social media platforms we use do not evolve quickly enough for us to fully optimize such platforms, our ability to acquire new consumers and our financial condition may suffer. Furthermore, as laws and regulations rapidly evolve to govern the use of these platforms and devices, the failure by us, our employees, our network of social media influencers, our sponsors or third parties acting at our direction to abide by applicable laws and regulations in the use of these platforms and devices or otherwise could subject us to regulatory investigations, class action lawsuits, liability, fines or other penalties and have a material adverse effect on our business, financial condition and operating results. In addition, an increase in the use of social media for marketing may cause an increase in the burden on us to monitor compliance of such materials, and increase the risk that such materials could contain problematic product or marketing claims in violation of applicable regulations. For example, in some cases, the Federal Trade Commission, or the FTC, has sought enforcement action where an endorsement has failed to clearly and conspicuously disclose a material relationship between an influencer and an advertiser. While we ask influencers to comply with the FTC regulations and our guidelines, we do not regularly monitor what our influencers post, and if we were held responsible for the content of their posts, we could be forced to alter our practices, which could have material adverse effect on our business, financial condition, and results of operations. ➖ 투자설명서 전문 https://www.sec.gov/Archives/edgar/data/1598674/000104746920000166/a2240404zs-1.htm ➖ (유료 계정 있으신 분들을 위한) FT https://www.ft.com/content/0dacea5c-3402-11ea-9703-eea0cae3f0de