Dan Bastian recounts how he funded raw materials after maxing out Angie's BOOMCHICKAPOP's credit lines during their 2008 retail expansion.
Disclosure
Angie's BOOMCHICKAPOP financed the business with debt until $10 million revenue
“I mean, we financed everything on our own up until ten million. I mean, we had loans and we had a lot of debt and we went, you know, really, I think around the one million mark is when we went to a bank and got financing to build out our plant.”
What-if
Dan Bastian: We would take more personal time if building BOOMCHICKAPOP again
“And I think both Ange and I probably would have tried to spend more time with each other, taking a step back. For us, it really did damage to us in, in the sense of just Physically, you know, our bodies, and emotionally, and all of that, and I think, you know,…”
Disclosure
Sherbrooke Capital took minority stake in Angie's without altering operations
“I mean, that's what happened with us, with Sherbrooke Capital, and They took a minority position, and we ran the company no different than when we did before they came on.”
Assertion Not checkable as stated
Trader Joe's initial Angie's order was 25 truckloads worth up to $500,000
“She put in an order for 25 trucks... That was What, four or 500,000 dollars worth.”
Assertion Not publicly verifiable
Angie's BOOMCHICKAPOP revenue reached $3 million to $4 million around 2008
“Maybe three, four million.”
Assertion Not checkable as stated
Trader Joe's initial BOOMCHICKAPOP order was 25 trucks worth up to $500,000
“She put in an order for 25 trucks.
That was
What, four or 500,000 dollars worth. It was crazy.”