- Oops!Something went wrong.Please try again later.
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.” “Mealthy is about people not just product, we want to make home cooking easier not just faster.” “Mealthy has focused on developing a community not just selling products since the day it launched. The Mealthy mobile app, website and social media communities receive over 190,000 visits per month. It’s not just about product with Mealthy, it’s about community, good food, good people and families coming together around the kitchen table, especially during these crazy times. Mealthy is a company that wants to inspire the world to come cook with us, a company that is built on product but powered by people.” – CEO Casey Musick.
About Mealthy Inc.
Mealthy Inc., based in Fresno, Ca. manufactures the #2 selling pressure cooker on the market and in just 3 years has sold over $19M in Mealthy products. The Mealthy Inc., executive team is made up of Fortune 1000 level experienced talent that has helped build the Mealthy brand into what it is today in just 3 short years.
ABOUT MVP HOLDINGS INC.
MVP Holdings Inc. operates in Fresno, Ca. in multiple industries including real estate, consumer goods, consumer services and web-based services. The immediate focus for the Company is to capitalize on the opportunities coming available over the next 18 months in acquisition of real estate holdings in both multi and single family residential as well as looking at multiple acquisitions of various consumer goods and service brands.
Please continue to look for new filings and press releases as we continue to work towards getting agreements signed and getting current with OTC and as we continue to grow the business and announce new launches and partnerships.
MVPT holds no convertible debt, will not engage in a reverse split, and has no plans for dilution.
Forward-Looking Information: The forward-looking information contained in this press release represents the expectations of the company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable securities legislation.
Casey Musick – CEO/President