Tiesta Tea Co announced the completion of its $937,000 private placement. Twelve investors participated to the offering and were issued equity. This is the first known offering initiated on the US market by the company which disclosed having revenues below $1 million last year. About $75,000 of the gross proceeds will be paid toward executives’ salaries.
The company created a line of loose-leaf tea designed to appeal to a broad audience. Tea can be purchased on the company’s website as well as at specialty stores throughout the midwest.
Tiesta Tea Co, headquartered in Chicago IL, was founded by 2013 by Daniel “Dan” Klein (CEO) and Patrick Tannous (President). The executive team includes Alex Sosnov (COO), Bobby Moynihan (Creative Director) and Sean Litza (National Sales Manager).