Queens

Queens

Early Stage

A Korean American Food Brand That's Good For People & The Planet

A Korean American Food Brand That's Good For People & The Planet

Overview

Raised this Round: Raised: $104,600

Total Commitments ($USD)

Platform

Wefunder

Start Date

08/13/2023

Close Date

11/01/2023

Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment

$100

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$3,500,000

Discount

0%

Year Founded

2015

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

SAN FRANCISCO, California

Business Type

Growth

Queens, with a valuation of $3.5 million, is raising funds on Wefunder. It is a Korean American food brand that is good for people and the planet. Queens sells Korean food made using Northern California ingredients in a thoughtful and sustainable manner. The business has grown from a storefront to a brand and is known for its fresh daily banchan, ferments, cold and hot foods, Ssam Jang, and many more house-made products. Eddo Kim and Clara Lee founded Queens in March 2015. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $3 million. The campaign proceeds will be used for new equipment and partial operations.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$617,472

$739,223

COGS

$217,332

$243,115

Tax

$25,484

$21,484

 

 

Net Income

$-11,299

$-6,222

Summary Balance Sheet

FY 2022 FY 2021

Cash

$3,745

$22,652

Accounts Receivable

$53,120

$96

Total Assets

$372,173

$355,550

Short-Term Debt

$174,956

$29,033

Long-Term Debt

$810,000

$810,000

Total Liabilities

$984,956

$839,033

Financials as of: 08/13/2023
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Queens on Wefunder 2023
Platform: Wefunder
Security Type: Convertible Note
Valuation: $3,500,000

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