The Ledger
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Amy Errett forced male VCs to consult female partners before investing
“Before I let anyone do the Series A, I actually told them to do that. So I went and I said, listen, you guys may think this is a good idea. You actually don't know. So I want you to go home. And either your wife, your partner, your kids, your cousins, your aun…”
Madison Reed is profitable, generating $200M revenue, and growing 20% annually
“We are a two hundred million dollar top line business that's profitable and growing 20 plus percent every single year, and, you know, we're an omnichannel business, so we have a lot of distribution.”
Lacking a technical co-founder cost Madison Reed 18-24 months of product development
“Oh, I did not have a technical co-founder. And it cost us I would say about 18 to 24 months of really good digital product and commerce experience.”
Amy Errett self-funded Madison Reed's initial $80,000 hair color production run
“Yeah, that first run cost about, I don't know, maybe 80,000 dollars, and I funded it myself.”
Bain & Company took 50% of its Madison Reed fee in equity
“They took 50% in, in equity in, in their fee.”
Dollar Shave Club founder Mike Dubin serves on Madison Reed's board
“The irony is Mike Dubin is now on my board, which is, and we stayed close as friends and he's been a mentor to me.”
Hair color brand Madison Reed has raised $240 million in total funding
“Two hundred and forty million dollars.”
Madison Reed sold hair color every five seconds during COVID-19
“We were selling a box of color in our, during the pandemic, every five seconds for months.”
Madison Reed tested its 19 initial shades at a San Francisco salon
“I put in my suitcase 19 shades of the color and brought them to The person that used to do my hair, who's the most famous stylist in San Francisco, and I said to him, listen if I bring a bunch of women in on a Friday night and buy the wine and cheese, will you…”