Ovenly
Growth Stage
Beloved for our sweet-salty treats, we are expanding our successful bakery chain
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
02/16/2023
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
Price Per Share
$2.57
Pre-Money Valuation
$5,833,332
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
03/22/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
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
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
| FY 2022 | FY 2021 | |
|---|---|---|
|
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
| FY 2022 | FY 2021 | |
|---|---|---|
|
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: 02/16/2023
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