Hot Poppy
Early Stage
Straight from local farmers, bakers, brewers and creators to your doorstep
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
12/04/2022
Close Date
01/05/2023
Min. Goal
$100,000
Max. Goal
$1,235,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$3,500,000
Discount
10%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
01/04/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2020
Industry
Food, Beverage, & Restaurants
Tech Sector
Retailtech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Hot Poppy, with a valuation of $3.5 million, is raising funds on Wefunder. It is a local grocery delivery company that brings produce from local farmers, bakers, brewers, and creators to users’ doorstep. The company is putting the power back into the hands of local creators and lets them offer their vibrant creations to the local community. Hot Poppy started off in Nashville in 2021 and has reached over 4,000 users and six-figure revenue organically. Stuart Landis, Storm Sheler, and Vincent Maniscalco founded Hot Poppy in May 2020. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing, payroll, packaging improvements, platform improvement, and inventory expansion.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$126,550 |
$45,110 |
|
COGS |
$91,521 |
$30,508 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-65,806 |
$-31,243 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$0 |
$19,753 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$5,500 |
$22,253 |
|
Short-Term Debt |
$2,638 |
$0 |
|
Long-Term Debt |
$30,000 |
$30,000 |
|
Total Liabilities |
$32,638 |
$30,000 |
Financials as of: 12/04/2022
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