Ovenly

Growth Stage

Beloved for our sweet-salty treats, we are expanding our successful bakery chain

Overview

Raised to Date: Raised: $0

Total Commitments ($USD)

Platform

Wefunder

Start Date

02/17/2023

Close Date

03/22/2023

Min. Goal

$50,001

Max. Goal

$572,518

Min. Investment

$250

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.57

Pre-Money Valuation

$5,833,332

Rolling Commitments ($USD)

Status
Not Funded
Reporting Date

03/23/2023

Days Remaining
Not Funded
% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max
Not Funded
Avg. Daily Raise

$0

Momentum
Not Funded
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Year Founded

2010

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Brooklyn, New York

Business Type

Growth

Ovenly, with a valuation of $5.8 million, is raising funds on Wefunder. It is a bakery chain in New York that makes award-winning and all-natural baked goods. The bakery has been around for over 13 years, with an online community of more than 65,000 and select partnerships with Brooklyn Brewery, DiasporaCo, Boy Who Bakes, and Erin Jeanne McDowell. Ovenly has a run rate of $3.5 million and plans to reach over $11 million in three years. Agatha Kulaga and Erin Patinkin founded Ovenly in September 2010. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $572,517. The campaign proceeds will be used for marketing, hiring, e-commerce performance, and opening new bake shops.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$3,247,485

$2,838,978

COGS

$1,010,734

$711,263

Tax

$0

$0

 

 

Net Income

$-443,151

$-118,339

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$214,220

$377,000

Accounts Receivable

$9,523

$4,888

Total Assets

$1,018,853

$1,207,588

Short-Term Debt

$828,489

$678,261

Long-Term Debt

$788,403

$754,444

Total Liabilities

$1,616,892

$1,432,705

Financials as of: 02/17/2023
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Ovenly on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $5,833,332

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