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Security Type
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CAFES
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Categories
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Technology, Retail
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Min Investment
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$100
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Expected Close Date
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April 30, 2023
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Target Raise
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$50.00K-$1.07M
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No. Investors
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690
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Security Price
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$1
- Number of Employees
- 20
- Cash
- $62,122
- Revenue
- $1,101,598
- Short Term Debt
- $49,268
- Cost of Goods
- $300,015
- Long Term Debt
- $81,568
- Net Income
- $-119,862
Company Description
🪙 CEO previously built $100M co without VC capital
🚀 $3M run rate in just 5 months, growing 20% MoM
😁 Rated 4.6 / 5 from 3000+ beta customers
💸 400% valuation growth in 10 months
📈 On track to hit $25M run rate by EOY
👨💼 Backed & advised by Eric Ries (author of Lean Startup) and Harpreet Rai (CEO of Oura)
Key Deal Facts
🪙 CEO previously built $100M co without VC capital
🚀 $3M run rate in just 5 months, growing 20% MoM
😁 Rated 4.6 / 5 from 3000+ beta customers
💸 400% valuation growth in 10 months
📈 On track to hit $25M run rate by EOY
👨💼 Backed & advised by Eric Ries (author of Lean Startup) and Harpreet Rai (CEO of Oura)
Management Team / Advisory Board Bios
Raymond Lei Cofounder + CEOMulti-time founder. Bootstrapped a $100M+ company. UC Berkeley dropout. Passionate about ecommerce, entrepreneurship, and globalization., Mike Xia Cofounder + CTOHardware and AI engineer by trade. MIT dropout. YC and 500 Startups alumni. Shipped 5M+ hardware at past companies.
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ⓘ
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
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The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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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
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The value of the company compared to similar companies raising money from investors.
Valuation
Security Description
A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.