Knack

Neutral
BETA

Bags by, and for, mobile workers

Analytics

Raised to Date: $111,710

Aggregate Commitments $
Platform

StartEngine

Start Date

07/21/2020

Close Date

01/13/2021

Min. Goal

$10,000

Max. Goal

$1,069,998

Min. Investment

$248

Security Type

Equity - Common

Funding Type

RegCF

Series

Seed

Pre-Money Valuation

$6,540,000

Weekly Commitments $
Status
Funded
Reporting Date

01/20/2021

Days Remaining
Funded
% of Min. Goal

1,117%

% of Max. Goal

10%

Likelihood of Max
Funded
Avg. Daily Raise

$635

# of Investors

177

Momentum
Funded
Location

Barrington, Rhode Island

Industry

Apparel & Fashion

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

Knack, with a pre-money valuation of $6.5 million, is raising funds on StartEngine. The company makes patent-pending backpacks for mobile workers. The styling and multi-purpose bags of Knack can be used to carry many different things, all in one place. They work as laptop bags and also have a hidden compartment that opens to form a suitcase when needed. Knack was founded by Chad Mellen and Keith Bristol in 2018. The company’s current crowdfunding round has a minimum target of $10,000 and a maximum target of $1,069,998.40. The proceeds will be used to continue to create innovative bags and accessories and spread the word about the company. Knack has already shipped over 9,500 units and generated over $1 million in sales in the first 17 months of shipping.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$686,288

$109,311

COGS

$277,589

$40,129

Tax

$0

$0

 

 

Net Income

$-784,643

$-449,410

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$414,667

$468,336

Accounts Receivable

$4,229

$13,081

Total Assets

$908,630

$741,672

Short-Term Debt

$139,198

$91,078

Long-Term Debt

$1,224

$0

Total Liabilities

$140,422

$91,954

Ratings

last updated 01/05/2021

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