Drink Monday
Award Winning Non-Alcoholic Spirits
Overview
Raised: $381,073
Total Commitments ($USD)
StartEngine
04/11/2023
08/29/2023
$251
Equity - Preferred
Series A
RegCF
$1.66
$23,027,288
Rolling Commitments ($USD)
09/02/2023
$2,742
389
2019
Food, Beverage, & Restaurants
Non-Tech
B2B/B2C
Medium
Low
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 |
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 |
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.
Valuation History
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.
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.