The Ledger
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Tynan: An MVP approach cannot work for high-trust custom framing
“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.”
Custom framing cannot work as a lean MVP; quality must be immediate
“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…”
Tynan: Framebridge would not have worked without venture capital
“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…”
Tynan: Framebridge can become big and forecastable enough to IPO
“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.”
Tynan admits she gave up a shocking amount of Framebridge equity
“Yeah, I've given up a tremendous amount of ownership. I think people would be shocked by how much.”
Founder Susan Tynan is not the highest-paid employee at Framebridge
“And I'm not the highest paid member of the team by any stretch.”
Susan Tynan predicts Framebridge will be big and forecastable enough to IPO
“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.”
Tynan: Framebridge originally planned to outsource its first 9,000 frames
“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.”
Tynan: A CFO departure immediately signals internal trouble to observers
“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?”
Tynan: Framebridge sold 100 frames daily while making only 70
“So we started, it was really the daily issue in that we were selling about a hundred frames a day and making about 70.”
Tynan: Home Decor Blogger Triggered Framebridge's First Major Sales Spike
“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.”
Raz: Tighe Savage backed Framebridge in every subsequent round and joined board
“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, …”
Raz: Framebridge has raised about $82 million
“We just checked back with Susan, and she says Framebridge has now raised about eighty-two million dollars.”
Tig Savage invested in every subsequent Framebridge round after his initial rejection
“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.”
Revolution Ventures' Tig Savage passed on Susan Tynan's initial Framebridge seed pitch
“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.”
Framebridge has raised $37 million in total venture funding
“We've raised thirty seven million dollars.”
Local frame shops hold zero inventory, causing multi-week turnarounds and high markups
“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…”
Founder Susan Tynan is not the highest-paid employee at Framebridge
“No, and I'm not the highest paid member of the team by any stretch.”
Tynan: Framebridge took ten months to raise seed funding
“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.”