Karma Baker
Early Stage
Eat.Good.Karma.
Overview
Raised: $55,636
Total Commitments ($USD)
Platform
StartEngine
Start Date
03/16/2022
Close Date
07/29/2022
Min. Goal
$10,000
Max. Goal
$1,000,000
Min. Investment
$500
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$5.00
Pre-Money Valuation
$6,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/19/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$415
# of Investors
58
Momentum
Funded
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Year Founded
2014
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Karma Baker, with a valuation of $6 million, is raising funds on StartEngine. The bakery makes plant-based, gluten-free, and healthy desserts that take as good as they look. The offerings include cookies, cakes, and pies and cater to all groups of people with a variety of food preferences. Karma Baker has a loyal social media following and has reported a 160% growth in online sales since 2018. Arek Reeder and Celine Ikeler founded Karma Baker in October 2014. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1,000,000. The campaign proceeds will be used to open three more satellite bakers, expand online presence and delivery to Canada, and grow to over 1 million customers served.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$900,886 |
$778,001 |
|
COGS |
$729,468 |
$538,069 |
|
Tax |
$800 |
$4,237 |
| ||
| ||
|
Net Income |
$-116,799 |
$-78,924 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$32,878 |
$35,114 |
|
Accounts Receivable |
$61,258 |
$49,650 |
|
Total Assets |
$166,450 |
$125,436 |
|
Short-Term Debt |
$80,875 |
$51,639 |
|
Long-Term Debt |
$257,307 |
$125,744 |
|
Total Liabilities |
$338,182 |
$177,383 |
Financials as of: 03/16/2022
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