SoapSox
About this raise
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.
Investment Overview
Invested : $1,069,911
Deal Terms
Total Commitments
- Platform
- StartEngine
- Start Date
- 09/20/2019
- Close Date
- 04/30/2020
$9,998
$1,070,000
$240
Equity - Common
Early Stage
RegCF
$7.75
$6,200,000
Company & Team
Company
- Year Founded
- 2019
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Low
- Capital Intensity
- Low
Financials
-
Revenue
- $759,911
- Monthly Burn
- $691
-
Runway
- 24+ months
- Gross Margin
- 47%
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Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/30/2020 | StartEngine | $6,200,000 | $1,069,911 | Equity - Common | Funded | RegCF |