- Generated $6M+ in lifetime sales since launching into market in March 2020 (Unaudited)
- Achieved record revenues for the past five quarters straight, surpassing $1M in revenue in Q1 2022 (Unaudited)
- The company's first two products have already topped Amazon's non-alcoholic spirits market - "Monday Gin" was the #1 best seller during Dry January 2022 and "Monday Whiskey" was #5.
- The non-alcoholic beverage category has grown 506% growth since 2015 (Distill Ventures 2020)
- Reported in over 1.1B media impressions - key publications include Forbes, Vogue, Martha Stewart, NYT, HuffPost, Rachel Ray, and The Washington Post
- Total Amount Raised: US $426,089
- Total Round Size: US $750,000
- Seed :
- Minimum Investment: US $1,000 per investor
- : Preferred Equity
- US $24,500,000 :
- Side by Side Offering
The adult drinks industry is failing to provide what modern consumers want.
"What we’re seeing is a moderation trend that’s sweeping across key global markets, and that’s bringing with it increased demand for reduced-alcohol or alcohol-free drink.” — Mark Meek, CEO of IWSR
“Non-alcoholic beverages options are scarce and currently lack the tastes consumers crave.” - Sabrina Tandon, Production Innovation at Coca Cola
“Consumers are increasingly interested in enjoying a non-alcoholic version of their preferred drink.” - fooddive.com
Today’s health-conscious consumer demands flavorful non-alcoholic beverages and the market has been slow to respond with high-quality offerings that are widely available.
ENTER MONDAY. Our non-alcoholic spirits provide the look, feel, and most importantly, taste of your favorite adult beverage without putting tomorrow at risk.
The Monday Method:
Our approach harnesses deep founder experience as digital marketers and brand builders to quickly and continuously test market assumptions in real-time to ensure the most effective storytelling is served to the broadest possible audiences, leading to high conversion rates at checkout.
In October 2019, our first test (Kickstarter, campaign success reached in <48hrs) validated our data and the market, prompting an eCommerce go-live in March 2020.
Monday's model generated $1.6M in sales for 2020 with a single product and conversion rate of 5.01% (vs. Shopify's average of 1.9%). Midway into 2021, our spirits portfolio doubled with our Whiskey offering, along with our revenue at $3.4M.
A Side by Side offering refers to a deal that is raising capital under two offering types. Investments made through the SeedInvest platform are offered via Regulation CF and subject to investment limitations further described in the Form C and/or subscription documents. Investments made outside of the SeedInvest platform are offered via Regulation D and requires one to be a verified accredited investor in order to be eligible to invest.
US $366,087 (under Reg CF only)
Investors who invest less than $250,000 will have their securities held in trust with a Custodian that will serve as a single shareholder of record. These investors will be subject to the Custodian’s Account Agreement, including the electronic delivery of all required information
Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6)of theSecurities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered"restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.
Early Bird Bonus:
Investors who confirm their investment by Tuesday, June 7th, at 11:59PM ET will receive a complimentary bump up to the next level of perks (must qualify for a perk tier to receive the boost).
Tier 1: Investors of $1,500 or more will receive 1 Bottle of NA Spirits from our portfolio ($52+ Value).*
Tier 2: Investors of $2,500 or more will receive 1 Bottle each of Monday Gin, Monday Whiskey, and Monday Mezcal ($148 Value).*
Tier 3: Investors of $5,000 or more will receive 3 Bottles each of Monday Gin, Monday Whiskey, and Monday Mezcal, plus our custom 8-piece Cocktail Creator Barware Set ($524 Value).*
Enthusiast: Investors of $10,000 or more will receive 6 Bottles each of Monday Gin, Monday Whiskey, and Monday Mezcal, plus our custom 8-piece Cocktail Creator Barware Set ($968 Value).*
Fanatic: Investors of $25,000 or more will receive 12 Bottles each of Monday Gin, Monday Whiskey, and Monday Mezcal, plus our custom 8-piece Cocktail Creator Barware Set ($1,856 Value).*
Ambassador: Investors of $50,000 or more will receive Fanatic level perks and be honored by name on the label of Monday's first limited release spirit (tentative launch: Q1 2023) ($11,856 Value).*
*Investors that wish their physical perks to reach destinations outside of the United States will be asked to pay for international shipping charges to ensure funds raised stay true to their intent of moving the business of Monday forward
It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.
Please note that due to share price calculations, some final investment amounts may be rounded down to the nearest whole share - these will still qualify for the designated perk tier. Additionally, investors must complete the online process and receive an initial email confirmation by the deadline stated above in order to be eligible for perks.
The graph below illustrates theor the of Drink Monday's prior rounds by year.
Total Addressable Market - Monday, a maker of premium non-alcoholic beverages focused on flavor profiles typically associated with alcoholic drinks, is uniquely positioned to capture consumers from two large markets: (1) alcoholic beverages, currently worth $1.5T globally, estimated to grow nearly 19% by 2024 and (2) non-alcoholic beverages, valued at $724B in 2020 with an expected peak value of nearly $1.2T by 2027 according to Statista.
Industry Category - The no-and-low alcohol category has grown more than 10x YoY ($3.1B vs. $289M) according to Nielsen and is forecast to grow 31% by 2024 per IWSR.
Sub-Category - Non-alcoholic beverage sales, a sub-set of the no-and-low category where Monday resides, experienced a 33% increase in sales to $331M according to Nielsen.
Segment - The non-alcoholic spirits segment in particular saw the largest sales growth at 113.4% over last year, according to Nielsen. This niche is also predicted to trend in 2022 according to Whole Foods, naming “buzz-less spirits” as a top 10 food trend in 2022, and Well+Good, naming non-alc spirits a top wellness trend for 2022.
The Company has not prepared any audited financial statements. Therefore, investors have no audited financial information regarding the Company’s capitalization or assets or liabilities on which to make investment decisions. If investors feel the information provided is insufficient, then they should not invest in the Company.
The development and commercialization of the Company’s products and services are highly competitive. It faces competition with respect to any products and services that it may seek to develop or commercialize in the future. Its competitors include major companies worldwide. The alcohol-free spirits market is an emerging industry where new competitors are entering the market frequently. Many of the Company’s competitors have significantly greater financial, technical and human resources and may have superior expertise in research and development and marketing approved services and thus may be better equipped than the Company to develop and commercialize services. These competitors also compete with the Company in recruiting and retaining qualified personnel and acquiring technologies. Smaller or early stage companies may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies. Accordingly, the Company’s competitors may commercialize products more rapidly or effectively than the Company is able to, which would adversely affect its competitive position, the likelihood that its services will achieve initial market acceptance and its ability to generate meaningful additional revenues from its products and services.
The Company’s expenses will significantly increase as they seek to execute their current business model. Although the Company estimates that it has enough runway until end of year, they will be ramping up cash burn to promote revenue growth, further develop R&D, and fund other Company operations after the raise. Doing so could require significant effort and expense or may not be feasible.
The Company projects aggressive growth in 2022. If these assumptions are wrong and the projections regarding market penetration are too aggressive, then the financial forecast may overstate the Company's overall viability. In addition, the forward-looking statements are only predictions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
The outbreak of the novel coronavirus, COVID-19, has adversely impacted global commercial activity and contributed to significant declines and volatility in financial markets. The coronavirus pandemic and government responses are creating disruption in global supply chains and adversely impacting many industries. The outbreak could have a continued material adverse impact on economic and market conditions and trigger a period of global economic slowdown. The rapid development and fluidity of this situation precludes any prediction as to the ultimate material adverse impact of the novel coronavirus. Nevertheless, the novel coronavirus presents material uncertainty and risk with respect to the Funds, their performance, and their financial results.
The Company's existing investors have not waived their pre-emptive rights and currently plan on exercising those rights. The pre-emptive right entitles those investors to participate in this securities issuance on a pro rata basis. If those investors choose to exercise their pre-emptive right, it could dilute shareholders in this round. This dilution could reduce the economic value of the investment, the relative ownership resulting from the investment, or both.
Not all of the founders or key employees are currently working full time for the Company. As a result, certain of the Company's employees, officers, directors or consultants may not devote all of their time to the business, and may from time to time serve as employees, officers, directors, and consultants of other companies. These other companies may have interests in conflict with the Company.
The Company does not have an employment contract in place with key employees. Employment agreements typically provide protections to the Company in the event of the employee’s departure, specifically addressing who is entitled to any intellectual property created or developed by those employees in the course of their employment and covering topics such as non-competition and non-solicitation. As a result, if key employees were to leave the company, the Company might not have any ability to prevent their direct competition, or have any legal right to intellectual property created during their employment. There is no guarantee that an employment agreement will be entered into.
The Company’s success depends on the experience and skill of the board of directors, its executive officers and key employees. In particular, the Company is dependent on Chris Boyd and Garrett Potter. There can be no assurance that they will continue to be employed by the Company for a particular period of time. The loss of the Company’s key employees or any member of the board of directors or executive officer could harm the Company’s business, financial condition, cash flow and results of operations.
The Company had outstanding liabilities. As of December 31, 2020, the Company received two cash advances from WayFlyer and Shopify of $225,000 and $94,000, respectively, requiring principal repayment with 10% and 11% of transaction fees, respectively. The loans are repaid via receivables generated via the respective platforms and are taken out of sales until fully repaid. As of December 31, 2020 and December 31, 2019, the Company had a balance of $212,772 and $0, respectively left for repayment.
The Company issued Simple Agreements for Future Equity (“SAFEs”) totaling $25,000. The SAFEs were automatically convertible into preferred units on the completion of an equity financing event (“Qualified Financing”). The conversion price is the lesser of the price per unit of preferred units received by the Company in a Qualified Financing or the price per share equal to the quotient of a pre-money valuation of $6,500,000 divided by the sum of all Company interests issued and outstanding, assuming exercise or conversion of all outstanding profits interest, vested and unvested options, warrants and other convertible securities, but excluding all SAFEs, convertible promissory notes, and including all interests reserved and available for future grant under any equity incentive or similar plan of the Company and/or any equity incentive or similar plan to be created or increased in connection with the Qualified Financing.
In 2021, the Company issued Simple Agreements for Future Equity (“SAFEs”) totaling $2,066,423. The SAFEs are automatically convertible into preferred stock on the completion of a transaction in which the Company raises capital by issuing equity securities (“Equity Financing”). The conversion price is the price per share equal to the quotient of $6,500,000, $7,000,000 or $15,000,000 divided by the aggregate number of issued and outstanding shares of capital stock, assuming full conversion or exercise of all convertible and exercisable securities then outstanding, including all outstanding vested or unvested options or warrants to purchase capital stock, but excluding the issuance reserved for future issuance under an equity incentive plan, convertible promissory notes, and SAFEs.
Start-up investing is risky. Investing in startups is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the company which can be found in this company profile and the documents in the data room below.
Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for theseshares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a "liquidation event" occurs. A "liquidation event" is when the company either lists their shares on an exchange, is acquired, or goes bankrupt.
The Company may not pay dividends for the foreseeable future. Unless otherwise specified in the offering documents and subject to state law, you are not entitled to receive any dividends on your interest in the Company. Accordingly, any potential investor who anticipates the need for current dividends or income from an investment should not purchase any of the securities offered on the Site.
Valuation and capitalization. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.
You may only receive limited disclosure. While the company must disclose certain information, since the company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The company may also only be obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events through continuing disclosure that you can use to evaluate the status of your investment.
Investment in personnel. An early-stage investment is also an investment in the entrepreneur or management of the company. Being able to execute on the business plan is often an important factor in whether the business is viable and successful. You should be aware that a portion of your investment may fund the compensation of the company's employees, including its management. You should carefully review any disclosure regarding the company's use of proceeds.
Possibility of fraud. In light of the relative ease with which early-stage companies can raise funds, it may be the case that certain opportunities turn out to be money-losing fraudulent schemes. As with other investments, there is no guarantee that investments will be immune from fraud.
Lack of professional guidance. Many successful companies partially attribute their early success to the guidance of professional early-stage investors (e.g., angel investors and venture capital firms). These investors often negotiate for seats on the company's board of directors and play an important role through their resources, contacts and experience in assisting early-stage companies in executing on their business plans. An early-stage company may not have the benefit of such professional investors.
Frequently Asked Questions
A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.
The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.
Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.
Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.
Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $5 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive securities, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Drink Monday. Once Drink Monday accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Drink Monday in exchange for your securities. At that point, you will be a proud owner in Drink Monday.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Your accredited investor status
- Social Security Number or passport
- ABA bank routing number and checking account number (typically found on a personal check or bank statement) or debit card information, unless paying via a Wire transfer.
Non-accredited investors are limited in the amount that he or she may invest in a Reg CF offering during any rolling 12-month period:
- If either the annual income or the net worth of the investor is less than $107,000, the investor is limited to the greater of $2,200 or 5% of the greater of his or her annual income or net worth.
- If the annual income and net worth of the investor are both greater than $107,000, the investor is limited to 10% of the greater of his or her annual income or net worth, to a maximum of $107,000.
Separately, Drink Monday has set a minimum investment amount of US $1,000.
Accredited investors do not have any investment limits.
You are a partial owner of the company, you do own securities after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.
In certain circumstances a company may terminate its ongoing reporting requirement if:
- The company becomes a fully-reporting registrant with the SEC
- The company has filed at least one annual report, but has no more than 300 shareholders of record
- The company has filed at least three annual reports, and has no more than $10 million in assets
- The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
- The company ceases to do business
However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.
Currently there is no market or liquidity for these securities. Right now Drink Monday does not plan to list these securities on a national exchange or another secondary market. At some point Drink Monday may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Drink Monday either lists their securities on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.
This is Drink Monday's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the Drink Monday's Form C. The Form C includes important details about Drink Monday's fundraise that you should review before investing.
For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours prior to the offering end date or an earlier date set by the company. You will be sent a notification at least five business days prior to a closing that is set to occur earlier than the original stated end date giving you an opportunity to cancel your investment if you have not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your securities have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, you may go to your account's portfolio page by clicking your profile icon in the top right corner.
If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your account's portfolio page by clicking your profile icon in the top right corner.