Mr Bing Foods

Early Stage

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

Overview

Raised to Date: Raised: $40,984

Total Commitments ($USD)

Platform

Republic

Start Date

12/16/2022

Close Date

02/20/2023

Min. Goal

$25,000

Max. Goal

$1,240,000

Min. Investment

$150

Security Type

SAFE

Series

Seed

Funding Type

RegCF

Valuation Cap

$10,000,000

Discount Rate

20%

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/01/2023

Days Remaining

19

% of Min. Goal

164%

% of Max. Goal

3%

Likelihood of Max
unlikely
Avg. Daily Raise

$872

# of Investors

55

Momentum
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Location

New York, New York

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

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

Most Recent Year Prior Year

Revenue

$206,718

$249,875

COGS

$166,232

$168,602

Tax

$0

$0

 

 

Net Income

$-337,660

$-6,709

Summary Balance Sheet

Most Recent Year Prior Year

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: 12/16/2022
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Mr Bing Foods on Republic 2022
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Platform: Republic
Security Type: SAFE
Valuation: $10,000,000

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