Sool

Growth Stage

A Global Provider of Korean Alcoholic Beverages: Makku and Soku

Overview

Raised to Date: Raised: $35,600

Total Commitments ($USD)

Platform

Wefunder

Start Date

02/28/2023

Close Date

04/30/2023

Min. Goal

$50,000

Max. Goal

$124,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$18,000,000

Valuation Cap

$20,000,000

Discount

10%

Rolling Commitments ($USD)

Status

Active

Reporting Date

03/27/2023

Days Remaining

34

% of Min. Goal

71%

% of Max. Goal

29%

Likelihood of Max
unlikely
Avg. Daily Raise

$1,319

Momentum
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Year Founded

2017

Industry

Alcohol, Tobacco, & Recreational Drugs

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

Bayside, New York

Business Type

Growth

Sool, with a valuation of $20 million, is raising funds on Wefunder. The business is a global provider of Korean alcoholic beverages, including Makku and Soku. The company is globalizing Korean alcohol in an accessible and inclusive way and is building a supportive and inspiring community base. On the one hand, Makku is a modern take on makgeoli, while Soku is a Soju sparkling cocktail made using real fruit juice, a burst of bubbles, and the liquor soju. Sool sells across 22 states in the US and reported a 3,924% revenue growth from 2019 to 2021. Carol Pak founded Sool in June 2017. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for inventory purchasing, freight fees, new sales hires, and sales and distribution support.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$1,312,736

$485,869

COGS

$927,216

$211,006

Tax

$0

$0

 

 

Net Income

$-954,529

$-345,445

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$74,513

$36,739

Accounts Receivable

$285,330

$76,849

Total Assets

$566,189

$204,451

Short-Term Debt

$49,931

$65,153

Long-Term Debt

$0

$1,574

Total Liabilities

$49,931

$66,727

Financials as of: 02/28/2023
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Sool on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $20,000,000

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