Framebridge

“Well, it turns out Susan managed to change his mind, and Tig's actually invested in Framebridge in every subsequent round. And today, he sits on her board.”

“And I went in, and I went through everything in the deck, and he said, huh, huh, this isn't enough. I just don't think there's enough here that we can make an investment at this time.”

“I really thought, like, there is no Really minimally viable product version of this business. It has to be great out of the gate. Like that, that anything to just test whether the concept worked wouldn't work. We had to do it great. And we had to do it ourselv…”

“We've raised thirty seven million dollars.”

“So for a local store they don't store any inventory. They don't store any of their materials in their store. And so in, or when you go in and you select from the thousand frame styles on the wall the frame store is actually buying those materials for your piec…”

“No, and I'm not the highest paid member of the team by any stretch.”

“Do I think we can be a big enough company to go public? Absolutely. And I think we can be a fundamentally good enough company too, and an understandable enough and a forecastable enough business to go public. Yeah, I believe that.”

“I don't think it would have worked unless we had done it in this really Full way, this really high quality way, and the money allowed me to recruit truly the best people, these terrific people, and use very good materials, and, you know, have a very open liber…”

“Do I think we can be a big enough company to go public? Absolutely. And I think we can be a fundamentally good enough company to and an understandable enough and a forecastable enough business to go public. Yeah, I believe that.”

“The plan was to build an app and a website and to find some framer friends to do the initial production. And I remember we said for the first 9000 frames, I don't know why we said that, but the first 9000 frames, we'll just find someone who'll do it for us.”

“Anyone who's ever worked for a business knows that people watch what the CFO does, because, I mean, you're like, what's going on there if your CFO leaves?”

“Meetings wise, it was, you know, 10 months, but really intensely, probably about four months which felt Really grueling, but I think is, is, you know, as these things go, sort of an easy run.”

“So we started, it was really the daily issue in that we were selling about a hundred frames a day and making about 70.”

“Late October, someone, a home decor blogger, wrote a blog post, and we had our first real sales spike of a day and that was the first day we thought, okay, like, it's on.”

“We got money end of February. By April, we signed a lease on a facility, on a production facility. And July, we did a soft launch.”

“And that first investor she pitched, Tighe Savage of Revolution Ventures, the one who encouraged her to start the company and then told her he wasn't ready to invest, Well, he did change his mind. He actually invested in Framebridge in every subsequent round, …”

“We just checked back with Susan, and she says Framebridge has now raised about eighty-two million dollars.”

“We raised a million and a half dollars. So we were going to raise a real round, you know, a real seed round out of the gates.”

“Yeah, I've given up a tremendous amount of ownership. I think people would be shocked by how much.”

“And I'm not the highest paid member of the team by any stretch.”

“There is no Really minimally viable product version of this business. It has to be great out of the gate. Like that, that anything to just test whether the concept worked wouldn't work. We had to do it great. And we had to do it ourselves.”