Hoop Tea

Hoop Tea

Early Stage

Take A Sip, Enjoy The Trip

Take A Sip, Enjoy The Trip

Overview

Raised to Date: Raised: $261,913

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/29/2019

Close Date

09/14/2020

Min. Goal
$120,000
Max. Goal
$1,069,999
Min. Investment

$1,000

Security Type

Equity - Preferred

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.30

Pre-Money Valuation

$6,500,000

Rolling Commitments ($USD)

Status
Funded
Reporting Date

09/29/2020

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$1,007

# of Investors

132

Momentum
Funded
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Year Founded

2018

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

Rosedale, Maryland

Business Type

Life Style

Hoop Tea, with a pre-money valuation of $6.5 million, is raising crowdfunding on WeFunder. The company creates tea-based alcoholic beverages for customers focused on clean labels, pure ingredients, and low calories. The products of Hoop Tea are available in various flavors and convenient packagings. Hoop Tea was founded by Danny Robinson in a small brewery in Ocean City, Maryland. The proceeds of the current round of crowdfunding, with a minimum goal of $300,001 and a maximum goal of $1,069,999, will be used to advance funds to the manufacturer Southbound One Inc., to expand the sales and marketing teams, and to purchase quality control equipment. Hoop Tea achieved sales of $1.3 million in a single summer of 2018.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$0

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$100

$0

Accounts Receivable

$0

$0

Total Assets

$100

$0

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 12/29/2019
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Hoop Tea on Wefunder
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $6,500,000
Price per Share: $1.30

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