Pinky Cole has triumphantly regained ownership of Slutty Vegan after a challenging period in February when she temporarily stepped back due to overwhelming financial hurdles, including a staggering $10 million in corporate overhead. The restaurant underwent a significant global restructuring, resulting in a brief loss of ownership for Cole. In 2022, Pinky successfully raised an impressive $25 million through Series A Funding, demonstrating her ability to attract substantial investment. Business owners often seek such external funding to enhance their products and scale their operations, and Series A funding is a critical early stage for established businesses aiming for expansion. It allows entrepreneurs to exchange equity for essential working capital. Some businesses even proceed to secure additional funding rounds known as Series B and Series C. Despite nearing the brink of losing her business, Cole strategically repurchased it after addressing serious financial challenges. At one point, her company’s cash burn soared to an alarming $80,000 per week in payroll and $10 million in overhead. Remarkably, even with eight-figure revenue, the company faced significant deficits. After 45 days of diligently managing business creditors to stabilize finances, she has restructured operations and firmly reassumed control. While she initially felt compelled to surrender the business, she views this experience as a transformative “baptism of business”—a powerful rebirth. Pinky Cole is resolutely confident that Slutty Vegan can evolve into a billion-dollar brand and believes it is poised for incredible success on the right path forward.
