Drink Monday

Drink Monday

Growth Stage

Award Winning Non-Alcoholic Spirits

Award Winning Non-Alcoholic Spirits

Overview

Raised this Round: Raised: $381,073

Total Commitments ($USD)

Platform

StartEngine

Start Date

04/11/2023

Close Date

08/29/2023

Min. Goal
$15,000
Max. Goal
$1,499,998
Min. Investment

$251

Security Type

Equity - Preferred

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.66

Pre-Money Valuation

$23,027,288

Year Founded

2019

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

Carisbad, California

Business Type

Growth

Drink Monday, with a valuation of $23.03 million, is raising funds on StartEngine. The company makes non-alcoholic cocktails that give the look, feel, and taste of adult beverages. The healthy and tasty beverages of Drink Monday work great for health-conscious consumers without putting tomorrow at risk. Drink Monday has generated $9 million in lifetime sales and has been featured in Forbes, Vogue, and HuffPost. Chris Boyd, Ben Acott, Marcelo Kertesz, Ryan Mulvany, Tonya Wearner, and Brad Seipp founded Drink Monday in June 2019. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.5 million. The campaign proceeds will be used for sales and marketing, personnel, research and development, inventory, and working capital.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$3,724,908

$3,473,326

COGS

$2,243,991

$2,129,443

Tax

$0

$0

 

 

Net Income

$-928,759

$-1,024,487

Summary Balance Sheet

FY 2022 FY 2021

Cash

$438,202

$480,430

Accounts Receivable

$4,129

$26,199

Total Assets

$1,502,967

$1,528,604

Short-Term Debt

$168,804

$524,509

Long-Term Debt

$814,173

$0

Total Liabilities

$982,977

$524,509

Financials as of: 04/11/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Drink Monday 08/28/2023 StartEngine $23,027,288 $381,073 Equity - Preferred Funded RegCF
Drink Monday 06/27/2022 SeedInvest $24,500,000 $426,089 Equity - Preferred Funded RegCF / RegD 506(c)
Drink Monday 04/07/2022 SeedInvest $24,500,000 $0 Equity - Preferred Not Funded RegCF / RegD 506(c)
Drink Monday 04/15/2021 Republic $7,000,000 $856,423 SAFE Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Company Updates

Drink Monday is a non-alcoholic spirit startup selling gin, whiskey, and mezcal alternatives. The company was a Deal to Watch during its SeedInvest raise from January to April 2022 thanks to its 2022 revenue of $3.4 million and its positioning in the rapidly growing non-alcoholic beverage market.

The company made a radical pivot in its business model since its last raise. That led to founder Chris Boyd stepping down as CEO to be replaced by somebody more in line with the startup’s new strategy, Ken Young. Before joining Drink Monday, Ken ran a consulting company that supported companies in the consumer packaged good space. 

I had a call with Ken to better understand the company’s recent changes and his vision for the startup. And I even got to taste the company’s three drinks. 

View Company Update

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Drink Monday on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Preferred
Valuation: $23,027,288
Price per Share: $1.66

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