Trust Infrastructure for Travel

LINX hero — whales between ice flows

Investor Presentation — May 2026

LINX

Where your experience is your asset.

Stein Retzlaff · Founder

The Founder

10+ Years Building the Network

2016

HBO Ice on Fire — first expedition film in Arctic, produced by Leonardo DiCaprio

2018

"How to Change the World with Social Media" — consultants for Sea Legacy / National Geographic

2020

First yacht-based heli-skiing in Antarctica with EYOS

2021

10 years building a production company around creating memories for people

2024

Helps launch 14 new experiences on all seven continents in one year, including another world’s first

2025

Winner of Hulu’s show "Got to Get Out"

2026

Stein Studios has filmed more people skiing in Antarctica than anyone on the planet

Jan 2026

LINX officially a C-Corp

Stein Retzlaff
0+

Expeditions

0

Continents

0

Arctic & Antarctic Trips

Featured in

Red BullNational GeographicHulu

The Problem

The Friction of Discovery

Two channels. One gets paid.

Operators pay 15–30% on the 12.9% of bookings they can track. The other 87% — driven by past guests, athletes, and guides — earns nothing, runs on no system, and is currently very difficult to scale.

Travelers can't tell what's real

Trusted recommendations get buried under sponsored placements. Choice fatigue at $25K+ price points produces hesitation, not bookings.

Sunset on expedition vessel

The Opportunity

The global luxury travel market is worth $776 billion annually. 84% of high-ticket bookings are driven by personal referrals — yet only 12.9% of those referrals are ever tracked or rewarded.

84%

trust word of mouth

12.9%

actually captured

=

87.1%

unmeasured, unrewarded

$0B

untracked referral value in luxury travel

Annually. Globally. Unrewarded.

Sources: Grand View Research (Global Luxury Travel Market), McKinsey, RulerAnalytics 2024

The Solution

LINX is the trust infrastructure for luxury experiential travel.

A members-only community where every member is the verification — every recommendation comes from someone who has actually been.Operators run LINX to power their bookings and content engine via white-labeled LINX.For members, LINX is how you achieve your travel goals — world-class verified experiences, organized into collections, discovered through people you trust.

Expedition team celebrating in Greenland

THE INFRASTRUCTURE

The LINX Loop

Every traveler becomes the next curator.

1

Curator shares Experience

from their travel stories

2

Guest

experiences

3

Attribution tracked,

rewards shared

4

Guest creates memory,

adds to their travel stories

More CuratorsMore Experiences SharedMore Trust DataBetter RecommendationsMore BookingsMore Curators

The CEO of an operator is also a traveler. The traveler becomes a curator. The curator becomes a member. LINX is built around humans, not roles.

How It Works

The Memory Loop

Memories are the share, the experience, and the artifact you bring home.

01

The memory IS the share

A curator gives a friend a memory — a thank-you, a moment, a story they actually lived. Not a link. A keepsake.

02

The friend books and lives it

Trust converts. They experience it themselves and return home transformed.

03

They bring back their own memory

A digital keepsake to share with the next person. The loop continues — every traveler becomes the next curator.

The loop repeats — every traveler becomes the next curator

Discovery

Discover Experiences Through People

Ski the seven continents. Swim with the great whales. Build out your bucket list — discovered through people you actually trust. Like a Spotify playlist for world-class travel.

Antarctic expedition

Standing at the edge of the ice shelf, I understood why people come back. This wasn't a trip — it was a reckoning with scale.

Antarctica Expedition

EYOS Expeditions

View Experience
Norway heli-skiing

First tracks above the Arctic Circle. The silence before the drop is the part nobody tells you about.

Heli-Ski Svalbard

Ice Axe Expeditions

View Experience
Indonesia sailing

We anchored in a bay with no name and dove a reef nobody had mapped. That's what Lamima does — finds the places that don't exist yet.

Raja Ampat Sailing

Lamima

View Experience

Memory

Emotion

Experience Card

Data

Booking

Action

Every experience on LINX is verified by someone who was there.
The people are the proof.

Business Model

The LINX Business Model

10% take rate. Splits favor the curator as they commit. $500 minimum booking floor.

LINXCuratorTraveler

Free

Invite-only

60%

30%

10%

Pro

$59 / month

50%

40%

10%

Elite

$149 / month

30%

60%

10%

Yacht

Adventure

Lodge

Safari

Wellness

Industry

15-20%

10-15%

10-15%

20-25%

10-15%

LINX

10%

10%

10%

10%

10%

5% floor grandfathered for founding operators (EYOS, Ice Axe).

SaaS Subscriptions

Curators

$0 - $149

per month

Free (invite-only) / Pro $59 / Elite $149

Operators

$0 - $1,499

per month

Free / Professional $349 / Premium $749 / Enterprise $1,499

The Market

The Luxury Travel Market

Global Travel

$1.59T

Total Addressable Market

Experiential (>$500/day)

$58.9B

Serviceable Addressable Market

LINX Commission Pool

$6-9B

5-15% paid to intermediaries

Y3: ~150 Operators

$4.75M

Serviceable Obtainable Market

Yacht Charters$9.3B
Safari & Lodges$17B
Polar Expeditions$3.5B
Heli-Skiing$1.2B
Private Villas$4.2B
Luxury Wellness$5.8B
Adventure & Diving$8.4B
Luxury River & Cruise$9.5B

Source: Grand View Research, Knight Frank 2025, UBS Global Wealth Report 2024, Mordor Intelligence

Demand Hubs (People)
Top-Tier Communities (HOAs)

The Target Audience

Where The Market Lies.

From Martis Camp to Silicon Valley, and Palm Beach to Fisher Island — wealth isn’t an abstraction. It’s densely clustered in trackable hubs.

U.S. Core Bracket

> $1M Net Worth

22,000,000

Top-Tier Communities

Luxury Enclaves / HOAs

18,000

Luxury Operators

Globally Addressable

8,000-15,000+

The 22M Millionaire base density is verified by the UBS Global Wealth Report (2024).

Utilizing revised FCAR brackets (>$1M lot valuations) expanding top-tier targetable HOAs perfectly to ~18,000 isolated units.

Why Now

Trust Converts

Paid Channels

1-3%

conversion rate

Trust-Based Referral

9.5%

conversion rate

3x higher conversion rate

Source: Ruler Analytics, Travel Marketing Benchmark

Lamima under full sail in Raja Ampat

THE BUSINESS

Strategic Moats

Our First-Mover Advantage

Trust Graph

Referrals, bookings, and reviews compound into a proprietary trust network. No competitor can replicate the data.

Operator Lock-In

Operators white-label LINX to run their bookings and content engine. Their workflow lives inside LINX. Switching cost compounds with every booking, memory, and member tied to the platform.

Network Effects

More curators = more value for operators. More operators = more value for curators. Classic two-sided flywheel.

Memory Network Effects

More memories create a richer feed. A richer feed attracts more members. More members create more memories. The content flywheel compounds.

Social Graph Density

Degree-of-separation visibility creates switching costs. The experiential social network lives on LINX.

Antarctic glacier landscape

Traction

Three Founding Operators

All 7 continents · Desktop is live

EYOS Expeditions
Ice Axe Expeditions
Expedition Terra
M/Y Solace · Yacht Charter

M/Y Solace · Yacht Charter

Kenya · Safari Expedition

Kenya · Safari Expedition

Antarctica · Ski Touring

Antarctica · Ski Touring

The Team

Built by the industry

Advisors

Ben Lyons

Ben Lyons

Advisor

CEO, EYOS Expeditions

Doug Stoup

Doug Stoup

Advisor

CEO, Ice Axe Expeditions

Roy Kim

Roy Kim

Technical Advisor

Early Engineer at Expedia, Principal at SoFi

Core Team

Anirud Palaskar

Anirud Palaskar

Product Manager & Engineer

Zeus

The AI operations system behind LINX

LINX development is accelerated by Zeus — a proprietary AI directive system with 56 specialized agents. Zeus is how a lean team moves at the speed of a company ten times its size.

9

C-Suite

Strategy, Product, Finance

13

Olympian

Frontend, Backend, Security

12

Titan

Analytics, Planning, Docs

22

Guardian

Monitoring, Trust, Growth

0

C-Suite

Strategy, Product, Finance

0

Olympian

Frontend, Backend, Security

0

Titan

Analytics, Planning, Docs

0

Guardian

Monitoring, Trust, Growth

Customer Acquisition

Cost to Acquire a Customer

1

Operator Onboards

Operators share memories and experience cards with their existing clients instead of just sending website links.

2

Clients Become Referrers

Clients share those memories organically within their communities and networks.

3

Geometric Scale

Each operator brings 10-50 new members at $0 marginal cost.

Operator Invite Credit

$250

Each credit can generate $3,000+ in annual revenue from the referrals it unlocks.

Blended Operator CAC

$350

Blended across founder network ($0), referral credits ($250), and trade shows ($1,500+). B2B SaaS industry average is $1,200+.

Blended Member CAC

$42

Most members arrive free — operators invite their existing clients. Some via $50 invite credits. We don't pay to find wealthy people — they're already the operator's clients.

Go-to-Market

Prove the Loop, Then Scale the Network

Phase 0Now – 12 months

Founding Members + Monaco Activation

50 Hall-of-Fame icons. Five vertical anchors (Davenport × LINX skiing).

Performance-based distribution. Approval-gated. Reputation-staked.

Activation: Monaco Grand Prix · June 4–7, 2026 · private LINX event.

500–5K

Founding Members

10–20

Operators

$170K

Revenue Target

Vertical Programs

Mountain & PolarLive
Ocean & YachtMonaco · Jun 2026
Wildlife & SafariQ3 2026
Wellness & RetreatQ4 2026
Film & Story2027

CAC Moat

8–11% of LTV vs industry 30–80%

Phase 1Years 1–3

NA High-End Wedge

Scale operator cascade across North America. Every new vertical multiplies the referral network.

5K–100K

Members

300–800

Operators

Operator Verticals

ExpeditionsYacht ChartersSafariAdventure LodgesWellness RetreatsLuxury HOAsPrivate Clubs

Product

Memory-led discovery feed, social graph with degree-of-separation, CuratorOS, Operator SaaS dashboards.

Phase 2Years 3–7

Global Scale-Out

Extend the rails. Let others build on TrustOS. The trust graph crosses borders.

100K–1M

Members

Global

Operators

Scale

  • International operators across all 7 continents
  • Global safaris, expeditions, yachts, lodges, wellness resorts
  • Card programs, HOAs, and private clubs licensing TrustOS

Product

Global APIs. White-label TrustOS. B2B2C integrations for clubs, cards, and platforms.

Operators bring the members. Memories drive the loop. Attribution from day one.

Path to Profitability

YR 1

$2.5M

GMV

$170K

Revenue

~500
~40

Phase 0

YR 2

$10M

GMV

$835K

Revenue

~2,500
~100

Loop proven

YR 3

$35M

GMV

$2.8M

Revenue

~10,000
~250

Profitable scale

YR 4

$100M

GMV

$7.6M

Revenue

~30,000
~500

YR 5

$250M

GMV

$17.5M

Revenue

~75,000
~1,000

Category leader

>6:1

LTV:CAC

An operator costs $350 to acquire and generates $2,100+ in commission revenue over 3 years

< 6 months

CAC Payback

First 1-2 bookings from an operator's referrers cover the acquisition cost

Year 2

Loop Proven

100 operators and 2.5K Founding Members generating $835K revenue validate the trust loop

Members
Operators

Based on 10% take rate (5% floor grandfathered for founding operators), v4.0 three-tier curator splits (Free 60/30/10, Pro 50/40/10, Elite 30/60/10), conservative free-to-paid conversion

THE INVITATION

The Human Truth

The most transformative trip of my life didn’t come from a search engine. It came from a friend.

Kara Brenholt

Kara Brenholt

When you’ve skied the entire planet, people ask you where to go. Now there’s finally a way to make that count, and there’s infrastructure for attribution.

Chris Davenport

Chris Davenport

Pro Skier, 2x World Champion

The value in selling experiences comes from those who are sharing stories. There is no platform that captures that until now with LINX.

Doug Stoup

Doug Stoup

CEO, Ice Axe Expeditions

M/Y Solace illuminated at night

The Thesis

The best experiences are remembered, shared, lived again by someone new.

LINX is the verification layer for trust-based commerce. Travel is the wedge.

Trust beats advertising. Memories beat marketing. The people are the proof.

The Ask

$500K

Pre-Seed SAFE

20% Discount · $25K Floor

6-Month Milestones

$85K

Revenue

500+

Founding Members

40

Operators

MVP

Mobile Launch

Use of Funds

40%
30%
20%
10%
Product
Acquisition
Operations
Reserve

Conversion Trigger

LINX commits to initiate priced financing by January 31, 2027.

Helicopter skiing on a snow ridge in Antarctica

Where your experience is your asset.

LINX

The Trust Network for Luxury Travel

Stein Retzlaff

Founder, LINX

530-386-5371