Mr Bing Foods

Mr Bing Foods

Early Stage

Bringing the spice + excitement of Chinese street food to adventurous US palates.

Bringing the spice + excitement of Chinese street food to adventurous US palates.

Overview

Raised this Round: Raised: $83,304

Total Commitments ($USD)

Platform

Republic

Start Date

12/15/2022

Close Date

02/21/2023

Min. Goal
$25,000
Max. Goal
$1,240,000
Min. Investment

$150

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$10,000,000

Discount

20%

Year Founded

2021

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

New York, New York

Business Type

Growth

Mr. Bing Foods, with a valuation of $10 million, is raising funds on Republic. Mr. Bing captures the most exciting elements of modern Chinese food and interprets them into accessible condiments and ingredients for the modern foodie and everyday cook. Mr. Bing Chili Crisp launched as a healthy replacement to the massively popular, billion-dollar Laoganma Chili sauce. The company was established in April 2021 by Ben Duvall and Brian Goldberg. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $ 1.24M. The campaign proceeds will be used for sales and marketing, manufacturing and warehousing and product development.

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$206,718

$249,875

COGS

$166,232

$168,602

Tax

$0

$0

 

 

Net Income

$-337,660

$-6,709

Summary Balance Sheet

FY 2021 FY 2020

Cash

$92,257

$2,968

Accounts Receivable

$20,628

$9,203

Total Assets

$390,122

$55,275

Short-Term Debt

$103,322

$5,337

Long-Term Debt

$423,421

$43,816

Total Liabilities

$526,743

$49,153

Financials as of: 12/15/2022
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Mr Bing Foods on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $10,000,000

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