Marlo's Bakeshop: Crowdsourced Cookie Recipes, Over 2 Million Sold & Counting

I invest not only money but time and resources in people who build things. Marlo Giudice has an intense passion and determination that, after investing in a number of different startups across different verticals, I have found to be the most important quality in the success of startup founders. The legacy brands that have dominated the cookie category don't offer consumers the better-for-you options they're demanding. Marlo’s Bakeshop makes allergy-friendly, non-GMO, organic, convenient and wholesome cookies that people still want to indulge in and with 35% less sugar than the leading cookie per serving.

James Sowers

Investor in Marlo's Bakeshop; 66 angel investments

I invested in Marlo's Bakeshop because Marlo is such an energetic and passionate founder who hustled her way into big name grocers and a corporate campus all on her own. She's been able to achieve impressive sales figures on a humble amount of capital. Her soft-baked biscottis are absolutely delicious and my family cannot eat enough of them. I am confident I'm betting on a winner with Marlo's Bakeshop.

Wilson Tsai

Investor in Marlo's Bakeshop; Angel Investor

Marlo’s Bakeshop soft-baked biscotti are delicious straight from the package. This morning, I chose to heat my Chocolate Pumpkin Pie biscotti in the microwave for a few seconds and then dunked into my morning coffee. Oh My! My two young daughters enjoy dipping their biscotti into a glass of cold milk. No matter how you eat your soft-baked biscotti, you are sure to enjoy them! Each of the biscotti flavors we received were yummy!

Laurie

Writer for Lifestyle Blog "Emily Reviews"

Investor Q&A

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What does your company do?

Marlo's Bakeshop nurtures customers and promotes women’s entrepreneurship with wholesome cookies and soft-baked biscotti made from real, organic ingredients. Our cookies are inspired by crowd-sourced family recipes that celebrate diverse culinary roots. Sales have climbed an average 65% annually for the last 2 years & we're now in 1,100 points of distribution, including a monthly 9,600 cookie order to Facebook's HQ, 244 Meijer grocery stores, and 276 Cost Plus stores.

Where will your company be in 5 years?

Cookies are present in 3.4 of 5 American households & represent an $8.3b opportunity, 25% of which is specialty cookies alone. We aim to be a household name in this segment, known for never compromising on quality, taste or flavor. We have a seasoned sales veteran onboard, experienced in growing emerging brands through their acquisition. He is focused on helping us expand our distribution & scale the company both domestically & abroad.

What is Marlo’s Bakeshop?

Our mission statement is three-pronged: we want our products to nurture our customers, strengthen our community, and promote women's entrepreneurship. We have a signature line of soft-baked biscotti and a line of heirloom cookies, and all of our products are made with clean, wholesome ingredients; they have 34% less sugar than the leading cookie per serving, and they're non-GMO project verified and/or organic- that's the wholesome indulgence piece of our mission statement that nurtures our customers. We donate as many cookies as possible to local and national non-profit organizations, schools, and fundraisers- that's the community piece of the mission. The third piece is promoting women's entrepreneurship, which is important to us as a woman-owned company. We created a seal that goes on all of our packaging that easily identifies our product as coming from a woman-owned company, to make it as easy and seamless as possible for consumers to identify products made by a minority-owned business if that’s something they'd like to support.

Why did you start Marlo’s Bakeshop?

In 2011 I had moved to the Bay Area to work in tech and found myself dissatisfied with my career. I had always enjoyed baking, and often found myself baking for colleagues. In particular, I had this recipe that my Russian grandmother had passed down to me when she got tired of making it and developed arthritis in her hands. She felt it was time to “pass the torch” by giving me this recipe. My boyfriend at the time, who is now my husband, lived across the street from a cooking school here in San Francisco. I looked up the school and found that they had an amazing part-time pastry program offered on nights and weekends. And the owner of the school (which has since closed) is an icon in the Bay Area food scene. I liked the idea of this program because I was able to keep my job while I attended. I found myself with about 12 other women who were all as passionate about baking, butter, and sugar as I was. What I most remember though is being really inspired by other women who had gone through the same program and then had started very successful baking businesses. In the context of doing that, too, I thought to myself, ‘Okay, if they can do it, I can do it.’ I grew up as a competitive swimmer and have always retained a bit of that competitive nature. At the time, I wanted to have a business that wasn't tied to one particular location or lease, so starting a storefront wasn’t really for me. I needed to do something wholesale and packaged that would allow me to travel while I managed the business. I knew I had my grandmother’s recipe that everybody absolutely loved when I made it for them, so I decided to sell that. I formally launched Marlo’s Bakeshop in late 2012 and then I worked for another year full-time at the tech company and pursued Marlo's on nights and weekends. In the beginning, I was doing food service, selling to cafes with a little sign that said “By Marlo's Bakeshop” to try to build some brand awareness. My first customer was a cafe in North Beach, three blocks away from where I went to pastry school. I also did Treasure Island Flea Market on the weekends, and would just put a label on a cellophane bag and try to make a little money, but also to do consumer testing. I knew everybody in my family was obsessed with the biscotti because we had this nostalgia about the cookie from my grandmother, but I wanted to make sure strangers enjoyed it just as much. I used that opportunity to develop a second flavor, as well. In 2013, once I had branded packaging to go to stores with, we had our official company launch, which coincided with quitting my job and jumping into Marlo’s full-time. With a packaged product I was able to start going to grocery stores with samples to build our local distribution.

How has your distribution grown since launch?

At first, it was very local. Initially, we targeted specialty food shops and niche or independent grocery stores in the Bay Area. Then we expanded in concentric circles out of our home base and now have distribution up to the Pacific Northwest and down to Southern California and east to Texas. We just launched this summer in the Midwest with the wonderful Meijer chain of grocery stores. We also recently brought on some sales representation on the east coast to expand in that part of the country as well. We now have a national customer, Cost Plus World Market, which has stores in and just outside of major metro areas all over the country. However, we're still intentionally regionally focused in our distribution, because it's a way for us to keep our arms around our brand messaging and rollout and to maintain a high level of attention paid to each customer. We want to ensure that, with each new retail partnership, we are going to support them from a marketing standpoint as much as we can and so scaling thoughtfully ensures we have the resources to do that. We work with United Natural Foods (UNFI) and KeHE, the two largest national food distributors in the country. One of the beautiful things about our product is that we can be quite nimble within different sales channels: grocery, food service, hospitality, etc. We naturally have a long shelf life without adding any preservatives or artificial flavors, and we use single-serving packaging for all of our products. With those advantages, we have been able to tap into the office pantry market here in the Bay Area and Silicon Valley a bit, as well. Our products pair really beautifully with coffee and tea and all the things that you'd expect to find in an office kitchen, so it’s a very natural place to find our cookies. For example, we work with Facebook in their headquarter campus in Menlo Park, which is a great way for us to build brand awareness in the region. It's very low risk for employees to try our product because it's free. We have seen a lift in the Bay Area in grocery stores because people taste our products at work and then see and buy it off shelves. With respect to eCom, we sell on Amazon, Jet and Marlosbakeshop.com and are working very hard to increase our traffic to all those digital properties. We have a keen focus on optimizing our presence online, given the data we see with consumer behavior trending toward purchasing groceries there more and more. That really coincides with our social media engagement strategy (especially on Instagram and Pinterest) working to cultivate a community of Marlo's Bakeshop fans and then helping them continue their online experience to easily purchase the products through Amazon or on our website.

What are your profit margins?

Our gross margin, blended across all products and distribution channels, is about 48%. We're focusing on developing products with higher gross margins, which will lift the average for the brand and allow us more room to support deeper promotions to drive trial & repeat purchase and increase velocity during those periods. We were not profitable last year but our loss was half that of the prior year. We are forecasting profitability in 2019 and are sitting at about net zero right now. We operate very leanly with a small team and minimal overhead so we don't have a lot of extraneous expenses. As we continue to grow, we will leverage additions COGs savings on packaging volumes, ingredients, etc., which will also increase our margins.

How do your margins and growth compare across sales channels?

Our margins vary depending upon the channel and the marketing demands we know we’ll have to contribute towards the sale. Our best margins are from direct sales on our website. Next would be food service or office pantry, and then grocery, where distributors and retail demands ads, promotion and, oftentimes, demos. Amazon actually has fees that affect our margin, even though it’s technically direct to consumer. Grocery still has the most growth, because there is still so much green space for us. We've invested in partnerships with KeHE and UNFI, and so the more volume we can drive through them, the more profitable those partnerships will become. The biggest potential for growth over the course of the next ten years would be direct to consumer sales online through Amazon and Marlosbakeshop.com. Our team works hard to create fresh content to boost our site’s SEO: we post on our blog regularly, we create recipes, and we have a YouTube channel with video tutorials for desserts and snacks that you can make with our products. We really want our online presence to be places where consumers will come and spend some time engaging with our content and, at the end of it all, perhaps buy a box of cookies or two.

How has your revenue grown?

We've grown in double digits since inception. Last year, we saw about 87% growth over 2017 and about 46% growth from that over the prior year. We’ve had some spikes in revenue as well over the years; in 2017 we did some private label work. Facebook is an ongoing customer that started in 2017 but we know they like to provide variety to their employees so we are always on the lookout for other companies to work with and participate in snack fairs as their offices regularly. The launch at Meijer is an additional 244 stores, and then World Market brought on our entire line this year, whereas in 2017 they featured one seasonal item. To support our Meijer launch we are participating in a program with KeHE, one of our distributors, that will build out our distribution into hundreds of independents in Q4 in the Midwest, too. We project revenue to continue to grow and even more aggressively so once funding is secured. We work six to nine months ahead for opportunities in 2018 and beyond to support our three-year plan. As of right now, our fiscal year growth is about 17% over last year, but we are expecting about 50% growth total by the end of the year, as we have some Q4 commitments and a new seasonal SKU launching for the first time (Chocolate Peppermint Truffle soft-baked biscotti) that we have significant pre-orders for.

How do you approach promotional strategy and discounting?

The majority of our retail customers are getting our products from UNFI or KeHE and they have specific requirements, such as minimums for promotions. For instance, we may be required to be on promotion four times a year, a month long each time, and for a minimum of 15% off invoice. From there, that's your baseline and then we get more strategic in nature beyond that, like participating in special product promotions and tacking on an additional five or 10% for strategic accounts. We typically work backwards from an on-shelf retail price point we want to achieve. So, if we know we want to sell some product at $4.99 in a specific store, we can work backwards from that. What's their margin? What's the margin that UNFI is charging them? Maybe we can sweeten your promotion with a certain discount on top of the off-invoice one to accomplish the $4.99 price point. A very wise advisor of mine taught me that you don’t have to deeply discount your items on-shelf, it’s really just about getting the sale tag on your items to capture someone’s attention. Once you have that, it doesn’t matter if you’re $1 off or $0.25 off; in fact, almost better to be $0.25 off to capture the type of customer who will buy you again when you’re full price than the customer who simply shops on-deal.

How do you plan to build your brand identity?

Our brand is very important to me. I think ultimately, it is going to be our most valuable asset, as opposed to any specific product or retail partnership. I envision our brand as a platform for a variety of categories and snacks that can be baked. The brand is what will ultimately make us attractive for acquisition. The way that we build the brand today is through creating a community of people that enjoy our products, support our mission, and are like-minded in their values. The more we focus on building our community and on creating a dialogue via social media, that community will not only be going in-store or online to purchase our products, but also sharing Marlo’s Bakeshop with their respective networks. You see a mushrooming, snowball effect. That’s why we plan on investing resources into these platforms to allow us to focus more on cultivating and nourishing this growing online community. In the past, word-of-mouth marketing was difficult to trace. You didn't necessarily know how Joe got to you, and when you tried to trace it back, it might have been someone five contacts back from him that actually started the chain of telephone. But now, with all the analytics tools available, you can really see where online sales are coming from and what the click path was for that customer. That’s really powerful, actionable data to capitalize on, and I want that to be a bigger focus for the brand moving into 2019.

What sets your products apart from other cookies and biscotti?

Our soft-baked biscotti is our signature line, from my grandmother. It takes a more tender approach to the crunch than traditional biscotti, so it is a little bit more approachable for the American palate. We joke that ours is the “gentle on your dental” biscotti, so you don't have to worry about breaking any teeth. That’s the result of my grandmother’s recipe. We're not Italian; our biscotti is basically Mandel bread, which is like a Jewish biscotti. It's made with oil instead of butter, which is how you get that more softer crunch. We use a very neutral flavored oil, which allows all of the other flavors to really shine through. We use beautiful nuts from a family-owned farm, and the best high-quality chocolate from Guittard; if you're going to use all these great ingredients, you want to taste all of those great flavors instead of just a big butter bomb. The flavor profiles I developed of our soft-baked biscotti are all comfort food desserts that we've translated into our portable, dunkable form factor. A lot of people love banana bread, but while you can't put a banana bread slice in your pocket, now you can take a banana bread soft-baked biscotti on the go. Our biscotti are very allergen friendly compared to other biscotti on the market. We offer a gluten free flavor. Ninety percent of our products are dairy-free; they're soy free because we use soy-free chocolate; and we have nut-free flavors. We recognize that people are living all sorts of dietary lifestyles right now, and we want as many people as possible to be able to enjoy our products. We're actually the only Non-GMO Project verified line of biscotti on the market. Another thing that differentiates us is the idea of using the family recipe to inspire us and create from. I know a lot of companies do this but I believe we take it a step further. The picture of my grandmother and me on the box is there to honor this idea of passing down edible family treasures from generation to generation. Our Heirloom Cookie line is an extension of this idea. What we found when sampling our soft-baked biscotti was that the recipe’s origin story really resonated with consumers, and it reminded them of their own family’s nostalgia for particular flavors or cookies. They might recall a great-aunt that made a butter cookie that was amazing, for instance. This made me think about all of these edible family treasures that are just kind of floating around, some getting recorded and saved, some not. So we turned to social media and crowdsourced other families’ recipes. That became the Heirloom line. We took the recipes we’d gathered, narrowed them down to what we could commercialize, and did a lot of testing. We ended up with two products: our Sweet Heat Double Chocolate Chip Cookie and our Sesame Tahini Tea Cookie. They both have authentic, unique origin stories, which we tell on the packaging along with images of the people who created them. We really celebrate this idea of real people behind our products with a real story.

Do you have plans to expand beyond your current products?

Our research tells us that where a lot of the opportunity in the $8 billion cookie market is snacking. The number one reason that Americans snack is to treat themselves, and 94% of Americans are snacking on a daily basis. Millennials snack more than four times a day, which presents a huge opportunity. They want to treat themselves don’t want to sacrificing healthfulness for that snack. People still want to feel decent at the end of the day, not like they ate three slices of cake. We created a product line that doesn't sacrifice taste or flavor for our more virtuous nutritional profiles, but that still tastes like you are indulging. About 20-30% of our fundraising campaign (depending on the total amount) will go towards developing our new Cookie Bites line. It’s kind of like Cookie Crisp cereal, but with much higher quality ingredients. This line will provide a wholesome yet delicious answer to that Millennial question: “What should I snack on?” It’s something that we're really excited to bring to market, but we haven't yet had the resources to dedicate to a proper launch.

Are there other brands you look to for inspiration?

Stonewall Kitchen has done a really beautiful job of not compromising their go-to-market strategy and sales approach and are constantly creating innovative flavors and a beautiful product. They have elevated the conversation around specialty food in grocery. Their products are something special, not necessarily for everybody for the everyday. They em, idea that you don't have to make something that's $1.99 to appeal to everyone. You can make a really high quality, premium product, and people will splurge for it because it’s premium and from a trusted brand. I admire them and all of their beautiful marketing collateral.

How do you strengthen your community and promote women’s entrepreneurship?

We work with nonprofits and schools, some local to the Bay Area, some in different areas of the country. We donate as many cookies as we can, and sometimes we donate something that they can put into a silent raffle or similar fundraising vehicle. It also helps to get the brand in front of people that may not have been familiar with it before. In terms of women’s entrepreneurship, we designed a seal in-house, similar in appearance to the Rosie the Riveter visual, but with a contemporary spin on the silhouette. We have shared it with several other women-owned companies and encourage them to use on their packaging, and it’s something we hope to see take off down the line. The seal explicitly and easily shows consumers that they are a woman-owned business and frictionlessly allows consumers to identify such businesses. If they are looking at a grocery store shelf and they see two very similar products there but one has a woman-owned seal, that could be what makes them pick up that product.

Do you have further plans for your Woman-Owned Company seal?

It's certainly a big opportunity for Marlo's Bakeshop. We have trademarked it, so it could be a revenue stream for us. Ultimately, we’d like to link it to a verified accreditation, then allow these verified woman-owned companies to use the artwork on their packing and in their marketing collateral. There are organizations doing something similar, but we found that nobody was doing it on the front of their packaging and the logos that existed were not explicit and easy to identify like ours is. A lot of the existing organizations just use acronyms that don't necessarily tell the why or the what in an explicit way.

What are the biggest challenges and opportunities that you foresee?

The biggest challenges are just having the time and resources to focus on everything that is important to moving forward and focusing on growth. That is why we are fundraising now. It ties into our original idea of having resources dedicated to building opportunity on social media. Bringing our new product line to market will be a challenge. These areas are also where the biggest opportunities lie: a new product line in the snacking area, a bigger community on social media to be our evangelists, and building our business online and in stores.

Who else is on the team?

Olivia, who has been with Marlo’s Bakeshop for about 18 months now, does sales operations and marketing administration. She also does some of our social media management and helps with content creation that we syndicate across our online properties. On the sales side, our VP of Sales is Jeff Canner, who has about three decades of experience in the food industry, primarily working with emerging brands to build them up to where they are attractive for acquisition. We supplement our sales team with contractors. We have brokers that represent the product from the Pacific Northwest and Southern California and into Texas and the Midwest. We use a contracted bakery that does the manufacturing for us in Sonoma County, about 45 minutes away. I have worked with them for about four years now, and they are a wonderful partner. The fact that they are geographically within driving distance makes product testing, QA or just having a conversation in person easy and economical.

What is your manufacturer’s capacity for growth?

Our manufacturer can do about 10x than we're currently doing without having to increase their own staff or number of shifts per day. If we did want to expand beyond that volume, there is still space to do more. However, we do have other co-packers we’ve engaged with, and we actually will use a different co-packer for our planned Crispy Cookie Bites line, up in the Pacific Northwest, so we would have that resource available to us if we did outgrow any one facility.

What is your attitude toward acquisition?

That's ultimately what we are working towards.

Why crowdfunding?

It’s a perfect fit given that we are really striving to create a community around our brand. We want people to support us organically, tell their friends and family about the products, and be fellow brand evangelists. That idea of a new Marlo’s community from Wefunder really excites me: there will be people all over the country who will be invested in Marlo's Bakeshop on many different levels, like I am, and that we’re all hoping for the same success for the brand. The more people you can get on your side in a competitive industry like this, the better. There is so much power in word of mouth.

If you were pitching an investor, what would you tell them to convince them to invest in Marlo's Bakeshop?

First, that they would be really investing in me and my team. As an entrepreneur, I am relentless. I am very focused and really try to keep the values of the company and how we operate on a day-to-day basis aligned with not only doing well financially, but doing good for the community and to embody our mission. I am excited to continue to build out the Marlo’s team with exceptional, talented people. Also, we sell really, really good products. There are a lot of cookies and baked goods out there that are garbage, and they're made with garbage. The tide is turning on what people expect from the products they purchase though. We're really on the front lines of that revolution, and we have an unwavering commitment to using quality ingredients and sourcing sustainable packaging and we won’t compromise on that. That's what consumers want, and it’s what I want too. I don't want to put garbage in my body or in my families' bodies, and it is important for me to practice what I preach and preach what I practice. I want to give people wholesome options that they can really feel good about purchasing, enjoying and sharing.

1	Over 2M cookies sold; 750K cookies in 2017 alone.
2	Nearly 2x revenue growth 2017-2018.
3	1,100+ retail partners (up from 676 in 2017).
4	Distributed by the two largest natural foods distributors, KeHE & UNFI; poised for national expansion
5	Sold at Cost Plus World Market, Nugget Markets, Central Market, Rouses, Meijer and online on Amazon & SamsClub.com.
6	30% less sugar than the leading cookie per serving. Satisfying consumer desire for 'better-for-you' treats.
7	Using cutting edge artificial intelligence & cash-back advertising to drive profitable, direct-to-consumer business
8	Allergy-Friendly, GMO-Free, Kosher, and certified Woman-Owned Products

1	The office pantry/office coffee service sales channel is fickle and companies like to switch the product offerings for their employees often, sometimes quarterly, sometimes more frequently. These customers' revenue is included in forecasts for an average engagement length but the actual engagement period for each customer is unknown.
2	The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
3	Jeff Canner is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.
4	Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
5	We claim to be the only full line of Non-GMO Project verified biscotti on the market but we do not have visibility into whether other full lines are pursuing verification
6	To our knowledge we are the only company using crowd-sourced secret family recipes to bring new products to market, but that could not be the case.
7	Litigation: From time to time, the Company may be the subject of complaints or litigation from guests alleging food-borne illness, injury or other food quality, health or operational concerns. The Company may also be subject to a variety of other claims arising in the ordinary course of its proposed business, including personal injury claims, contract claims and claims alleging violations of federal and state law regarding workplace and employment matters, discrimination and similar matters.
8	Increase in Price, Shortage of Product: The Company’s profitability depends significantly on its ability to anticipate and react to changes in meat, bread, produce, beverage and other local food costs. The supply and price of these items is more volatile than other types of food.
9	Negative Publicity: The popularity of a business, in general, and its menu offerings, in particular, are key factors to the success of the Company’s business. Incidents that occur at a business may result in negative publicity, which could adversely affect its popularity.
10	Competition: The packaged foods industry is highly competitive. The Company will compete on the basis of the taste, quality and price of food offered, customer service, brand name identification, and overall experience.
11	Tax Matters: Prospective investors are urged to consult their own tax advisors with respect to their own tax situations and the effects of this investment as the Company is taxed as a partnership.
12	Limited Financial Resources and Need for Additional Financing: Although the Company estimates that the proceeds from the offering of the SAFE will be sufficient to allow implementation of the Business Plan as described herein, no assurance of such can be given.
13	Unforeseen contingencies may impede the Company’s initial marketing efforts. If the proceeds of the offering of the SAFE are insufficient to implement the Business Plan or hit the six (6) month runway, the Company will be required to seek additional funds through one or more offerings thereby substantially diluting the SAFE investors, or by incurring indebtedness.
14	Business Projections: All Company financial projections and forecasting, while based on research and analysis conducted by the Company’s CEO and its advisors and consultants, has not been fully tested and there can be no assurances that the Company will be successful in implementing the Business Plan.
15	Jeff Canner is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.

Date	Amount	Security
	$0	SAFE
01/2014	$62,854	Loan
04/2017	$60,000	Priced Round
12/2017	$15,000	Loan
03/2018	$40,000	Loan
09/2015	$10,000	Loan
08/2015	$50,000	Loan
01/2015	$8,000	Convertible Note
03/2016	$10,000	Convertible Note
02/2016	$5,000	Convertible Note
06/2014	$20,000	Convertible Note
10/2014	$20,000	Convertible Note
09/2016	$10,000	Convertible Note
04/2013	$4,000	Convertible Note
09/2012	$6,000	Convertible Note
02/2016	$5,000	Convertible Note

Issued	Amount	Interest	Discount	Valuation Cap	Maturity
09/07/2012	$6,000	1.84%	20.0%	$750,000	12/31/2020
04/22/2013	$4,000	1.84%	20.0%	$750,000	12/31/2020
06/09/2014	$20,000	1.84%	20.0%	$750,000	12/31/2020
10/13/2014	$20,000	1.84%	20.0%	$750,000	12/31/2020
01/01/2015	$8,000	2.62%	30.0%	$750,000	12/31/2020
02/05/2016	$5,000	2.62%	20.0%	$750,000	02/15/2021
02/29/2016	$5,000	2.62%	20.0%	$750,000	02/28/2021
03/15/2016	$10,000	2.62%	20.0%	$750,000	03/15/2021
09/26/2016	$10,000	2.62%	20.0%	$1,000,000	09/26/2021

Lender	Issued	Amount	Oustanding	Interest	Maturity	Current?
Marlo Giudice	01/08/2014	$62,854	$20,240	0.0%
Hebrew Free	08/10/2015	$50,000	$16,299	0.0%	08/05/2019	Yes
Kiva Zip	09/11/2015	$10,000	$556	0.0%	09/11/2018	Yes
Square Capital	12/18/2017	$15,000	$9,038	10.0%	06/08/2019	Yes
Jewish Family Childrens Services	03/13/2018	$40,000	$41,564	4.25%	02/01/2023	Yes

Name	Marlo Giudice
Amount Invested	$62,855
Transaction type	Loan
Issued	01/08/2014
Outstanding principal plus interest	$20,240 as of 08/2018
Interest	0.0 per annum
Outstanding	Yes
Current with payments	Yes
Relationship	Founder
in lieu of taking a salary the founder pays herself back on this loan $2k/month.

Name	Ann Gertz
Amount Invested	$5,000
Transaction type	Convertible Note
Issued	02/15/2016
Interest	2.62 per annum
Discount rate	20.0
Maturity	02/15/2021
Valuation cap	$750,000
Relationship	Grandmother of founder

Name	Linda Brady
Amount Invested	$6,000
Transaction type	Convertible Note
Issued	09/07/2012
Interest	1.84 per annum
Discount rate	20.0
Maturity	12/31/2020
Valuation cap	$750,000
Relationship	Mother of founder


Name	Linda Brady
Amount Invested	$4,000
Transaction type	Convertible Note
Issued	04/22/2013
Interest	1.84 per annum
Discount rate	20.0
Maturity	12/31/2020
Valuation cap	$750,000
Relationship	Mother of founder

Name	Linda Brady
Amount Invested	$10,000
Transaction type	Convertible Note
Issued	09/26/2016
Interest	2.62 per annum
Discount rate	20.0
Maturity	09/26/2021
Valuation cap	$750,000
Relationship	Mother of founder

Name	Barry Gertz
Amount Invested	$20,000
Transaction type	Convertible Note
Issued	06/09/2014
Interest	1.84 per annum
Discount rate	20.0
Maturity	12/31/2020
Valuation cap	$750,000
Relationship	Father of founder

Name	Barry Gertz
Amount Invested	$20,000
Transaction type	Convertible Note
Issued	06/09/2014
Interest	2.62 per annum
Discount rate	20.0
Maturity	02/28/2021
Valuation cap	$750,000
Relationship	Father of founder

Name	Vincent Giudice
Amount Invested	$8,000
Transaction type	Convertible Note
Issued	01/01/2015
Interest	2.62 per annum
Discount rate	30.0
Maturity	12/31/2020
Valuation cap	$750,000
Relationship	Husband

Name	Jessie Gertz
Amount Invested	$5,000
Transaction type	Convertible Note
Issued	02/29/2016
Interest	2.62 per annum
Discount rate	20.0
Maturity	02/28/2021
Valuation cap	$750,000
Relationship	Sister of founder

$50,000	42% strategic sales, promotion & distribution; 39% inventory & R&D; 14% professional fee- 5% Wefunder intermediary fee
$350,000	42% towards strategic sales, promotion & distribution; 27% towards Marketing & Sales Ops resources; 20% towards R&D, inventory & bringing new line of products to market; 2% towards digital marketing; 4% professional fees; 5% Wefunder intermediary fee

Class of Security	Securities (or Amount) Authorized	Securities (or Amount) Outstanding	Voting Rights
Preferred Units	3,000,000	653,479	No
Common Units	10,000,000	8,000,000	Yes

Why you may want to support us...

Our Team

And Our Major Accomplishments

Why people love us

Some of our investors

we've raised $401,178 from 73+ investors since our founding

In the news

Downloads

Biting into a Piece of Family History

1,100 Points of Distribution, up from 676 in 2017

Our Journey

Increasing Growth Rate Every Year; On Track for $602K in 2018

Join the Marlo's Bakeshop Community

Investor Q&A

Financials

At a Glance

Risks

Details

The Board of Directors

Officers

Voting Power

Past Equity Fundraises

Convertible Notes Outstanding

Outstanding Debts

Related Party Transactions

Use of Funds

Capital Structure

Form C Filing on EDGAR

Campaign Closing in 2 Weeks!

4 Products Approved for Kings/Balducci Chain!

New! Video Added to Marlo's Bakeshop Campaign- Why You Should Invest With Us

Your Perks Are Coming Soon!

Thank you for your amazing support!

Opening Order Received for 1-800 Baskets.com

Just Finished Best Fancy Food Show Yet!

Placement Secured in 17 Busch's Fresh Food Market

Partnership with LeanBox Launched

Universities in the Pacific Northwest Welcome Marlo's

Midwest Expansion Continues: Buehler's Fresh Foods Brings on 8 Marlo's SKUs

Seasonal Flavors Sampled on TV on Good Day Sacramento

Marlo's Bakeshop was featured on the Meet Your Maker Episode 2 - "The Future is Female"- check out some behind the scenes at the bakery.

6 Products Approved for Bristol Farms

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