PartySlate founder Julie Roth Novak discloses the terms of her current fundraising round to the investor panel on The Pitch.
Opinion
Novak: VC Brad Feld agrees that Pinterest is not a PartySlate competitor
“I know I've had many talks with Brad Feld, who's a, you know, one of the leading VCs in the country, and he said to me over and over, Pinterest is not your competitor, and we agree a hundred percent.”
Opinion
Novak: The Knot and WeddingWire are mass-market; PartySlate targets high budgets
“So the knot and wedding wire are very mass market, and they're great sites, but they say eight out of 10 brides come to the knot, and some of them have small budgets, some of them are doing things that you do it yourself, and what we're doing is going after pe…”
Assertion Not checkable as stated
Novak: PartySlate burns $100K per month with 15 employees
“Our current burn rate is about a 100,000. And we have 15 people.”
Assertion Not checkable as stated
Novak: PartySlate amassed 300,000 photos in two years, beating The Knot's 200,000
“So the knot that's been around for 20 years has about 200,000 photos. In our first two years we've had 300,000 photos.”
Assertion Supported
Novak: PartySlate secured $2.5M, backed by Revolution's Rise of the Rest
“And since that time, I'm excited to share that we've raised 2.5 million of our three million dollar round. And the great news is two weeks ago Revolution Ventures their rise of the rest fund just joined the round.”
Assertion Not checkable as stated
Novak: PartySlate Has 300K Photos, 4K Pros, and 150 Paying Customers
“We've launched two years ago. We have 300,000 photos uploaded to the site to date. We have 4000 event professionals sharing their photos, and we have a 150 paying customers.”