Brad Baxter estimates cumulative unit sales for the Litter-Robot a decade after founding the company.
Assertion Not checkable as stated
Competitor LitterMaid offered approximately $200,000 to buy the Litter-Robot patents
“One was from our, the competitor litter made. And if I recall, I think it was a number around 200,000 to buy the patents.”
Insight
Baxter: Automatic litter boxes require sifting waste rather than mechanical raking
“The litter maid was, and again, not to trash them or anything, but it was a very literal approach to the problem. But, It doesn't really break down into its functions and, you know, how can we best solve this problem? And that's what I tried to do. I tried to …”
Insight
Low early sales volume enabled vital product iteration for the Litter-Robot
“I mean, we would have certainly taken more volume if we could have gotten it, but it was kind of a blessing that the volumes were low because it allowed us to kind of take our time and learn and to adjust some things about the product.”
Assertion Not checkable as stated
Baxter financed Litter-Robot retooling via supplier credit and a 12% loan
“Without a bank loan, without, you know, investors, I was actually able to retool the product by amortizing the cost of the tooling with one supplier that I worked with, and then I was able to take out a loan A two-year loan at 12% interest with another supplie…”
Assertion Not checkable as stated
Shipping Litter-Robots overseas cost the same as assembling them locally
“We studied this, and we found out that what it would cost us to ship the product from overseas to our warehouse is what it would cost us to assemble it locally.”
Assertion Not publicly verifiable
Whisker was valued at $55 million during its 2019 private equity deal
“Well, the business at the time was valued at fifty-five million.”