Texas Zebo Pitch Deck: 17-Slide Breakdown

Texas Zebo's 2016 expansion deck outlines a growth strategy for two established Texas-based hospitality brands: Halcyon, a coffeehouse and bar, and Stella Public House, an artisan pizzeria. Unlike typical startup decks seeking venture equity, this proposal offers a revenue-share promissory note with a $250 minimum investment, targeting a 150% capital return funded by 1% of gross revenue. The deck leans heavily on the founders' elite professional backgrounds—including McKinsey, BCG, and Wharton—and provides granular sales data from existing Austin and San Antonio locations. While it effectivel…

Key takeaways

• The investment structure is a revenue-share promissory note paying 1% of gross revenue until 150% of capital is returned (Slide 2).
• The minimum investment threshold is set remarkably low at $250, suggesting a crowdfunding or community-focused raise (Slide 2).
• The founding team possesses high-tier corporate pedigree, including MBAs from Wharton and Stanford, and experience at McKinsey, BCG, and Dell (Slide 5).
• Historical sales data for the Austin location shows net sales for the 'Night' daypart consistently approaching $900,000 on a rolling 12-month basis (Slide 6).
• Food sales as a percentage of total revenue grew significantly in the 'Morning' daypart, rising from approximately 24% to over 30% between 2015 and 2016 (Slide 6).
• The expansion plan includes a 5,600 sq ft flagship site in Austin’s Mueller development, scheduled for a Q1 2017 opening (Slide 8).
• The San Antonio operation is cited as producing 15% net operating income from over $3 million in sales (Slide 9).
• The deck identifies specific future locations in Dallas-Greenville and Rice Village, Houston, to mitigate 'concept risk' through replication (Slide 9).

Frequently asked questions

What is the specific investment vehicle offered by Texas Zebo?

Texas Zebo is offering a revenue-share promissory note. According to Slide 2, investors receive 1% of gross revenue until they have reached a 150% return on their initial capital. This differs from traditional equity investments where returns are tied to a liquidity event or dividends from net profits.

Who are the key individuals behind the Texas Zebo holding company?

The leadership team includes John Long (Managing Partner), a Wharton MBA and former McKinsey consultant; Kris Hardy (President), a Wharton MBA with 10 years at Dell and experience at BCG; and Hanson Li (Partner), a Stanford MBA and founder of Salt Partners with experience in investment banking (Slide 5).

How does the company demonstrate that its restaurant concepts are successful?

The deck uses a combination of media validation and internal sales data. Slide 4 showcases awards from the San Antonio Express-News and San Antonio Magazine, while Slide 6 and Slide 7 provide rolling 12-month sales charts for coffee, bar, and food categories across their Austin and San Antonio locations.

What are the planned locations for the 2017 expansion?

The primary expansion targets mentioned are a flagship site in the Mueller development in Austin (Slide 8), a new location in Dallas-Greenville launching in January 2017, and a potential site in Rice Village Phase II in Houston (Slide 9).

What financial metrics are provided regarding profitability?

Slide 9 states that the San Antonio location produces a 15% net operating income (NOI) on over $3 million in annual sales. However, the deck does not provide a full P&L or detailed unit economics for the proposed new locations.

Texas Zebo pitch deck: the facts

Company

Texas Zebo

Slides

17

Texas Zebo pitch deck PDF

The full Texas Zebo deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Texas Zebo, L.L.C. pitch deck was used for

This deck is an investment offering for Texas Zebo, L.L.C., the holding company operating the Halcyon coffeehouse-bar concept and Stella Public House ‘farm-to-pizza’ restaurants in Texas. It promotes a revenue-share promissory note rather than traditional equity, marketed via equity crowdfunding platforms including MicroVentures and Indiegogo. The raise was used to fund additional Halcyon and Stella Public House locations in Dallas’s Greenville Avenue corridor and Austin’s Mueller Town Center, targeted for openings in early to late 2017. The deck appears to date from around late 2016, when Texas Zebo’s crowdfunding campaign was launched.

Business model: Restaurant holding company that owns and operates Halcyon coffeehouse-bar lounges and Stella Public House restaurants in major Texas markets, with rights to operate these concepts in Texas.

Year

2016

Investors

Crowdfunding investors via MicroVentures in partnership with Indiegogo (approximately 313 individual investors, per loca

Industry

Hospitality / Restaurants

Round: Crowdfunded revenue-share promissory note offering for restaurant expansion (late 2016).

Raised: Approximately $378,823 raised from 313 investors in a campaign targeting $100,000 to $500,000, as reported by the San Antonio Current; a later crowdfunding case study cites $123,575 from 159 investors, likely reflecting a partial or interim raise.

Use of funds as presented: Capital earmarked for opening Halcyon Dallas on Greenville Avenue and flagship Halcyon and Stella Public House locations in Austin’s Mueller Town Center, with openings initially targeted for early to mid-2017.

What happened after the Texas Zebo, L.L.C. deck

Based on available reporting, Texas Zebo successfully closed a crowdfunding campaign in the mid-six-figure range and proceeded to open at least the planned Austin Mueller locations for Halcyon and Stella Public House, though detailed long-term performance metrics and the eventual outcome for revenue-share investors are not publicly documented.

• Texas Zebo’s crowdfunding campaign through MicroVentures and Indiegogo raised approximately $378,823 from 313 investors,
• A separate analysis of Indiegogo equity crowdfunding campaigns later reported Texas Zebo as having raised $123,575 from
• Press reports in 2017 indicate that Halcyon and Stella Public House opened new flagship locations in Austin’s Mueller di

What the Texas Zebo, L.L.C. deck got right

• Evidence-based growth story built on existing revenue-generating units. Texas Zebo’s deck is anchored in **two established restaurant concepts**, Halcyon and Stella Public House, with existing locations whose combined 2015 revenue is cited around $2.3 million, providing a concrete performance baseline rather than purely hypothetical projections.
• Distinctive revenue-share note structure targeting yield-focused investors. The deck’s use of a **revenue-share promissory note** offers investors the prospect of quarterly cash returns tied to restaurant revenue, differentiating the opportunity from standard restaurant equity and potentially appealing to investors seeking income-like investments.
• Clear linkage between raise and specific new locations. By specifying planned openings in **Dallas’s Greenville Avenue** district and **Austin’s Mueller Town Center**, the deck ties capital needs to named markets and projects, helping investors visualize where and how their funds will be deployed.
• Effective use of crowdfunding platforms to reach a wide investor base. Partnering with **MicroVentures and Indiegogo** allowed Texas Zebo to tap a broad base of retail investors, successfully attracting hundreds of backers and surpassing the campaign’s minimum funding target according to local coverage.
• Concepts with demonstrated appeal in multiple urban markets. The deck leverages Halcyon’s positioning as a **day-to-night coffeehouse and bar** and Stella Public House’s **farm-to-pizza** identity, concepts that have already been validated in markets like Austin and San Antonio and, in similar form, in San Diego, which supports the claim that the brands can travel to other high-traffic urban neighborhoods.
• Investor-friendly minimums and perks aligned with the hospitality brand experience. Public descriptions of the offering mention **tiered investment levels** starting at $250 with escalating perks and promised quarterly returns, which can increase engagement and make the raise accessible while reinforcing the brand’s hospitality-driven ethos in its investor relations approach.

What could have been stronger

• Ambiguity between ‘equity crowdfunding’ marketing and a revenue-share note structure. External coverage describes the Texas Zebo campaign as raising funds through equity crowdfunding, while the deck itself is described as offering revenue-share promissory notes rather than traditional equity, which can confuse investors about whether they are buying debt, equity, or a hybrid instrument. The deck does not appear to reconcile this structure clearly for non-professional investors.
• Limited externally visible detail on project timelines and use-of-funds modeling. Press accounts explain that the capital would fund specific openings (Halcyon Dallas on Greenville Avenue and new flagship locations in Austin’s Mueller Town Center), yet there is limited evidence in the deck description of a detailed timeline, cost breakdown, or sensitivity analysis for these projects, which would help investors understand execution risk and capital adequacy.
• Insufficient disclosure of profitability and leverage relative to the revenue-share obligation. Public analyses highlight that existing Halcyon and Stella locations generated about $2.3 million in revenue in 2015 and that leases for new locations had been secured, but there is little externally visible information on margins, cash flow, or debt obligations, which are critical for evaluating a revenue-share note’s repayment capacity.
• Risk disclosure appears light relative to the complexity of a multi-unit restaurant expansion. The offering was marketed broadly to retail investors with minimums as low as $250, yet public descriptions do not indicate strong disclosure around risks typical of restaurant expansion—such as location risk, concept portability, and operational complexity of multiple sites—beyond generic statements, which leaves a potential mismatch between the sophistication of investors and the complexity of the risk profile.
• Expansion timelines in the deck appear optimistic compared with actual opening dates. Coverage notes specific planned opening dates (February and April 2017) and later reports a September 2017 opening for the Austin locations, indicating delays that may not have been contemplated in the original projections; this suggests that the deck’s timelines were optimistic without clearly articulating contingencies for permitting, construction, and market factors.

How an investor would read this deck

What draws attention

• The deck’s focus on a **revenue-share promissory note** instead of equity significantly changes the risk-return profile, making it more akin to a revenue-participating loan that may appeal to investors seeking periodic cash yields rather than long-term equity upside.
• Texas Zebo emphasizes that it operates **two proven restaurant concepts**, Halcyon and Stella Public House, with existing locations and 2015 combined revenues reportedly around $2.3 million, which can be attractive as a growth-on-proven-unit-economics story rather than a pure startup.
• The campaign leverages **equity crowdfunding platforms** (MicroVentures and Indiegogo), opening the deal to non-accredited investors with low minimums, which broadens the investor base but also requires careful scrutiny of disclosure and legal structure.
• Expansion into **Dallas’s Greenville Avenue** and **Austin’s Mueller district** aligns the concepts with high-traffic, destination neighborhoods, which could support the growth narrative if site selection and execution are strong.
• Press coverage that the campaign exceeded the minimum target (raising in the high $300k range) indicates investor demand and social proof, which some investors may interpret as validation of the concept and offering terms.

Risks that stand out

• Restaurant expansion carries **execution risk** related to build-out, permitting, staffing, and ramp-up of new sites; delays observed between planned and reported opening dates suggest that even well-planned timelines may slip, affecting cash flows available to service revenue-share notes.
• A revenue-share note tied to **gross revenue** can pressure the business’s cash position if payments are owed even when margins are thin, particularly in the early ramp period or during downturns, potentially increasing default risk relative to traditional term debt.
• The concepts’ success is partly dependent on **specific neighborhoods** (Greenville Avenue in Dallas, Mueller in Austin) and local competitive dynamics; underperformance in one or more locations could materially reduce the revenue base supporting note repayments.
• Marketing the offering to **retail investors with low minimums** increases reputational and regulatory risk if actual outcomes diverge from the deck’s implied returns, especially if disclosure around risk and structure is not robust.
• Brand and concept risk exists because Halcyon and Stella Public House also operate outside Texas or in partnerships; strategic misalignment or brand damage in other markets could indirectly affect the performance and valuation of Texas locations operated by Texas Zebo.

Questions this deck invites

• How exactly is the revenue-share promissory note structured (percentage of gross revenue, term, cap on total return, priority relative to other debt, and security interest, if any), and how does this interact with the ‘equity crowdfunding’
• What are the historical unit economics of existing Halcyon and Stella locations—specifically store-level EBITDA margins, same-store sales trends, and payback periods—and how do these metrics support the projected returns promised in the rev
• What is the full capital stack for the new Dallas and Austin locations, including bank debt, landlord allowances, and other investor capital, and where do revenue-share investors sit in terms of repayment priority and default remedies?
• Did the new locations in Dallas and Austin open on the timelines and budgets presented in the deck, and how have they performed relative to projections in terms of revenue, profitability, and cash flow available for note repayments?
• How are brand and operational rights structured between Texas Zebo and any other entities or markets where Halcyon and Stella Public House operate (e.g., San Diego), and what protections exist for investors around franchising, licensing, or

What founders can take from the Texas Zebo, L.L.C. deck

• Offering a **revenue-share promissory note** through crowdfunding platforms can attract retail investors seeking current income, but it requires especially clear disclosure of structure and risk since the instrument is neither a plain-vanilla bond nor standard equity.
• Anchoring a raise on **existing, revenue-generating locations** and citing prior-year revenue (such as the $2.3 million combined 2015 sales for Halcyon and Stella) strengthens the credibility of growth projections compared with a purely pre-revenue restaurant concept.
• Detailing **specific new locations** (Greenville Avenue in Dallas and the Mueller district in Austin) and planned opening dates can make the use of funds concrete for investors, but subsequent delays highlight the importance of communicating contingencies and realistic timelines.
• Running a campaign via **MicroVentures in partnership with Indiegogo** shows how restaurant groups can leverage hybrid equity/debt crowdfunding channels to raise mid-six-figure sums from hundreds of investors, demonstrating a path for capital-intensive brick-and-mortar businesses.
• The discrepancy between different reported raise amounts for the same offering (e.g., $378,823 vs. $123,575) illustrates why investors should verify whether figures refer to total commitments, first closes, or partial rounds and underscores the value of cross-checking multiple sources.
• Targeting **tiered investment minimums** starting at $250, with escalating perks and promised quarterly returns, can broaden investor participation but also increases expectations around communication, reporting, and timely distributions to a large, diverse investor base.

Texas Zebo, L.L.C. pitch deck: common questions

What is Texas Zebo and what concepts does it operate?

Texas Zebo, L.L.C. is a restaurant holding company that owns and operates Halcyon coffeehouse-bar lounges and Stella Public House restaurants in major Texas markets and holds the rights to operate these brands in Texas.

How much money did Texas Zebo raise through its crowdfunding offering?

According to coverage of its crowdfunding campaign, Texas Zebo raised $378,823 from 313 investors through MicroVentures in partnership with Indiegogo, with a campaign target range between $100,000 and $500,000. Another analysis of successful Indiegogo equity campaigns cites Texas Zebo having raised $123,575 from 159 investors, likely referring to an earlier or partial raise; the discrepancy suggests multiple closes or reporting at different stages of the same offering.

What was the funding used for in the Texas Zebo pitch deck?

Press coverage states that the capital from the Texas Zebo crowdfunding campaign was earmarked for opening Halcyon Dallas on Greenville Avenue in February 2017 and flagship Halcyon and Stella Public House locations in Austin’s Mueller Town Center in April 2017. Reporting later in 2017 notes that Halcyon and Stella Public House were scheduled to open in Austin’s Mueller district at 1905 Aldrich Street in September, indicating execution of the expansion plan, albeit slightly delayed.

What type of security did the Texas Zebo pitch deck offer to investors?

The deck described an investment structure based on revenue-share promissory notes instead of traditional equity, offered in tiers starting at $250. The campaign promised quarterly returns to investors, aligning with a debt-like instrument whose payments are linked to the restaurants’ revenue.

How was the Texas Zebo offering distributed to investors?

The raise was conducted via equity crowdfunding channels, specifically through MicroVentures in partnership with Indiegogo, which promoted Texas Zebo as an opportunity for non-accredited investors to participate in the expansion of the Halcyon and Stella Public House concepts. The campaign emphasized the performance of existing locations and planned new sites in Dallas and Austin.

Sources

Funding and outcome facts on this page were researched on 2026-08-22 from the pages below.

• Stella Public House: Home
• Crowdfunding in SA: Putting Your Money Where Your Mouth Is?
• Texas Zebo, L.L.C. - National Investor Network
• [PDF] STELLA PUBLIC HOUSE
• Stella Public House - MapQuest
• Texas Zebo Deck
• SA-Stella-Brunch (2:17)
• FIRST LOOK: Stella Public House & Halcyon - San Diego Magazine

Texas Zebo pitch deck slides

What each slide of the Texas Zebo pitch deck says

Slide 1

17,4; — AR HALCYON STELLA: Texas Zebo 2017 Expansion Investment Opportunity December 2016

Slide 2

THIS DOCUMENT 1S NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTEREST IN SECUTITIES. ANY OFFER FOR SECUTITIES CAN ONLY BE MADE BY THE MEMORANDA AND ONLY IN JURISDICTIONS IN WHICH SUCH AN OFFER WOULD BE LAWFUL AND EXEMPT FROM REGISTRATION UNDER APPLICABLE FEDERAL AND STATE SECURITIES LAWS. INTERESTS IN THE FUNDS WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR THE SECURITIES LAWS OF ANY STATE, AND THUS, HAVE SIGNIFICANT LIQUIDITY RESTRICTIONS. CERTAIN STATEMENTS MADE IN THIS DOCUMENT AND ANY OTHER STATEMENTS REGARDING FUTURE EXPECTATIONS, BELIEFS, GOALS OR PROSPECTS CONSTITUTE FORWARD-LOOKING STATEMENTS MADE WITHIN THE MEANING OF SECTION 21E OF THE SEC…

Slide 3

Summary of Opportunity SawAubonic WHAT: Opportunity to participate in market sii expansion of two successful Texas- Best (New) Restaurants ets, se re ft reo rc on Ans based restaurant concepts: Halcyon, [oY s an Austin iconic coffeehouse & bar, i and Stella Public House, an award Lim : winning artisan wood fired pizzeria. L t HOW: $250 minimum investment in ; \ EH revenue share promissory note. CE ll f ) DETAILS: 1% of Gross Revenue to Investors 3, until 150% capital returned

Slide 4

Two Successful Texas Concepts Expanding in 2017 BALEYON correc oan iounas —| \ A VA ¥. 4 j - h * Iconic Coffeehouse, bar, & Lounge * “Best New Restaurant” * Launched in 2002 in Austin * Launched in 2013 in San Antonio * Two locations - Austin & San Antonio * First combo Halcyon & Stella * $2.0M Topline, 17% Net, from 1,600 retail sf concept in Austin

Slide text above is read directly from the Texas Zebo deck PDF embedded on this page.

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