EatOkra

EatOkra

Growth Stage

The platform for Black-owned food experiences, backed by Google for Startups

The platform for Black-owned food experiences, backed by Google for Startups

Overview

Raised to Date: Raised: $195,637

Total Commitments ($USD)

Platform

Wefunder

Start Date

04/26/2023

Close Date

04/28/2024

Min. Goal
$50,000
Max. Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$10,200,000

Valuation Cap

$12,000,000

Discount

15%

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/13/2024

Days Remaining

15

% of Min. Goal

391%

% of Max. Goal

16%

Likelihood of Max
unlikely
Avg. Daily Raise

$554

# of Investors

374

Momentum
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Year Founded

2019

Industry

Business Services, Software, & Applications

Tech Sector

MarketplaceTech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

BROOKLYN, New York

Business Type

High Growth

EatOkra, with a valuation of $12 million, is raising funds on Wefunder. The company has developed a platform for Black-owned food businesses to acquire new customers and for foodies to connect. The platform helps foodies across the country discover rich food experiences and create a Black-owned food ecosystem powered by the community. EatOkra has reported more than 500,000 app downloads and generated $2.5 million in cumulative revenue. Anthony Edwards Jr. and Janique Edwards founded EatOkra in June 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for customer acquisition, technology and product development, sales and marketing, and operations.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,301,659

$1,263,974

COGS

$0

$741

Tax

$0

$64,765

 

 

Net Income

$-181,385

$340,654

Summary Balance Sheet

FY 2022 FY 2021

Cash

$103,269

$328,213

Accounts Receivable

$83,606

$89,500

Total Assets

$186,875

$427,782

Short-Term Debt

$9,440

$78,532

Long-Term Debt

$0

$0

Total Liabilities

$9,440

$78,532

Financials as of: 04/26/2023
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EatOkra on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $12,000,000

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