Bounce

“We have 65 store locations between New York City and San Francisco.”

“Our customers, we estimate more than half of them buy from our small business partners.”

“So basically we charge six dollars per bag per day with the current model. And we give three dollars now phasing that to two dollars per bag to the store partners.”

“We do offer an insurance policy, 2500 dollars per item stored and we're actually increasing this later this year.”

“We've been in product development mode, came out of that in February, and since then we've been growing 50% month over month.”

“So last month we did 8500 in revenue.”

“So we started out going into every single store. That's the process we use right now, just to make sure we can, someone can walk in and they know that if it's a bounce location, they'll feel safe and secure.”

“Yeah, so I think we're going to be incredibly well positioned to do delivery.”

“Yes, we're raising 1.5 million on a six million cap.”

“So on the consumer side, 70% of our traffic is organic search. We've also looked at Google AdWords. We could get customers for about 12 dollars there. The average transaction size is 15, and we share up to half of that with businesses.”

“So in terms of the unit economics we basically were profitable last month. We're storing over a thousand items a month, and this is pre-mobile app.”

“We have extremely low overhead, and I think that's the beauty of this model. We're able to scale this. We'll be in 10 cities in a year with very minimal costs. And so we could take this really big, really fast with not a ton of capital.”

“I'm gonna reverse, because everything we've brought up, everything we've hit you with, you're, you've seen all these different issues, I'm gonna go in for a 100,000.”

“He's just quirky and strange enough To be onto something with his counterintuitive thinking. And his answers are very good. He's a product guy at heart.”

“I just think moving the stuff around is an unnecessary complication too.”

“I think that if he sees that there's a scalable business in just this first part of it, he's going to come to that place himself, but I'm also going to make that part of this conversation.”

“And, ah, one note there that I'm really excited about actually is Jillian put me in touch with The general counsel of Airbnb. he's actually joining our round, and he put me in touch with the head of insurance.”

“He put in 50.”

“Jillian said she was in for a 100,000. We did a close on Friday, and The Wire with her name came in for 75 K.”

“So we have an intern this summer who's launching DC for us. That's coming in August. In September, we're launching Chicago and Boston.”

“We have 65 store locations between New York City and San Francisco.”

“Yeah, so basically we've been in product development mode, came out of that in February, and since then we've been growing 50% month over month. So last month we did 8500 in revenue.”

“Yeah, we actually had Kmart reach out to us and say, hey, we're interested.”

“I, I'm gonna go in for a 100,000.”

“He invested 50 K on top of the hundred K from Jillian. And by the end of 2018, Cody and his co-founder Alex had raised over a million dollars.”

“We grew six acts throughout the year, and then by the end of the year, we were all over the U.S. And were storing Five figure amounts of bags per month.”

“Ultimately we basically reset the team. We let go of one person, another person quit, and then another person we moved to a contractor status with the idea to terminate a couple months later.”

“We don't have six months to teach someone to get up to speed when an average fundraise gives you 18 months of runway to try to get to, you know, profitability.”

“This company would be putting Bounce in 5000 of its retail stores in the U.S.”

“We were doing, like, I don't know, maybe 10,000 bags in, in a month, so that would be, like, a couple thousand bags in a week, and then the next week maybe it would be, like, 100, and then the next week it was, like, one.”

“I feel like layoffs are something where you avoid them as long as you can, so it's really important to just kind of move forward as fast as possible until things seem more and more inevitable.”

“We got the money on Thursday.”

“For us, it felt more important and more of the right thing to do to not just maintain the team during the PPP period and then Make cuts after that, but to really think about how this can be a lifeline into the future, and how we can have a team through the PPP…”