SOKO
Growth Stage
Social impact jewelry brand and manufacturing platform for artisans in Kenya
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/11/2021
Close Date
11/11/2021
Min. Goal
$100,000
Max. Goal
$500,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$12,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
11/10/2021
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2012
Industry
Apparel & Fashion
Tech Sector
CommerceTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
SOKO, with a valuation of $12 million, is raising funds on Wefunder. It is an ethical jewelry brand and manufacturing platform that connects artisan communities in Kenya with the global market. The platform uses mobile technology to connect Kenyan artisans to global customers. SOKO impacts 11,600 beneficiaries and helps them earn five times more. Joanne Calabrese founded SOKO in May 2012. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $500,000. The campaign proceeds will be used for marketing, inventory, and hiring additional e-commerce and tech support.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$2,569,975 |
$2,625,606 |
|
COGS |
$1,153,407 |
$1,121,414 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-3,113,085 |
$-4,809,325 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,299,589 |
$498,225 |
|
Accounts Receivable |
$160,096 |
$242,362 |
|
Total Assets |
$2,319,376 |
$1,610,550 |
|
Short-Term Debt |
$1,685,739 |
$1,004,090 |
|
Long-Term Debt |
$4,420,476 |
$2,575,552 |
|
Total Liabilities |
$6,106,215 |
$3,579,642 |
Financials as of: 10/11/2021
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