-100%

est. 2Y upside i

Series D+

Rank

#3798

Sector

FoodTech

Est. Liquidity

~4Y

Data Quality

Data: Low

Equity is deeply underwater due to a $38M preference overhang against an estimated $10M valuation and $3.5M revenue.

Last updated: July 19, 2026

Bull (15%)-100%

Revenue grows modestly from APAC but stays below $5M; exit multiple stays within comp range (2.5x), yet exit value of $8.75M is far below $38M preference, giving common stock -100% return.

Base (55%)-100%

Revenue stagnates at $3.5M, multiples compress to 1x, exit $3.5M; preference wipes out common, yielding -100%.

Bear (30%)-100%

Revenue declines, multiples drop to 0.5x, exit $1.75M; preference stack ensures zero recovery for common.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

38000%

Total funding $38M dwarfs estimated valuation $10M; common equity has no value below a $38M exit.

Dilution Risk

low

Company is profitable and has not raised since 2022, so near-term dilution is unlikely.

Secondary Liquidity

none

No secondary market data; employee shares likely illiquid.

Questions to Ask at the Interview

Strategic questions based on MealPal's data — designed to show you've done your homework.

  • 1

    “How would you differentiate MealPal from DoorDash/Uber Eats in a subscription model?”

  • 2

    “What is the unit economics per meal given the flat fee structure?”

  • 3

    “Given the large preference stack, what is the liquidation preference and implied common share price?”

Community

Valuation Sentiment

Our model estimates -100% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.