SoapSox

SoapSox

Early Stage

Next generation of washcloths for kids.

Next generation of washcloths for kids.

Overview

Raised this Round: 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    Open SEC Filing

Price Per Share

$7.75

Pre-Money Valuation

$6,200,000

Year Founded

2019

Industry

Consumer Products, Goods & Services

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

Low

Location

Los Angeles, California

Business Type

Life Style

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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SoapSox on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $6,200,000
Price per Share: $7.75

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