SoapSox
Early Stage
Next generation of washcloths for kids.
Overview
Raised: $1,069,911
Total Commitments ($USD)
Platform
StartEngine
Start Date
09/19/2019
Close Date
04/30/2020
Min. Goal
$9,998
Max. Goal
$1,070,000
Min. Investment
$240
Security Type
Equity - Common
Series
Series A
SEC Filing Type
RegCF
Price Per Share
$7.75
Pre-Money Valuation
$6,200,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$4,798
# of Investors
1,986
Momentum
Funded
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Year Founded
2019
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
SoapSox, with a pre-money valuation of $6.2 million, is raising funds on StartEngine. SoapSox is the next-generation washcloths for kids, in adorable shapes and characters. The washcloths make bathing fun for kids and easy for parents. SoapSox allows kids to feed bar or liquid soap inside a cavity and has finger-pockets for better scrubbing. SoapSox was founded by Ray Phillips in 2013 and grew extensively after its SharkTank success in 2016. The current round of crowdfunding has a minimum raise of $10,000 and a maximum raise of $107,000. SoapSox has a wonderful success story with $3.3 million in lifetime sales, over 686,000 customers from across the world, and partnerships and agreements with Disney and Honest Co.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$759,911 |
$405,687 |
|
COGS |
$405,933 |
$125,151 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-8,296 |
$-167,542 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$44,312 |
$6,107 |
|
Accounts Receivable |
$144,917 |
$37,740 |
|
Total Assets |
$834,159 |
$438,083 |
|
Short-Term Debt |
$397,188 |
$147,853 |
|
Long-Term Debt |
$1,147,630 |
$1,045,910 |
|
Total Liabilities |
$1,544,818 |
$1,193,763 |
Financials as of: 09/19/2019
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