Thriving Design
Early Stage
Patented C-BITE clips helping gardeners build custom plant supports
Overview
Raised: $58,870
Total Commitments ($USD)
Platform
Wefunder
Start Date
07/12/2022
Close Date
08/18/2022
Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$4,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/31/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,591
# of Investors
34
Momentum
Funded
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Year Founded
2020
Industry
Consumer Products, Goods & Services
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Thriving Design, with a valuation of $4 million, is raising funds on Wefunder. The company makes patented clips that help gardeners build custom plant supports. The C-BITE clips are durable, reusable, and customizable and help people grow their own food in the garden of their dreams. The product line of Thriving Design includes C-BITE, plant support kits, stake safety caps, garden twist ties, and steel garden stakes. The business has sold one million C-BITE clips to date and generated $300,000 in revenue. Morgan Rider founded Thriving Design in June 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for trade shows, salaries, and facility build-out.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$102,863 |
$10,892 |
|
COGS |
$89,547 |
$2,252 |
|
Tax |
$2,294 |
$10 |
| ||
| ||
|
Net Income |
$-237,136 |
$-116,050 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$38,833 |
$39,463 |
|
Accounts Receivable |
$202 |
$2,816 |
|
Total Assets |
$126,493 |
$103,009 |
|
Short-Term Debt |
$217,417 |
$87,294 |
|
Long-Term Debt |
$216,329 |
$81,329 |
|
Total Liabilities |
$433,746 |
$168,623 |
Financials as of: 07/12/2022
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