Salguero: ButcherBox launched with $215K raised on Kickstarter
Mike Salguero · Mike Salguero: How I Grew ButcherBox to $600M/year in Revenue; Tips for Influencer Marketing | E998 · 20VC with Harry Stebbings · Apr 5, 2023 · at 27:21
Mike Salguero is the founder and CEO of ButcherBox. He describes how the company got its start prior to scaling via influencer affiliate marketing.
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“We started with a Kickstarter campaign where we raised 215,000 dollars in pre-orders”
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More from Mike Salguero
Salguero: Direct-to-consumer box subscription models are not VC-backable
“Yeah, I don't think so. I mean, the only way, so again, HelloFresh seems to be bolting on other services and going broader than just like, this is what we do. But I think it's a, I'm not sure it's a VC backable model.”
Salguero: Early-stage startups cannot outperform century-old incumbents in distribution
“I think it takes a special kind of entrepreneur to think that you can get into distribution and do it better than somebody who's been in business for a 110 years, like right out of the gate. That's not gonna happen, right?”
Salguero: ButcherBox would be out of business if it raised venture capital
“Actually, I think we'd be out of business if we raised money because we would have raised money in 2015 when it was hot with big valuations, we probably would have raised again. And then when all the money like would not had had to build a profitable business …”
Salguero: The direct-to-consumer startup economy is falling apart
“And I do believe that the DTC economy is kind of falling apart right now. And Or already has, or is about to, and what we're seeing is more and more distressed companies that raised right after COVID, you know, had their 24 months of runway, are trying to tigh…”