Drink Monday
Award Winning Non-Alcoholic Spirits
Overview
Raised: $258,717
Rolling Commitments ($USD)
Active
06/09/2023
20
1,725%
17%
$4,461
239
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 | 06/29/2023 | StartEngine | $23,027,288 | $258,717 | Equity - Preferred | Active | RegCF |
Drink Monday | 06/28/2022 | SeedInvest | $24,500,000 | $426,089 | Equity - Preferred | Funded | RegCF / RegD 506(c) |
Drink Monday | 04/08/2022 | SeedInvest | $24,500,000 | $0 | Equity - Preferred | Not Funded | RegCF / RegD 506(c) |
Drink Monday | 04/16/2021 | Republic | $7,000,000 | $856,423 | SAFE | Funded | RegCF |
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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.