Prediction Not checkable as stated
Bark Air Aims to Reduce Ticket Prices to $600 Within One Year
“We have line of sight to, how do we get to that 600 dollar ticket? We have very clear line of sight to doing that, I'd say, in the next year.”
Disclosure
Bark Walked Away From an Active 2018 Fundraise to Sustain Itself
“We, I definitely freaked out my board and our investors but walked away from the fundraising round and said, forget it.”
Insight
Meeker: Corporate Executives Often Struggle to Adapt to Early-Stage Startups
“So you have very talented people who are bringing You know, imagine you're running marketing for AT&T one day, and the next day you're trying to start something. You're bringing that approach. And it meant we spent a lot of days in conference rooms talking abo…”
Assertion Not checkable as stated
Meeker Traded Loaded iPods for Meetup Angel Investor Checks
“It was the exact moment where the iPod came out, and we sent notes to all of them, and we said, hey, Matt's gonna come up and pick up your paperwork and your check and if you hand it to him today, he's gonna hand you back an iPod pre-populated with a thousand …”
Assertion Supported
Meetup Launched Globally Across Hundreds of Topics on Day One
“No, it was everywhere. Which probably went as well as that sounds like it would go. You've got a computer in New York City making decisions of how things should go in Moscow. We started with a couple hundred topics, and then we would tell people, it's seven p.…”
Assertion Not checkable as stated
Howard Dean Promised to Plug Meetup at Every Campaign Speech
“That turned into a meeting with Governor Dean and Joe Trippi, his campaign manager, at which they said I intend to run for president, and I don't have a lot of money, but I can promise you this, from now until the day I get out of the race, I will end every sp…”
Assertion Not checkable as stated
BarkBox Sold $15 Groupon Subscriptions Despite Having $20 Box Costs
“If I remember right, we were selling three-month subscriptions for 45 dollars so 15 dollars a month, but you'd probably have a 20 dollar cost of goods in every box.”
Insight
Accepting Venture Capital Forces Founders to Build a Different Business
“I think it meant you're, you come to that fork in the road of, if you're taking venture capital on, you're now deciding to build a different kind of business in a different way.”
Assertion Not checkable as stated
Bark Crushed Copycat Competitors by Deliberately Outspending Them on Ad Channels
“They're usually copying the whole playbook, so taking to Google search or Facebook advertising, and it's easy enough to just lean on them and outspend them. If you're bigger, we'll, we'll bleed you over time, and that happened time after time after time.”
What-if
Bark Founders Ignored Market Sizing and Avoided Data When Choosing Toys
“We never looked at the market data or the market sizing and said, let's go here. If we had, we would have never chosen toys.”
Opinion
Bark Required Its Incoming Pandemic-Era CEO to Commute From Seattle
“And a very good guy that I think we put into difficult spot. You're saying to someone, take on a CEO role. Take it on in the middle of a pandemic. You'll live in Seattle, but you'll commute to New York. That's fun. You won't get the opportunity to meet most of…”
Assertion Supported
Bark Burned $194 Million During Its 2022 Fiscal Year
“So that year ending March 31st, we burned a hundred and ninety-four million dollars, and if we had done that for the next 12 months, that would have been it. We're done. We're gone.”
Assertion Partly supported
Bark Holds a Ten Percent Share of the Dog Toy Market
“And it does get, it gets poo-pooed by a lot of people because, well, that's only three and a half billion dollar industry. And you already own 10% of it.”
Prediction Held up
Meeker Projects Bark Will Achieve Net Profitability This Fiscal Year
“This year, we should make four or five million dollars. And up from there.”
Assertion Not checkable as stated
Meetup Found Its Co-Founder CTO Through a Craigslist Ad
“We put an ad on Craigslist. It was very obnoxious saying interviews are next week. We were looking for a co-founder CTO. If you're not here in New York City next week, then you're, you can't be interviewed, and that's it. Within 24 hours, we had 450 applicants…”
Assertion Not checkable as stated
Early Meetup Saw a 50% In-Person Show Rate from RSVPs
“Worldwide, what we would see is about half of the people who RSVP'd would actually show up.”
Assertion Partly supported
Meetup Took Four Years to Adopt a Subscription Business Model
“It took us probably four years to get to the subscription service.”
Assertion Contradicted
Meetup Reached Profitability and 10 Million Active Users by 2008
“Growing quickly, profitable, supportive investors and board, everything looking very good, and ten million plus active members worldwide every month.”
Assertion Not checkable as stated
Bark Sold Early Subscriptions Using a Phone Mockup and Square Reader
“So I started to carry a square in my pocket, and I'd show people, and they'd give me the reaction. I'd plug the square in, and I'd say, it's live. Swipe your card. And I'd hand, hand the phone to them, and their faces would change. They'd be like, well, so the…”
Disclosure
Bark Launched With $10,000 and No Initial Venture Capital Ambitions
“Henrik and I together put in 10,000 dollars, and it kind of that same story of too much money or money at all. Isn't the type of company we want to build. We want to build something for us and something that's profitable, and this isn't going to be a venture-b…”
Disclosure
Bark Founders Gave Carly Strife a One-Third Equal Equity Stake
“We did an equal chunk of equity. So a third of the company.”
Assertion Supported
BarkBox Reached 15,000 Subscribers by the End of Its First Year
“That first year we thought we were huge, where we ended the year with about 15,000 subscribers.”
Assertion Not checkable as stated
BarkBox Experienced Zero Customer Churn During Its First Four Months
“So I remember the first four months that we were alive, we had no churn, not one subscriber left. Now, not a whole lot of subscribers there, but out of over a hundred, no one left.”
Assertion Not checkable as stated
Bark's Seed Investor Conditioned Funding on Meeker Becoming Full-Time CEO
“In May of 2012, Mike Hirschland, who had started Dogpatch Labs, and Mike and I obviously worked closely while, while I was there, and he reached out and said, I'm starting this new fund. Can I invest in this thing? Can I lead a round for you? But that came wit…”