Modern Picnic

Modern Picnic

Growth Stage

Stylish, insulated lunchboxes for women

Stylish, insulated lunchboxes for women

Overview

Raised this Round: Raised: $102,250

Total Commitments ($USD)

Platform

Republic

Start Date

06/28/2022

Close Date

10/18/2022

Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment

$150

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$10,000,000

Discount

20%

Year Founded

2020

Industry

Apparel & Fashion

Tech Sector

FashionTech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

New York, New York

Business Type

Growth

Modern Picnic, with a valuation of $10 million, is raising funds on Republic. The company makes stylish and insulated lunch boxes for women. The lunch boxes are made using vegan leather and provide a functional and sustainable alternative to the traditional lunchboxes. Modern Picnic has doubled and tripled its revenue each year since its launch to reach almost $3 million in revenue and is planning wholesale expansion to Saks Fifth Avenue in 2022. Ali Kaminetsky founded Modern Picnic in December 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used to launch new products, develop new partnerships, and develop new distribution deals.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$1,459,574

$471,858

COGS

$646,636

$142,415

Tax

$0

$0

 

 

Net Income

$-744,982

$-89,966

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$95,229

$221,795

Accounts Receivable

$5,800

$0

Total Assets

$363,549

$355,905

Short-Term Debt

$244,165

$62,339

Long-Term Debt

$900,000

$330,000

Total Liabilities

$1,144,165

$392,339

Financials as of: 06/28/2022
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Modern Picnic on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $10,000,000

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