Early Stage

The First Community-Owned Digital Retailer

The First Community-Owned Digital Retailer


Raised this Round: Raised: $585,186

Total Commitments ($USD)



Start Date


Close Date


Min. Goal
Max. Goal
Min. Investment


Security Type



Series A

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap




Year Founded



Retail Shops & Department Stores

Tech Sector


Distribution Model




Capital Intensity



San Francisco, California

Business Type


Move, a community-owned digital retailer, is raising funds on Wefunder. The company has designed the retailer from the ground up, rethinking and modifying every part, from production to delivery. Move sells 150 modern staples and adds one new product every Sunday. Chai Mishra founded Move in 2016 and has raised over $2.7 million since its inception. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $535,000. The raise’s proceeds will be used for new hires, purchasing inventory, new categories, and operating costs. Move sources award-winning products that are made ethically and priced fairly. It is a members-only store that has already sold 10,000 years of membership.

Summary Profit and Loss Statement

Most Recent Year Prior Year












Net Income



Summary Balance Sheet

Most Recent Year Prior Year




Accounts Receivable



Total Assets



Short-Term Debt



Long-Term Debt



Total Liabilities



Financials as of: 11/16/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Move 12/30/2020 Wefunder $25,000,000 $585,186 SAFE Funded RegCF
Move 07/30/2019 Wefunder $25,000,000 $521,432 SAFE Funded RegCF
Move 04/29/2019 Wefunder $25,000,000 $0 SAFE Not Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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Move is a digital retailer that is aiming to disrupt the $656 billion U.S grocery market. It hopes to be a business that’s better for everyone involved in the consumer process —  from the food producers to order packers to delivery drivers. In a study conducted by Mercatus, it is estimated that the total percentage of grocery shopping done digitally could grow to be 21.5% in 2025. 

Move’s business model gives customers only one brand of each product to purchase – with each producer picked specifically for creating a quality product. As of 2020, Move has partnered with Michelin starred chefs and celebrity bakers to supply their goods to Move customers. The lack of extra brands, according to Move, makes the whole shopping experience streamlined and efficient.

The company is growing quickly, going from just under $37,000 in revenue in 2018 to $383,000 in 2019. The end of November marked Move’s 6th straight month of 20% growth with no marketing expenses to speak of. Even with all of these positive signs, the business model and overall idea is still not completely defensible, and Move will have to go up against larger, more established companies to earn a slice of the digital retail market. 

Move’s current Wefunder raise has been rated a Neutral Deal by the KingsCrowd investment team.

Next Section: Price


Move is currently raising with no valuation cap (but a 10% discount), increasing the risk for any would-be investors. The current growth trend of the company may be alluring, but the question of scalability looms. As a result, Move’s price score is very low and the company’s lowest across all five metrics.

Next Section: Market


The overall market that Move operates within is the U.S grocery market, estimated at $656 billion in 2020. From an ecommerce perspective, the pandemic has created a boom for that industry subset. Accounting for 3.4% of the grocery market in 2019, online grocery shopping has ballooned up to 10.2% in 2020 due to COVID-19 — and is projected to continue rising all the way up to 21.5% in 2025 (up from the pre-pandemic projection of 13.5%). This continuously growing market provides a good opportunity for Move. Older companies can be slow to adopt new trends — Move was created with this new trend (digital grocery shopping) in mind. However, a strongly growing market will naturally attract new competitors. Move’s market score is slightly above average as a reflection of the strong market growth balanced against the company’s likelihood of capturing a large market share.

Next Section: Team


Move was founded by Chai Mishra, who controls the vast majority of the business. He holds 79.3% of the voting power. He went to the University of California, Berkley before dropping out and starting Move. He has no prior business experience but is a self-described “supply chain guy.” Mishra grew up with an entrepreneurial father who he has said influenced him greatly.

Due to this small team and a lack of strong industry experience, Move’s team score is low.

Next Section: Differentiators


Move stands out from any competitors by allowing for the community to take control. As a Move member, you have a say in what gets released. They also adopt a Supreme-like “drop” system, where new items are added every Sunday – leading to quick sales immediately upon releasing. The novelty of these drops regularly makes them sell out in minutes. The company also only provide one type of each item. This limited stock is meant to ensure quality products and reduce difficult decisions for customers.

Perhaps the largest differentiating factor for Move is its transparency. It provides information detailing what each person is paid along the way – from the producers to the delivery drivers. That practice is very different from existing competitors. However, none of these differentiators are particularly defensible. A savvy competitor could easily replicate Move’s practices while also offering some new innovation to draw customers. This lack of defensibility leads to Move’s differentiators score being middle-of-the-road.

Next Section: Performance


Move’s performance in the past year has been solid. The company’s revenue grew to $383,188, up nearly 1000% from the previous year. With $300,000 cash on hand and an average monthly expense of $35,000 (not to mention the average monthly revenue of $133,000), Move looks primed to last for some time. Something to note, however, is that both the company’s short-term and long-term debt have risen in the previous year – but neither figure seems particularly nerve-wracking. 

The company has seen new memberships sell out in minutes the last three times adding them – and still has 130k people waiting to become members. The customers Move currently has do seem to love the service. The average Move member spends 2x what an Amazon customer does – but whether or not this enthusiasm will scale is a big concern for Move. Overall, Move has shown excellent early success in both revenue and customer acquisition, resulting in the performance score for the company being extremely high.

Next Section: Other

Bearish Outlook

The market for ecommerce groceries is growing – but so is the competition. There are already large companies like InstaCart who possess more name recognition and have been around for longer than Move. Large companies like Amazon and Walmart are starting to venture into grocery delivery as well. Move may well remain a niche service for customers who seek authentic, well produced food from their grocer – but the chances they have at occupying a noticeable size of market share look slim. Additionally, the lack of a valuation cap creates unnecessary risk for potential investors.

Next Section: Bullish Outlook

Bullish Outlook

Move has already found success, as evidenced by their 130k users waiting for access to their services. The revenue — while not astronomically high — shot up in the last year and has only continued to increase within the COVID-19 pandemic.

If Move can manage to scale the business to more customers (while maintaining the same allure that it has now with its total transparency pricing-wise and authentic feel), the market is there for them to take. The company has had little to no marketing expenses, so a successful marketing campaign could grow the business exponentially.  

Next Section: Executive Summary

Executive Summary

Move already has a dedicated group of members with a large list of people awaiting entry into the digital retailer/grocer’s program. Revenue has already started trending in the right direction, a big success for any early stage startup. With the continued adoption of ecommerce (and growing prevalence for grocery delivery), Move’s business has much room to grow in the coming months and years.

However, competition in the area is growing too, and customers may opt to stick with groceries from name brand companies with customer loyalty. Move provides goods made from top-of-the-line producers, but this business model may not be alluring to people shopping on a budget or who already have loyalty to a certain brand. The founder and CEO — while he does seem passionate about the project — has no previous work experience and is no sure bet to lead a business successfully. Balancing these concerns against Move’s early traction, this grocery delivery startup is a Neutral Deal.

For questions regarding the KingsCrowd staff pick or ratings for this company, please reach out to 

Analysis written by Ethan Thomas.

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Move on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $25,000,000

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