Mr Bing Foods

Bringing the spice + excitement of Chinese street food to adventurous US palates

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Form C
View on Republic
Security Type
Crowd SAFE
Min Investment
$150
Location
NEW YORK, NY
Offering Date
August 12, 2022
Expected Close Date
February 20, 2023
Target Raise
$25.00K-$1.24M
No. Investors
90
Security Price
$1
Website
mr-bing.com
Number of Employees
0
Cash
$92,257
Revenue
$206,718
Short Term Debt
$103,322
Cost of Goods
$166,232
Long Term Debt
$423,421
Net Income
$-337,660

Company Description

Mr. Bing captures the most exciting elements of modern Chinese food and interprets them into accessible condiments and ingredients for the modern American foodie and everyday cook.

Perks

Reserve
$5,000
Receive
Mr Bing Foods #bingit! fan kit, including a case of Chili Crisp to share with friends, two t-shirts, and two hats.
Limited (25 left of 25)

Reserve
$10,000
Receive
Mr Bing Foods #bingit! fan kit, including a case of Chili Crisp to share with friends, two t-shirts, and two hats.
Sharable coupon codes for a free year's supply of Chili Crisp.
Quarterly investor updates and invitations to semi-annual investor calls.
Limited (25 left of 25)

Key Deal Facts

First clean-label only chili crisp brand to market (founded in 2012)
Made in the USA, common allergen-free, non-GMO and kosher certified
Commercial validation: $250K 2020; $300K 2021; $2.0M 2022 (pro-forma)
Healthy gross margin: 35% consolidated (2022 Q4)
Foodservice ready: shelf-stable for 24 months; no need to refrigerate
Expert and diverse: CPG and startup veterans; a minority-owned business
Diversified model: retail, e-commerce, and foodservice businesses

Management Team / Advisory Board Bios

Brian Goldberg
Chief Growth Officer and Co-founder
Brian fell in love with jianbing in 1998. He qualified for the 2002 Olympics and competes in Masters swimming. He was an investment banker and TV reporter, living in China, Singapore, Taiwan & Hong Kong. He speaks Mandarin Chinese.

Benjamin Duvall
Chief Executive Officer and Co-founder
Ben met Brian in 1998, through a similar love of jianbing. He spent the next 20 years building startups, and raising a Swedish / Thai / American family in China, Hong Kong, Spain, and Argentina. He speaks Mandarin and has an MBA from INSEAD.

Jeff Glidden
Chief Operating Officer

Christiane Paul
Chief Marketing Officer

Rob Fascia
VP Sales Retail

Peter Costner
VP Sales Foodservice

Bryan Hamell
Operations Manager

Stu Klane
Advisor - EVP Sales Apollo Food Group

Art Drogue
Advisor - SVP Sales Americas, Unilever

Mark Avery
Advisor - Managing Director, Supply Chain at FAT Brands

Ian Kelleher
Advisor - Founder, Peeled Snacks
Amount Raised : $82,804
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Security Description

An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.

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