Apartment 2B

6 statements across 1 episodes · 3 bullish · 1 bearish · 1 people on the record · first statement Mar 25, 2024 by Alex Back · said 1 times in 1 episodes since 2024 · across every show →

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Everything said about Apartment 2B, oldest first

Mar 25, 2024 negative
Assertion Not checkable as stated
Apt2B's acquisition was delayed over cash versus accrual accounting discrepancies
“And then we had like a snag right at the end in the last few weeks that delayed us about a month which was interesting. It had to do with the difference in cash basis accounting and accrual basis accounting that we were on. Cash basis, and they were on accrual…”
Alex Back Mar 25, 2024 ▶ 32:46 Alex sold couches online before IKEA did. He grew to $40M in revenue and exited for millions. | A... · PMF Show
Mar 25, 2024 positive
Opinion
Apt2B launched to bridge the market between IKEA and Crate & Barrel
“We're just, like, sort of bridging the gap between Ikea, which at the time was much seen as much more lower end quality, like, you know, as promotional as you can get, and Crate and Barrel, which at the time was seen as a little bit more high end. But there wa…”
Alex Back Mar 25, 2024 ▶ 7:06 Alex sold couches online before IKEA did. He grew to $40M in revenue and exited for millions. | A... · PMF Show
Mar 25, 2024 neutral
Assertion Not checkable as stated
Apt2B filmed an hour-long Shark Tank pitch that never aired
“Like, a few years in, we were on Shark Tank, and my partner, like, pitched for an hour to the Sharks.”
Alex Back Mar 25, 2024 ▶ 22:28 Alex sold couches online before IKEA did. He grew to $40M in revenue and exited for millions. | A... · PMF Show
Mar 25, 2024 positive
Assertion Not checkable as stated
Apt2B crossed $1 million in annual revenue in 2014
“The big unlock for us of getting to a place where we really started to see it as a scalable thing was when we started shipping nationally. That was in 2013. Very few online furniture retailers were doing this at that point. It was the wild west. And I think th…”
Alex Back Mar 25, 2024 ▶ 20:23 Alex sold couches online before IKEA did. He grew to $40M in revenue and exited for millions. | A... · PMF Show
Mar 25, 2024 neutral
Disclosure
Alex Back launched Apt2B on just $125,000 of friends-and-family capital
“I think it was a 125,000 dollars total. We did like just my friend and his dad were the initial 50,000. And then we Raised from another friend of my partner's. Another 75. And that's it.”
Alex Back Mar 25, 2024 ▶ 13:59 Alex sold couches online before IKEA did. He grew to $40M in revenue and exited for millions. | A... · PMF Show
Mar 25, 2024 positive
Assertion Not checkable as stated
Apt2B generated $40K weekly at Costco roadshows for a 14% commission
“We would do, you know, 2030, 40,000 dollars in a week at Costco, and they take 14%. There's no other participation fee. They just want a cut.”
Alex Back Mar 25, 2024 ▶ 18:29 Alex sold couches online before IKEA did. He grew to $40M in revenue and exited for millions. | A... · PMF Show
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