EatOkra
Growth Stage
The platform for Black-owned food experiences, backed by Google for Startups
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
04/27/2023
Close Date
04/29/2024
Min. Goal
$50,000
Max. Goal
$1,235,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$10,200,000
Valuation Cap
$12,000,000
Discount
15%
Rolling Commitments ($USD)
Status
Active
Reporting Date
06/10/2023
Days Remaining
324
% of Min. Goal
0%
% of Max. Goal
0%
Likelihood of Max
Avg. Daily Raise
$0
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
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: 04/27/2023
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