Sonic Power
Early Stage
The Internet's Favorite Electronics Brand
Overview
Raised: $86,851
Total Commitments ($USD)
Platform
Wefunder
Start Date
02/04/2024
Close Date
04/29/2024
Min. Goal
$50,000
Max. Goal
$1,200,000
Min. Investment
$100
Security Type
Equity - Preferred
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$1.00
Pre-Money Valuation
$5,650,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/04/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,034
# of Investors
38
Momentum
Funded
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Year Founded
2022
Industry
Consumer Products, Goods & Services
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Sonic Power, with a valuation of $5.65 million, is raising funds on Wefunder. It is a next-generation electronics brand that makes high-quality and affordable electronics. Sonic Power launched 17 products in 2023 across various categories, including bath, kitchen, cleaning, and audio. Sonic Power products are sold on Good Morning America and CBS Morning digital platforms and have reached $600,000 in sales since their launch in January 2023. Spencer Martin founded Sonic Power in September 2022. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.2 million. The campaign proceeds will be used for inventory, payroll, marketing, and miscellaneous expenses.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$2,664 |
$0 |
|
COGS |
$760 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-23,878 |
$0 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$344,859 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$579,771 |
$0 |
|
Short-Term Debt |
$101,602 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$101,602 |
$0 |
Financials as of: 02/04/2024
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