Business
MVP Holdings Inc. subsidiary Mealthy Inc. to prepare for 2nd round of CrowdFunding
MVP Holdings Inc. subsidiary Mealthy Inc. to prepare for 2nd round of CrowdFunding.
About this update from Mvp Holdings Inc New
[{"type":"text","content":"\n FRESNO, Calif., Dec. 10, 2020 (GLOBE NEWSWIRE) -- Mealthy Inc., a kitchen countertop appliance company who is a recently acquired subsidiary of MVP Holdings Inc. is preparing a 2nd round of crowdfunding on WeFunder.com/Mealthy. WeFunder.com is a crowdfunding platform that has helped raise over $193 million in capital for over 500 startup companies and has over 780,000 investors on its platform. In August 2019, Mealthy Inc. raised $1.07 million the max allowable at a $30 million dollar valuation in under 90 days in an initial capital raise on the Republic crowdfunding platform. Since that initial raise the crowdfunding regulations have changed and now allow companies such as Mealthy Inc., to raise up to $5 million in a single crowdfunding round every 12 months. Mealthy Inc. is looking to raise up to $3.5 million in a 2nd round of crowdfunding at a $40 million dollar valuation. In 2020 Mealthy Inc., grew revenues 31% over 2019 and has become profitable for the first time since its launch in 2018. “With improvements in operational costs, an increase in sales and our continued expansion in both US & International markets, along with the launch of several new product lines in 2021 we feel it is the right time to do our next capital raise and that our increased valuation is on the mark. In 2021 Mealthy will be launching 3 new products and looks to release new versions of 2 existing products,” said Mealthy CEO Casey Musick. Mealthy will use funds raised for an increase in digital marketing as well as regional tv advertising in accordance with the launch of the new product lines. Capital raised will also go towards increasing inventory levels of current products as one specific product the Mealthy CrispLid sells out regularly within weeks of inventory hitting the warehouse. Finally, capital will also go towards the launch of new product lines including but not limited to inventory, marketing, R&D, & product packing design and brand development. “There are over 25 million households in the US with a pressure cooker and we feel that they have been underserved, in regards to new product launches, upgrades, accessories and add-ons that fit within the pressure cooker category. We want to dive deeper into that segment while others are moving to more saturated product lines like blenders, coffee makers etc.R...