IPO of the Week: Yummy Flies, Inc.
If the name of this company has you confounded, then you have probably never been fishing, or at least not fly-fishing. Nor have you read Norman Mclean’s A River Runs Through It (or seen the Robert Redford-directed movie starring Craig Sheffer and Brad Pitt).
According to the S-1 it filed with the SEC last week, this Colorado-based company hopes to raise $60,000 in order to become a big fish in the small pond that is the fly-fishing industry. Specifically, it hopes to make a splash with its flagship product, the eponymous “yummy fly”– which isn’t, strictly speaking, yummy, but rather yummy-looking: these “realistic” flies “imitate almost exactly what the real insect (what the food trout eat) look like in nature.” By contrast, most prefabricated flies available for retail purchase are, as the filing puts it, “impressionistic.” That is, verisimilitude is sacrificed at the altar of mass production — and Yummy Flies, Inc., is betting that “finicky fish” will prefer its more lifelike bait.