Modern Picnic
Growth Stage
Stylish, insulated lunchboxes for women
Overview
Raised: $102,250
Total Commitments ($USD)
Platform
Republic
Start Date
06/29/2022
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
Valuation Cap
$10,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
10/31/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$921
# of Investors
158
Momentum
Funded
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Year Founded
2020
Industry
Apparel & Fashion
Tech Sector
FashionTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
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: 06/29/2022
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