Mr Bing Foods

Mr Bing Foods

Closed: Feb. 2023

About this raise

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.

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Investment Overview

Invested this round: $83,304

Deal Terms

Total Commitments ($USD)

Platform
Republic
Start Date
12/16/2022
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%

Company & Team

Company

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
Company Website
Visit Website

Team

Employees
7
Prior Founder Exits?
No
Founder Name
Brian Goldberg
Title
Chief Growth Officer
Founder Name
Benjamin Duvall
Title
CEO

Financials

as of Fiscal Year 2021
 Revenue -17.3% YoY
$206,718
 Monthly Burn
$28,138
 Runway
3.3 months
Gross Margin
20%

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

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$2,286,000
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
02/21/2023 Republic $10,000,000 $83,304 SAFE Funded RegCF
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Add to portfolio
Mr Bing Foods on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $10,000,000

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Follow Mr Bing Foods on Republic 2022

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Warning: according to the close date for this deal, Mr Bing Foods may no longer be accepting investments.

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