Alli Webb, co-founder of Drybar, discusses the difficulty of pitching the standalone blowout salon model to male venture capitalists in the company's early days.
Insight
Webb: Hybrid franchise and company-owned models create competing organizational needs
“I wouldn't recommend it, what, the way we did it, because what we did was, like, we were basically now running two different organizations. One was, like, franchise, and one was company owned, and so the needs of those two stores were quite different, and mana…”
Assertion Supported
Webb: Drybar sold its product division for $255 million
“You know, I don't know if you're, you know this, but like we sold the product division for two hundred and fifty five million. We didn't sell the whole enchilada for, which is an important distinction”
Disclosure
Webb: Drybar refused investor requests to add makeup or lashes
“Our investors and even clients are always like, oh, you could sell so many other things here. You could sell makeup. You could offer lashes. You could do all this stuff. I'm like, no, no. You know, I felt very strongly of like we do this one thing and we're th…”
Insight
Alli Webb: Major beauty conglomerates buy product brands, not service companies
“Unilever, L'Oreal, like, Helen of Troy, who did end up buying us, like, those guys are product, those are huge product companies, they don't want a service company, it's a very different buyer that wants a service business”
Prediction Open · timeframe Sep 2027
Webb predicts Squeeze will reach 500 locations within three years
“I mean, I'd like to see Squeeze, you know, expand to, like, at least 500 locations across the country, and I think that's a real doable, achievable goal, for sure.”
Assertion Partly supported
Webb: Drybar bootstrapped to ~11 stores before raising $26M from Castanea
“Because I think we got to like 10 or 11 stores, like bootstrapping it ourselves. And then we raised about twenty six million was our first big tranche from Castaneda with the intention of, you know, opening a lot more stores and starting a product line. And th…”