T/A Happy Cow Milk Co
By Glen Herud
PledgeMe.Investment
Food,
NZ $279,512 pledged
258 people pledged
Closed
NZ $200,000 minimum target
This campaign was successful and closed on 27/11/2022 at 7:00 PM.
Make a PledgeAbout
T/A Happy Cow Milk Co
Caring, Kinder, Fairer Dairy
With our community's support, we’ve created our “Milk Factory in a Box”. A low-cost milk processing system that enables “non-experts” to pasteurise milk safely and efficiently.
It’s now easier for the good dairy farmers of the world to provide fresh local milk to customers who want to support more caring, kinder and greener dairy practices.
We’ve proven better dairy is also better business. Farmers who sell direct to customers can earn twice as much for their milk. With less than $1m of seed funding, we’ve made the world’s first milk factory and business in a box. We’ve installed it onto our first farmer’s property and we are generating revenue.
We believe we’re now on the path to sustainable, profitable growth.
We’re launching our second farm in January 2023 and will launch our first international farmer based in California in the same year. We’re aiming for an annual recurring revenue (ARR) of $1,414,870 by 2024 which will be generated from 7 farms and we expect to grow to a total of 19 farms operating in the 2025 year with a ARR of $2,662,410.
Our longer term plans are to grow to 500 farms and $50m ARR over the following years. This investment round will put us in a position to achieve these goals.
Thank you for being part of this journey. We look forward to reaching our dream of being the world leaders in sustainable and ethical dairy.
Glen Herud
Founder
The Problem
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|
|
|
|
1.The system rewards the production of bad milk. We think the current system encourages farmers to produce the highest amount of milk at the lowest possible cost. The result is farmers are incentivised to get more from the cows and more from the land while also trying to spend as little as possible.
When a farmer chooses to make a change for good, such as reducing stock intensity or increase animal welfare costs. They are financially penalised for doing so. Currently, doing good means making less money.
|
2. Consumers don't get the chance to buy good milk.
The milk from good and bad farmers goes into the same tankers. Drinkers have no way of buying milk from just the good farmers. It’s also really hard for customers to know if they are buying milk from great farmers. In our experience, even the fancy branded milk don’t really say what goes on behind the farm gate.
Customers want the option to buy milk from just the good farmers and not subsidise poor farming practices. |
3. It's really hard for farmers to sell good milk.
Good farmers would love to sell their milk to their local communities. They can make a lot more money. But it’s actually really hard to do. They have to become milk processors which means they have to become experts in food safety regulations and paperwork. They have to solve milk distribution problems, they have to become salespeople as well as learning how to market their milk too.
It’s often too hard, too expensive and too risky for a farmer to even try. |
The Solution
A system that makes it easy for good farmers to sell good milk direct to good people.
 |
 |
 |
 |
 |
 |
We’ve built the technology, pioneered the model and proven the economics. Now we’re ready to take the idea to the world.
How Happy Cow Milk Works?
Happy Cow Milk Co is a hardware and software company with a SaaS and franchise system model.
Farmers pay a royalty for ongoing use of the technology, platform and brand.
 |
 |
 |
| Farmers purchase our equipment | Farmers start selling milk | Happy Cow Milk earns a royalty on milk sold |
Where we are today
 |
 |
 |
 |
 |
|
World first tech |
Paying farmer who is selling milk |
Built out onboarding & franchise system |
Two farms ready to go |
Raising to convert demand
|
Built the system |
Onboarded customer | Proven the model | Generated pipeline | Now raising to convert |
We are generating a lot of interest from farmers around the world. Our plan is to turn these farmers into customers, generating $2.6m of annual revenue.
We have the technology, team, customers, and systems - all ready to go.
Our Plan- $50m annual revenue from 500 farmers
We can build a big business with a small number of farmers & small number of cows.
 |
 |
 |
Leadership to change dairy
 |
 |
 |
 |
| Glen Herud Founder |
David Trought CTO |
Sam Webber Software Engineer |
Sarah Young CFO |
Why we are crowdfunding
Happy Cow Milk has always been supported by our passionate crowd.
People like you who were willing to invest in a belief that there is a better way. This is why, when it came time to fund Happy Cow Milk, we turned to the people who supported and believed in this idea from the beginning.
The first round of equity crowdfunding took place in November 2019 and sold out in just eight hours with many keen investors missing out.
Our crowd invested a further $566,000 in August 2021 and now we're coming back to the crowd for a third time to raise funds for the next phase - become profitable and start scaling.
We've got big plans for caring, kinder, fairer dairy and we can't do it alone.
Together, we're transforming a business into a movement!
Our share offer
We are offering up to 250,000 shares at $4.00 each. The minimum total amount required to be raised under this offer is $200,000 (50,000 shares).
Shares issued will be non-voting ordinary shares, ranking equally with all other existing non-voting ordinary shares and carrying the following rights:
- The right to an equal share in dividends and other distributions made by Happy Herd Milk Company Limited (subject to the rights of any other class of share)
- The right to an equal share in the distribution of surplus assets of Happy Herd Milk Company Limited. You can read more about the rights attached to shares in our Constitution.
Use of funds
If our minimum raise of $200K is achieved we intend to revert to a more conservative business plan.
This plan aims to enable us to reach profitability but we won’t have the resources to scale and continue R&D spending.
$1m will allow us to continue R&D development and grow the team to build the systems enabling us to grow.
We need to spend more on R&D to get our dispenser and app better suited to multiple customer types. The aim is to make it easier for customers to buy our milk and therefore easier for farmers to sell milk.
Risks
What if people don’t buy enough milk?
Happy Cow Milk traded for 3 years between 2014 to 2018. Demand for our milk was never an issue. We are currently receiving customer enquiries almost daily without any marketing effort. We have a waiting list of customers in different cities.
What if the technology doesn’t work?
Our plan is to start small, running the first system with our own in-house team. This helps us to work through any bugs or technical problems before we expand to include outside farms.
What if we can’t get farmers on board?
We’ve already got 130 farmers across the country who have signed up to our email updates and 14 who have expressed their interest in joining Happy Cow Milk and two farmers ready to join in 2023.
We aim to start our in-house farm in 2023, we expect to be able to demonstrate the ease and profitability of the system to bring more farmers onboard. Happy Cow Milk intends to find retailers and customers for farmers before they come onboard. This eases the difficulty and risk for coming on board.
What about trademark infringement?
There is another brand in the dairy category which has “Happy Cow” in their name, of which they have trademarked. For this reason, it is unlikely we will be able to trademark the Happy Cow Milk Company name.
We do have a trademark for our logo. The official name of our entity is Happy Herd Milk Company Ltd. In the event that a challenge was raised, we would revert to Happy Herd Milk Company Ltd.
What if someone else copies our idea?
We’ve taken steps to protect our “Milk Factory in a Box“ by filing a provisional patent. Ultimately, an idea is not as valuable as execution, so getting to market is the best protection for Happy Cow Milk. As we build relationships between individual farmers and consumers, this trust creates another layer of security for the company.
What if we run out of money?
Our conservative plan starts with a small raise now that enables us to launch our in-house farm. Our goal is for this farm to get us to break even. We intend to have two farms running, a working system with solid market validation will likely be an attractive investment for a wide range of investors.
A warning about crowdfunding
PledgeMe is licensed and regulated by the Financial Markets Authority, and the share offer made by Happy Cow Milk will only be available for acceptance through the PledgeMe website.
Equity crowdfunding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks. You may lose your entire investment, and must be in a position to bear this risk without undue hardship. New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.
The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment. Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.
Warning statement for wholesale investors including those investing NZD $750,000 or more:
New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.
The usual rules do not apply to wholesale offers because there is an exclusion for offers made to wholesale investors (within the meaning of that term in the Financial Markets Conduct Act 2013), including where the amount invested upfront by the investor (plus any other investments the investor has already made in the financial products) is $750,000 or more.
Please ensure you have read and understood the Wholesale Investor warning statement provided by the Issuer in the Investment Memorandum.
A note from PledgeMe
We have completed checks on Happy Herd Milk Co. Ltd and its directors, as set out in our Disclosure Statement. These checks are limited in scope - for further information on what they cover, please see our Disclosure Statement. There were no adverse findings.
Updates 6
An update from PledgeMe - Happy Cow Milk
16/12/2022 at 1:16 PM
Kia ora koutou!
We are working to verify all new shareholders of Happy Herd Milk Co and collect funds.
We have completed approximately 98% of this work.
Thanks again, for supporting the things that Kiwis care about.
Ngā mihi,
The PledgeMe team
An update from PledgeMe - Happy Cow Milk
02/12/2022 at 8:29 AM
Kia ora koutou!
We are working to verify all new shareholders of Happy Cow Milk, and collect funds.
We have completed approximately 90% of this work.
Thanks again, for supporting the things that Kiwis care about.
Ngā mihi,
The PledgeMe team
Heading North - Opening outlets in Hamilton & Auckland
15/11/2022 at 10:12 PM
Hi All
Since we have hit our minimum target, Angelica and I are wasting no time. We are heading to the North Island to open new outlets in Hamilton and Auckland.
We'll be posting regularly to our social media channels and we will be adding a "where to buy" page to our website so it's easy for people to find their nearest Happy Cow Milk retailer.
Thank you all for your investment which is enabling this growth.
Cheers,
Glen
We've hit our minimum!
01/11/2022 at 1:13 PM
Over the weekend we reached our minimum goal of $200,000.
Thank you to all of you who have made a pledge and I appreciate all those who have invested for a second or third time.
It's very encouraging to me to read the comments you make when you pledge. Thank you all for your words of encouragement.
We're not waiting for the campaign to finish before we take action. We're full steam ahead with our plans.
We have a short window before the Christmas break and I plan to make the most of that time and hit the new year at full steam.
I'll be announcing some new outlets in the Auckland and Hamilton regions in the weeks to come.
Cheers
Glen
Warm welcome to the Happy Cow family :)
27/10/2022 at 2:35 PM
Hey everyone,
A quick message to say hello and a warm welcome to the Happy Cow family. I am so grateful to have all of you onboard!
We are all enjoying reading your kind messages, thank you. It inspires us to keep going 😊
The campaign has started with great success and at day two, we are so close to reach our goal of $200k and that’s fantastic.
Also, it’s been great to see so many existing shareholders investing again! Thank you for your ongoing support. At the end of the campaign, you will be able to see all your shares in the Orchestra shareholder management system. If you have not been setup in Orchestra, please email me.
On another note, I did an interview with Business Desk which was published yesterday. I talked about our third crowdfunding campaign and our plans to turn a kinder, fairer, greener dairy into a reality for New Zealand and the World!
In case you want to read it, this is the link of the article:
If you have any questions, feel free to message me at [email protected]
Cheers,
Glen
Investment Memorandum Walkthrough Video
25/10/2022 at 8:51 AM
In this video, I walk through our investment Memorandum and explain in more detail how the Happy Cow Milk business model works.
I discuss the financial projections and how we plan to expand globally.
If you have any questions, feel free to post them here on the PledgeMe site or email me [email protected]
Thanks
Glen
Details
Offer Details
| Current Valuation | 7,763,868 |
| Raise Minimum | 200,000 |
| Raise Maximum | 1,000,000 |
| Share Price | 4.00 |
| Minimum Pledge | 100.00 |
| Maximum Shares Offered | 250,000 |
Explanation of valuation:
Our pre-raise valuation of $7,763,868.00 has been created with the help of our advisors. It is based on the Berkus method of valuation, which is commonly used by venture capitalists to create valuations for pre-revenue start-ups.
Financial Summary
| Prev Year | Current Year | Est. FY 2026 | Est. FY 2027 | |
|---|---|---|---|---|
| Revenue | NZ $24,505 | NZ $231,264 | NZ $2,371,870 | NZ $4,576,410 |
| Operating Expenses | NZ $325,700 | NZ $705,150 | NZ $2,620,765 | NZ $4,068,765 |
| EBITDA | NZ $ | NZ $ | NZ $ | NZ $ |
| Net Profit | -NZ $301,195 | -NZ $473,886 | -NZ $248,895 | NZ $507,645 |
Company Details
Company Name: Happy Herd Milk Company Limited
Company Number: 7038037
Company Documents
Director Details
| Name | Role | Profile URL | Invested? |
|---|---|---|---|
| Glen Herud | Director, Founder | https://www.linkedin.com/in/glen-herud-7abb192b/ | ✗ |
Questions 3
Hi Glen.
Why not just call the company Happy Herd now before the company grows bigger and not have the cost of a name change later?
Hi Geoffrey
Yes, good point. The important part is that our logo has been traded marked. The logo is the distinctive aspect of the brand. Whether we are called Happy Cow or Happy Herd is probably less important.
I do plan to do a full brand review with a professional agency and this topic will be addressed.
The other thing to consider is we are also co-branding with the farmers.
There needs to be some thought into how we do this. I.e is the main brand Happy Cow Milk including XYZ farmer or is the XYZ farmer the main brand supported by Happy Cow Milk?
We'll solve this problem once we are profitable.
Cheers
Glen
Answered on 29-10-2022 by Glen Herud
Any reason the previous campaign on pledgeme is no longer available to view? I can see the first one, however the second one goes to an error page.
Posted on 26-10-2022 by SteveHi Steve.
It gave me an error message when I tried to access it via Chrome. I swapped browsers to Safari and it's displaying fine.
Try a different browser.
Cheers
Glen
Answered on 26-10-2022 by Glen Herud
Sorry to have missed all the information sessions.
Keen to continue to support your awesome mahi. Would like to know the valuation of shares has been done. Essentially, understandably $1 a share initially, on what basis is it now $4 when still building momentum and share values around the world are down 20% over past 9 months? What might a dividend payout look like in the future?
Thanks and aroha mai again for the last minute question
Andrew
Hi Andrew
This is a good question and one many people wonder.
I consider ourselves a global technology company that can scale our platform around the world easily.
As I noted in the IM our initial (big) goal is 500 farmers and $50 million in revenue.
As such I’ve used the valuation metrics that are common within the venture capital business.
A good explanation of valuation and stage of business can be found at https://hillfarrance.com/resources/ Download the “startup fundraising checklist”.
I feel Happy Cow Milk is roughly in between the "Angel" and "Seed stage" that is outlined in the above document.
The other point I'll make is that it is becoming clear to many farmers around the world that they need to reduce their cow numbers to meet regulations but also increase revenue to stay viable.
This is exactly what Happy Cow Milk offers to farmers. This is very good timing for us.
Our projections show that we become quite a profitable business once we have 19 farmers using our system.
At that stage, we will consider paying dividends.
But it may be better to reinvest all the profits into further growth which will increase the share value. But we will likely survey our shareholders at that time and see what the majority would like to do.
Cheers
Glen
Answered on 25-10-2022 by Glen Herud
Pledgers 258
27/11/2022 at 6:47pm
27/11/2022 at 6:47pm
27/11/2022 at 6:39pm
"So exciting to watch you make this happen! Thank you!"
27/11/2022 at 6:16pm
"Let’s make the dairy industry a kinder and fairer one! Allowing cows and calves to have a better life. Make Happy Cow the new ‘normal’. "
27/11/2022 at 5:55pm
27/11/2022 at 5:30pm
27/11/2022 at 5:20pm
27/11/2022 at 4:52pm
27/11/2022 at 4:40pm
27/11/2022 at 3:59pm
27/11/2022 at 3:31pm
27/11/2022 at 3:31pm
"I support happy cows!"
27/11/2022 at 3:23pm
"Proud to be able to get behind what is hopefully the start of something really special after following you guys from the start!"
27/11/2022 at 2:29pm
27/11/2022 at 2:11pm
27/11/2022 at 1:23pm
"Best wishes "
27/11/2022 at 1:20pm
27/11/2022 at 12:52pm
27/11/2022 at 12:31pm
27/11/2022 at 12:28pm
27/11/2022 at 12:09pm
27/11/2022 at 11:14am
27/11/2022 at 11:07am
27/11/2022 at 10:52am
"All the best!"
27/11/2022 at 10:43am
27/11/2022 at 10:40am
27/11/2022 at 10:27am
27/11/2022 at 10:25am
27/11/2022 at 10:21am
27/11/2022 at 10:21am
Followers 35
Followers of T/A Happy Cow Milk Co
T/A Happy Cow Milk Co
Caring, Kinder, Fairer Dairy
With our community's support, we’ve created our “Milk Factory in a Box”. A low-cost milk processing system that enables “non-experts” to pasteurise milk safely and efficiently.
It’s now easier for the good dairy farmers of the world to provide fresh local milk to customers who want to support more caring, kinder and greener dairy practices.
We’ve proven better dairy is also better business. Farmers who sell direct to customers can earn twice as much for their milk. With less than $1m of seed funding, we’ve made the world’s first milk factory and business in a box. We’ve installed it onto our first farmer’s property and we are generating revenue.
We believe we’re now on the path to sustainable, profitable growth.
We’re launching our second farm in January 2023 and will launch our first international farmer based in California in the same year. We’re aiming for an annual recurring revenue (ARR) of $1,414,870 by 2024 which will be generated from 7 farms and we expect to grow to a total of 19 farms operating in the 2025 year with a ARR of $2,662,410.
Our longer term plans are to grow to 500 farms and $50m ARR over the following years. This investment round will put us in a position to achieve these goals.
Thank you for being part of this journey. We look forward to reaching our dream of being the world leaders in sustainable and ethical dairy.
Glen Herud
Founder
The Problem
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|
|
|
|
1.The system rewards the production of bad milk. We think the current system encourages farmers to produce the highest amount of milk at the lowest possible cost. The result is farmers are incentivised to get more from the cows and more from the land while also trying to spend as little as possible.
When a farmer chooses to make a change for good, such as reducing stock intensity or increase animal welfare costs. They are financially penalised for doing so. Currently, doing good means making less money.
|
2. Consumers don't get the chance to buy good milk.
The milk from good and bad farmers goes into the same tankers. Drinkers have no way of buying milk from just the good farmers. It’s also really hard for customers to know if they are buying milk from great farmers. In our experience, even the fancy branded milk don’t really say what goes on behind the farm gate.
Customers want the option to buy milk from just the good farmers and not subsidise poor farming practices. |
3. It's really hard for farmers to sell good milk.
Good farmers would love to sell their milk to their local communities. They can make a lot more money. But it’s actually really hard to do. They have to become milk processors which means they have to become experts in food safety regulations and paperwork. They have to solve milk distribution problems, they have to become salespeople as well as learning how to market their milk too.
It’s often too hard, too expensive and too risky for a farmer to even try. |
The Solution
A system that makes it easy for good farmers to sell good milk direct to good people.
|
|
|
|
|
|
We’ve built the technology, pioneered the model and proven the economics. Now we’re ready to take the idea to the world.
How Happy Cow Milk Works?
Happy Cow Milk Co is a hardware and software company with a SaaS and franchise system model.
Farmers pay a royalty for ongoing use of the technology, platform and brand.
|
|
|
| Farmers purchase our equipment | Farmers start selling milk | Happy Cow Milk earns a royalty on milk sold |
Where we are today
|
|
|
|
|
|
World first tech |
Paying farmer who is selling milk |
Built out onboarding & franchise system |
Two farms ready to go |
Raising to convert demand
|
Built the system |
Onboarded customer | Proven the model | Generated pipeline | Now raising to convert |
We are generating a lot of interest from farmers around the world. Our plan is to turn these farmers into customers, generating $2.6m of annual revenue.
We have the technology, team, customers, and systems - all ready to go.
Our Plan- $50m annual revenue from 500 farmers
We can build a big business with a small number of farmers & small number of cows.
|
|
|
Leadership to change dairy
|
|
|
|
| Glen Herud Founder |
David Trought CTO |
Sam Webber Software Engineer |
Sarah Young CFO |
Why we are crowdfunding
Happy Cow Milk has always been supported by our passionate crowd.
People like you who were willing to invest in a belief that there is a better way. This is why, when it came time to fund Happy Cow Milk, we turned to the people who supported and believed in this idea from the beginning.
The first round of equity crowdfunding took place in November 2019 and sold out in just eight hours with many keen investors missing out.
Our crowd invested a further $566,000 in August 2021 and now we're coming back to the crowd for a third time to raise funds for the next phase - become profitable and start scaling.
We've got big plans for caring, kinder, fairer dairy and we can't do it alone.
Together, we're transforming a business into a movement!
Our share offer
We are offering up to 250,000 shares at $4.00 each. The minimum total amount required to be raised under this offer is $200,000 (50,000 shares).
Shares issued will be non-voting ordinary shares, ranking equally with all other existing non-voting ordinary shares and carrying the following rights:
- The right to an equal share in dividends and other distributions made by Happy Herd Milk Company Limited (subject to the rights of any other class of share)
- The right to an equal share in the distribution of surplus assets of Happy Herd Milk Company Limited. You can read more about the rights attached to shares in our Constitution.
Use of funds
If our minimum raise of $200K is achieved we intend to revert to a more conservative business plan.
This plan aims to enable us to reach profitability but we won’t have the resources to scale and continue R&D spending.
$1m will allow us to continue R&D development and grow the team to build the systems enabling us to grow.
We need to spend more on R&D to get our dispenser and app better suited to multiple customer types. The aim is to make it easier for customers to buy our milk and therefore easier for farmers to sell milk.
Risks
What if people don’t buy enough milk?
Happy Cow Milk traded for 3 years between 2014 to 2018. Demand for our milk was never an issue. We are currently receiving customer enquiries almost daily without any marketing effort. We have a waiting list of customers in different cities.
What if the technology doesn’t work?
Our plan is to start small, running the first system with our own in-house team. This helps us to work through any bugs or technical problems before we expand to include outside farms.
What if we can’t get farmers on board?
We’ve already got 130 farmers across the country who have signed up to our email updates and 14 who have expressed their interest in joining Happy Cow Milk and two farmers ready to join in 2023.
We aim to start our in-house farm in 2023, we expect to be able to demonstrate the ease and profitability of the system to bring more farmers onboard. Happy Cow Milk intends to find retailers and customers for farmers before they come onboard. This eases the difficulty and risk for coming on board.
What about trademark infringement?
There is another brand in the dairy category which has “Happy Cow” in their name, of which they have trademarked. For this reason, it is unlikely we will be able to trademark the Happy Cow Milk Company name.
We do have a trademark for our logo. The official name of our entity is Happy Herd Milk Company Ltd. In the event that a challenge was raised, we would revert to Happy Herd Milk Company Ltd.
What if someone else copies our idea?
We’ve taken steps to protect our “Milk Factory in a Box“ by filing a provisional patent. Ultimately, an idea is not as valuable as execution, so getting to market is the best protection for Happy Cow Milk. As we build relationships between individual farmers and consumers, this trust creates another layer of security for the company.
What if we run out of money?
Our conservative plan starts with a small raise now that enables us to launch our in-house farm. Our goal is for this farm to get us to break even. We intend to have two farms running, a working system with solid market validation will likely be an attractive investment for a wide range of investors.
A warning about crowdfunding
PledgeMe is licensed and regulated by the Financial Markets Authority, and the share offer made by Happy Cow Milk will only be available for acceptance through the PledgeMe website.
Equity crowdfunding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks. You may lose your entire investment, and must be in a position to bear this risk without undue hardship. New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.
The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment. Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.
Warning statement for wholesale investors including those investing NZD $750,000 or more:
New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.
The usual rules do not apply to wholesale offers because there is an exclusion for offers made to wholesale investors (within the meaning of that term in the Financial Markets Conduct Act 2013), including where the amount invested upfront by the investor (plus any other investments the investor has already made in the financial products) is $750,000 or more.
Please ensure you have read and understood the Wholesale Investor warning statement provided by the Issuer in the Investment Memorandum.
A note from PledgeMe
We have completed checks on Happy Herd Milk Co. Ltd and its directors, as set out in our Disclosure Statement. These checks are limited in scope - for further information on what they cover, please see our Disclosure Statement. There were no adverse findings.
An update from PledgeMe - Happy Cow Milk
16/12/2022 at 1:16 PM
Kia ora koutou!
We are working to verify all new shareholders of Happy Herd Milk Co and collect funds.
We have completed approximately 98% of this work.
Thanks again, for supporting the things that Kiwis care about.
Ngā mihi,
The PledgeMe team
An update from PledgeMe - Happy Cow Milk
02/12/2022 at 8:29 AM
Kia ora koutou!
We are working to verify all new shareholders of Happy Cow Milk, and collect funds.
We have completed approximately 90% of this work.
Thanks again, for supporting the things that Kiwis care about.
Ngā mihi,
The PledgeMe team
Heading North - Opening outlets in Hamilton & Auckland
15/11/2022 at 10:12 PM
Hi All
Since we have hit our minimum target, Angelica and I are wasting no time. We are heading to the North Island to open new outlets in Hamilton and Auckland.
We'll be posting regularly to our social media channels and we will be adding a "where to buy" page to our website so it's easy for people to find their nearest Happy Cow Milk retailer.
Thank you all for your investment which is enabling this growth.
Cheers,
Glen
We've hit our minimum!
01/11/2022 at 1:13 PM
Over the weekend we reached our minimum goal of $200,000.
Thank you to all of you who have made a pledge and I appreciate all those who have invested for a second or third time.
It's very encouraging to me to read the comments you make when you pledge. Thank you all for your words of encouragement.
We're not waiting for the campaign to finish before we take action. We're full steam ahead with our plans.
We have a short window before the Christmas break and I plan to make the most of that time and hit the new year at full steam.
I'll be announcing some new outlets in the Auckland and Hamilton regions in the weeks to come.
Cheers
Glen
Warm welcome to the Happy Cow family :)
27/10/2022 at 2:35 PM
Hey everyone,
A quick message to say hello and a warm welcome to the Happy Cow family. I am so grateful to have all of you onboard!
We are all enjoying reading your kind messages, thank you. It inspires us to keep going 😊
The campaign has started with great success and at day two, we are so close to reach our goal of $200k and that’s fantastic.
Also, it’s been great to see so many existing shareholders investing again! Thank you for your ongoing support. At the end of the campaign, you will be able to see all your shares in the Orchestra shareholder management system. If you have not been setup in Orchestra, please email me.
On another note, I did an interview with Business Desk which was published yesterday. I talked about our third crowdfunding campaign and our plans to turn a kinder, fairer, greener dairy into a reality for New Zealand and the World!
In case you want to read it, this is the link of the article:
If you have any questions, feel free to message me at [email protected]
Cheers,
Glen
Investment Memorandum Walkthrough Video
25/10/2022 at 8:51 AM
In this video, I walk through our investment Memorandum and explain in more detail how the Happy Cow Milk business model works.
I discuss the financial projections and how we plan to expand globally.
If you have any questions, feel free to post them here on the PledgeMe site or email me [email protected]
Thanks
Glen
Offer Details
| Current Valuation | 7,763,868 |
| Raise Minimum | 200,000 |
| Raise Maximum | 1,000,000 |
| Share Price | 4.00 |
| Minimum Pledge | 100.00 |
| Maximum Shares Offered | 250,000 |
Explanation of valuation:
Our pre-raise valuation of $7,763,868.00 has been created with the help of our advisors. It is based on the Berkus method of valuation, which is commonly used by venture capitalists to create valuations for pre-revenue start-ups.
Financial Summary
| Prev Year | Current Year | Est. FY 2026 | Est. FY 2027 | |
|---|---|---|---|---|
| Revenue | NZ $24,505 | NZ $231,264 | NZ $2,371,870 | NZ $4,576,410 |
| Operating Expenses | NZ $325,700 | NZ $705,150 | NZ $2,620,765 | NZ $4,068,765 |
| EBITDA | NZ $ | NZ $ | NZ $ | NZ $ |
| Net Profit | -NZ $301,195 | -NZ $473,886 | -NZ $248,895 | NZ $507,645 |
Company Details
Company Name: Happy Herd Milk Company Limited
Company Number: 7038037
Company Documents
Director Details
| Name | Role | Profile URL | Invested? |
|---|---|---|---|
| Glen Herud | Director, Founder | https://www.linkedin.com/in/glen-herud-7abb192b/ | ✗ |
Hi Glen.
Why not just call the company Happy Herd now before the company grows bigger and not have the cost of a name change later?
Hi Geoffrey
Yes, good point. The important part is that our logo has been traded marked. The logo is the distinctive aspect of the brand. Whether we are called Happy Cow or Happy Herd is probably less important.
I do plan to do a full brand review with a professional agency and this topic will be addressed.
The other thing to consider is we are also co-branding with the farmers.
There needs to be some thought into how we do this. I.e is the main brand Happy Cow Milk including XYZ farmer or is the XYZ farmer the main brand supported by Happy Cow Milk?
We'll solve this problem once we are profitable.
Cheers
Glen
Answered on 29-10-2022 by Glen Herud
Any reason the previous campaign on pledgeme is no longer available to view? I can see the first one, however the second one goes to an error page.
Posted on 26-10-2022 by SteveHi Steve.
It gave me an error message when I tried to access it via Chrome. I swapped browsers to Safari and it's displaying fine.
Try a different browser.
Cheers
Glen
Answered on 26-10-2022 by Glen Herud
Sorry to have missed all the information sessions.
Keen to continue to support your awesome mahi. Would like to know the valuation of shares has been done. Essentially, understandably $1 a share initially, on what basis is it now $4 when still building momentum and share values around the world are down 20% over past 9 months? What might a dividend payout look like in the future?
Thanks and aroha mai again for the last minute question
Andrew
Hi Andrew
This is a good question and one many people wonder.
I consider ourselves a global technology company that can scale our platform around the world easily.
As I noted in the IM our initial (big) goal is 500 farmers and $50 million in revenue.
As such I’ve used the valuation metrics that are common within the venture capital business.
A good explanation of valuation and stage of business can be found at https://hillfarrance.com/resources/ Download the “startup fundraising checklist”.
I feel Happy Cow Milk is roughly in between the "Angel" and "Seed stage" that is outlined in the above document.
The other point I'll make is that it is becoming clear to many farmers around the world that they need to reduce their cow numbers to meet regulations but also increase revenue to stay viable.
This is exactly what Happy Cow Milk offers to farmers. This is very good timing for us.
Our projections show that we become quite a profitable business once we have 19 farmers using our system.
At that stage, we will consider paying dividends.
But it may be better to reinvest all the profits into further growth which will increase the share value. But we will likely survey our shareholders at that time and see what the majority would like to do.
Cheers
Glen
Answered on 25-10-2022 by Glen Herud
Followers of T/A Happy Cow Milk Co
27/11/2022 at 6:47pm
27/11/2022 at 6:47pm
27/11/2022 at 6:39pm
"So exciting to watch you make this happen! Thank you!"
27/11/2022 at 6:16pm
"Let’s make the dairy industry a kinder and fairer one! Allowing cows and calves to have a better life. Make Happy Cow the new ‘normal’. "
27/11/2022 at 5:55pm
27/11/2022 at 5:30pm
27/11/2022 at 5:20pm
27/11/2022 at 4:52pm
27/11/2022 at 4:40pm
27/11/2022 at 3:59pm
27/11/2022 at 3:31pm
27/11/2022 at 3:31pm
"I support happy cows!"
27/11/2022 at 3:23pm
"Proud to be able to get behind what is hopefully the start of something really special after following you guys from the start!"
27/11/2022 at 2:29pm
27/11/2022 at 2:11pm
27/11/2022 at 1:23pm
"Best wishes "
27/11/2022 at 1:20pm
27/11/2022 at 12:52pm
27/11/2022 at 12:31pm
27/11/2022 at 12:28pm
27/11/2022 at 12:09pm
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27/11/2022 at 10:52am
"All the best!"
27/11/2022 at 10:43am
27/11/2022 at 10:40am
27/11/2022 at 10:27am
27/11/2022 at 10:25am
27/11/2022 at 10:21am
27/11/2022 at 10:21am
I want to embed this investment somewhere
