Paint Nite
Growth Stage
A platform for artists + venues to easily earn money running creative events
Overview
Raised: $66,291
Total Commitments ($USD)
Platform
Republic
Start Date
04/26/2023
Close Date
07/24/2023
Min. Goal
$25,000
Max. Goal
$1,235,000
Min. Investment
$100
Security Type
SAFE
Series
Series A
SEC Filing Type
RegCF
Valuation Cap
$25,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Active
Reporting Date
06/10/2023
Days Remaining
44
% of Min. Goal
265%
% of Max. Goal
5%
Likelihood of Max
Avg. Daily Raise
$1,473
# of Investors
133
Momentum
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Year Founded
2015
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Paint Nite, with a valuation of $25 million, is raising funds on Republic. The company has developed a platform for artists and venues to earn money by running creative events. The platform makes it easy for artists and venues to come together, host unique and creative social events, and earn money. The flagship event of Paint Nite is a fun paint-and-sip party where guests recreate paintings and have fun. Paint Nite has sold 10 million tickets and generated $100 million in lifetime revenues. Dan Hermann founded Paint Nite in May 2015. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1.24 million. The campaign proceeds will be used for host recruitment, sales and marketing, operations, and general working capital.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$5,309,110 |
$8,404,580 |
|
COGS |
$3,342,529 |
$3,592,203 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$302,963 |
$2,252,000 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$815,796 |
$293,963 |
|
Accounts Receivable |
$29,898 |
$181,951 |
|
Total Assets |
$1,084,066 |
$756,337 |
|
Short-Term Debt |
$7,280,870 |
$9,592,673 |
|
Long-Term Debt |
$4,004,172 |
$1,757,185 |
|
Total Liabilities |
$11,285,042 |
$11,349,858 |
Financials as of: 04/26/2023
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