Drink Monday

Overview

Raised to Date: Raised: $258,717

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Funding History

Total Commitments ($USD)

Platform

StartEngine

Start Date

04/12/2023

Close Date

06/29/2023

Min. Goal

$15,000

Max. Goal

$1,499,998

Min. Investment

$251

Security Type

Equity - Preferred

Series

Series A

SEC Filing Type

RegCF    

Price Per Share

$1.66

Pre-Money Valuation

$23,027,288

Rolling Commitments ($USD)

Status

Active

Reporting Date

06/09/2023

Days Remaining

20

% of Min. Goal

1,725%

% of Max. Goal

17%

Likelihood of Max

Avg. Daily Raise

$4,461

# of Investors

239

Momentum

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Drink Monday

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

Company Website

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: 04/12/2023

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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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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. 

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