SoapSox

SoapSox

Closed: Apr. 2020

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.

Expand

Investment Overview

Invested this round: $1,069,911

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
09/20/2019
Close Date
04/30/2020
Min. Goal
$9,998
Max Goal
$1,070,000
Min. Investment

$240

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$7.75

Pre-Money Valuation

$6,200,000

Company & Team

Company

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
Company Website
Visit Website

Team

Employees
1
Founder Name
Ray Phillips
Title
CEO

Financials

 Revenue
$759,911
 Monthly Burn
$691
 Runway
24+ months
 Gross Margin
47%

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

Create a free account today to gain access to Kingscrowd analytics and financials.

Upgrade to gain access

Pay Monthly
Annually (2 months free)

Edge

$12.50 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific Kingscrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Company Funding & Growth

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
Create a free account today to gain access to Kingscrowd analytics.
Founders: enhance your startup's credibility on Kingscrowd. Create an account to claim this raise page.
Add to portfolio
SoapSox on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $6,200,000
Price per Share: $7.75

Follow company

Follow SoapSox on StartEngine

Buy SoapSox's Deal Report

Warning: according to the close date for this deal, SoapSox may no longer be accepting investments.

SoapSox Deal Report

Get Kingscrowd's comprehensive report on SoapSox including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether SoapSox is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the SoapSox deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge