For Bitter For Worse

For Bitter For Worse

Drinks Are Our Love Language

Print
Claim My Business
Security Type
Convertible Note
Categories
Retail
Min Investment
$100
Location
PORTLAND, OR
Offering Date
September 16, 2021
Expected Close Date
April 18, 2022
Target Raise
$25.00K-$400.00K
No. Investors
251
Security Price
$1
Valuation
$4,000,000
Number of Employees
2
Cash
$10,037
Revenue
$98,266
Short Term Debt
$0
Cost of Goods
$48,313
Long Term Debt
$0
Net Income
$-77,030

Company Description

For Bitter For Worse creates non-alcoholic cocktails for discerning drinkers who are abstaining from alcohol for whatever reason, and who seek both complexity and the highest integrity of ingredients. The company uses a multi-step process to create layered, robust drinks. One step in the process is a “reverse bootlegging” distillation technique, through which the alcohol is removed from a mixture of organic botanicals. This patent-pending method was developed to maximize depth of flavor without the use of natural or artificial additives. The company was founded in 2019 and has already begun generating revenue. As of July 2021, For Bitter For Worse has recorded more than $172,000 in sales since inception with 700% growth year-over-year thus far. The company is headquartered in Portland, Oregon and is run by the wife-and-husband team Shelley Elkovich and Jeff Heglie. For Bitter For Worse has been featured in two New York Times articles, and other publications, including GQ and Self Magazine.

Key Deal Facts

Featured in publications such as the New York Times, Self Magazine, GQ, Imbibe, NYT Wirecutter, and SevenFifty Daily
Online return customer rate jumped from 17.5% in Q4 2020 to 29.6% in February 2021
Submitted a patent application for the reverse bootlegging process it uses to create its alcohol-free beverages; the patent is currently pending
When compared to the same period in 2020, revenue for 2021 has increased 700% through July 2021

Management Team / Advisory Board Bios

Shelley Elkovich, Co-Founder and Majority Managing Member
Shelley Elkovich is responsible for For Bitter For Worse’s strategic direction and corporate affairs, which include the duties of chief executive and marketing officers. Elkovich is the company’s taste maven, otherwise known as a super-taster. Prior to founding the company, she was a community organizer and activist, and an author and writer from 2014 to 2018.

Jeff Heglie, Co-Founder and Managing Member
Jeff Heglie is responsible for For Bitter For Worse’s administrative affairs, which include the duties of financial and operational officers. Heglie is the company’s reverse bootlegger. His former career was as an environmental remediation consultant. He believes his background in experimentation and equipment hacking prepared him well for the creative challenges of pioneering processes in a new beverage category.
Amount Raised : $261,720
Reveal the Score by Voting
_
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

Research Reports

No reports have been submitted

Become a Reporter

0 Comments