StarZero All shows Try the podcast clipper →

Apr 6, 2017 · 18m · top-founders

EP 621:BluePrintRegistry Raises $1.7M, Passes 2500 Postings and $10M in Transaction Volume with CEO Nevin Shetty

Nevin Shetty · 7m spoken Nathan Latka · 7m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this episode of The Top Entrepreneur podcast, host Nathan Latka interviews Nevin Shetty, co-founder and CEO of Blueprint Registry, exploring how the startup scaled past $10 million in transaction volume, raised $1.7 million, and differentiated its visual room-mapping registry platform.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 49.8% of the talking time here. How this is scored →

Nathan as informed peer 3.5 Guest teaching 2.0 Guest disagreement 1.3 Nathan pushing back 2.2
05100:0010:000:55–3:40 · Nathan as informed peer 4/10 Preview of Upcoming FinTech Accelerator Episode Nathan opens with standard introductory questions to understand Blueprint Registry's business model. Nevin clearly explains how the platform aggregates multiple retailers and takes affiliate commissions on gift purchases.3:41–7:20 · Nathan as informed peer 5/10 Startup Inception, Co-Founder Search, and Equity Split Nathan digs into the startup's origin, equity split, and gross sales trajectory. He quickly calculates average cart values and infers the company's net revenue based on take rates.7:20–10:32 · Nathan as informed peer 5/10 Scaling the Team, Techstars, and Capital Structure Nathan presses on fundraising structures and whether Blueprint would consider charging couples a listing fee. Nevin pushes back firmly on the idea of consumer-side fees, citing market standards.10:34–12:34 · Nathan as informed peer 4/10 Relocation to Seattle, Competitive Landscape, and Processing Fees The conversation covers relocation to Seattle and key competitors like Zola. Nevin educates Nathan on credit card processing fee benchmarks, highlighting their 2.5% rate.12:36–14:59 · Nathan as informed peer 3/10 Organifi Daily Green Juice Travel Sponsor Nathan transitions through a sponsor read for Organifi and leads Nevin through the standard Famous Five rapid-fire questions in a lighthearted, collaborative tone.14:59–17:08 · Nathan as informed peer 0/10 Nathan Latka Summarizes Blueprint Registry Metrics This is a solo wrap-up monologue where Nathan summarizes the company's financial metrics and transitions into promotional outro messaging.0:55–3:40 · Guest teaching 3/10 Preview of Upcoming FinTech Accelerator Episode Nathan opens with standard introductory questions to understand Blueprint Registry's business model. Nevin clearly explains how the platform aggregates multiple retailers and takes affiliate commissions on gift purchases.3:41–7:20 · Guest teaching 2/10 Startup Inception, Co-Founder Search, and Equity Split Nathan digs into the startup's origin, equity split, and gross sales trajectory. He quickly calculates average cart values and infers the company's net revenue based on take rates.7:20–10:32 · Guest teaching 3/10 Scaling the Team, Techstars, and Capital Structure Nathan presses on fundraising structures and whether Blueprint would consider charging couples a listing fee. Nevin pushes back firmly on the idea of consumer-side fees, citing market standards.10:34–12:34 · Guest teaching 3/10 Relocation to Seattle, Competitive Landscape, and Processing Fees The conversation covers relocation to Seattle and key competitors like Zola. Nevin educates Nathan on credit card processing fee benchmarks, highlighting their 2.5% rate.12:36–14:59 · Guest teaching 1/10 Organifi Daily Green Juice Travel Sponsor Nathan transitions through a sponsor read for Organifi and leads Nevin through the standard Famous Five rapid-fire questions in a lighthearted, collaborative tone.14:59–17:08 · Guest teaching 0/10 Nathan Latka Summarizes Blueprint Registry Metrics This is a solo wrap-up monologue where Nathan summarizes the company's financial metrics and transitions into promotional outro messaging.0:55–3:40 · Guest disagreement 1/10 Preview of Upcoming FinTech Accelerator Episode Nathan opens with standard introductory questions to understand Blueprint Registry's business model. Nevin clearly explains how the platform aggregates multiple retailers and takes affiliate commissions on gift purchases.3:41–7:20 · Guest disagreement 1/10 Startup Inception, Co-Founder Search, and Equity Split Nathan digs into the startup's origin, equity split, and gross sales trajectory. He quickly calculates average cart values and infers the company's net revenue based on take rates.7:20–10:32 · Guest disagreement 3/10 Scaling the Team, Techstars, and Capital Structure Nathan presses on fundraising structures and whether Blueprint would consider charging couples a listing fee. Nevin pushes back firmly on the idea of consumer-side fees, citing market standards.10:34–12:34 · Guest disagreement 2/10 Relocation to Seattle, Competitive Landscape, and Processing Fees The conversation covers relocation to Seattle and key competitors like Zola. Nevin educates Nathan on credit card processing fee benchmarks, highlighting their 2.5% rate.12:36–14:59 · Guest disagreement 1/10 Organifi Daily Green Juice Travel Sponsor Nathan transitions through a sponsor read for Organifi and leads Nevin through the standard Famous Five rapid-fire questions in a lighthearted, collaborative tone.14:59–17:08 · Guest disagreement 0/10 Nathan Latka Summarizes Blueprint Registry Metrics This is a solo wrap-up monologue where Nathan summarizes the company's financial metrics and transitions into promotional outro messaging.0:55–3:40 · Nathan pushing back 2/10 Preview of Upcoming FinTech Accelerator Episode Nathan opens with standard introductory questions to understand Blueprint Registry's business model. Nevin clearly explains how the platform aggregates multiple retailers and takes affiliate commissions on gift purchases.3:41–7:20 · Nathan pushing back 3/10 Startup Inception, Co-Founder Search, and Equity Split Nathan digs into the startup's origin, equity split, and gross sales trajectory. He quickly calculates average cart values and infers the company's net revenue based on take rates.7:20–10:32 · Nathan pushing back 4/10 Scaling the Team, Techstars, and Capital Structure Nathan presses on fundraising structures and whether Blueprint would consider charging couples a listing fee. Nevin pushes back firmly on the idea of consumer-side fees, citing market standards.10:34–12:34 · Nathan pushing back 3/10 Relocation to Seattle, Competitive Landscape, and Processing Fees The conversation covers relocation to Seattle and key competitors like Zola. Nevin educates Nathan on credit card processing fee benchmarks, highlighting their 2.5% rate.12:36–14:59 · Nathan pushing back 1/10 Organifi Daily Green Juice Travel Sponsor Nathan transitions through a sponsor read for Organifi and leads Nevin through the standard Famous Five rapid-fire questions in a lighthearted, collaborative tone.14:59–17:08 · Nathan pushing back 0/10 Nathan Latka Summarizes Blueprint Registry Metrics This is a solo wrap-up monologue where Nathan summarizes the company's financial metrics and transitions into promotional outro messaging.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 71.1% · guest 28.9%0:00 · Nathan 71.1% · guest 28.9%3:00 · Nathan 12.6% · guest 87.4%3:00 · Nathan 12.6% · guest 87.4%6:00 · Nathan 45.1% · guest 54.9%6:00 · Nathan 45.1% · guest 54.9%9:00 · Nathan 18.3% · guest 81.7%9:00 · Nathan 18.3% · guest 81.7%12:00 · Nathan 64.8% · guest 35.2%12:00 · Nathan 64.8% · guest 35.2%15:00 · Nathan 100% · guest 0%15:00 · Nathan 100% · guest 0%18:00 · Nathan 0% · guest 0%18:00 · Nathan 0% · guest 0%
Sharpest disagreement ▶ 10:10 Firm rejection of user-side monetization

Nevin directly rejects Nathan's suggestion to charge couples to list registries, arguing that users expect free marketplace access and that he personally hates arbitrary fees.

 Hardest push from Nathan ▶ 10:00 Pressing on listing fee revenue streams

Nathan challenges Nevin to consider extracting revenue from the consumer side by charging couples getting married to be listed on the platform.

 Biggest teaching moment ▶ 8:08 Explaining equity round versus convertible debt

Nevin articulates the strategic rationale for setting a priced equity round rather than another convertible note once growth metrics and market comps could justify clear valuation terms.

 Nathan holds their own ▶ 7:04 Deducing actual revenue from gross transaction volume

Nathan demonstrates commercial expertise by immediately extrapolating Blueprint's 5% take rate against six million dollars in gross sales to pin down net company revenue.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Preview of Upcoming FinTech Accelerator Episode 4312 Nathan opens with standard introductory questions to understand Blueprint Registry's business model. Nevin clearly explains how the platform aggregates multiple retailers and takes affiliate commissions on gift purchases.
Startup Inception, Co-Founder Search, and Equity Split 5213 Nathan digs into the startup's origin, equity split, and gross sales trajectory. He quickly calculates average cart values and infers the company's net revenue based on take rates.
Scaling the Team, Techstars, and Capital Structure 5334 Nathan presses on fundraising structures and whether Blueprint would consider charging couples a listing fee. Nevin pushes back firmly on the idea of consumer-side fees, citing market standards.
Relocation to Seattle, Competitive Landscape, and Processing Fees 4323 The conversation covers relocation to Seattle and key competitors like Zola. Nevin educates Nathan on credit card processing fee benchmarks, highlighting their 2.5% rate.
Organifi Daily Green Juice Travel Sponsor 3111 Nathan transitions through a sponsor read for Organifi and leads Nevin through the standard Famous Five rapid-fire questions in a lighthearted, collaborative tone.
Nathan Latka Summarizes Blueprint Registry Metrics 0000 This is a solo wrap-up monologue where Nathan summarizes the company's financial metrics and transitions into promotional outro messaging.

Statements from this episode (14)

Disclosure
Blueprint Registry generates revenue exclusively through retailer commissions
“It's all commission based. So we drive sales to retailers and they give us a commission cut when we sell goods.”
Nevin Shetty Apr 6, 2017 ▶ 2:23
Assertion Contradicted
Shetty: 85% of Wedding Registrants Use Three Retailers
“So the 85% of people who have a wedding registry have three retailers.”
Nevin Shetty Apr 6, 2017 ▶ 2:54
Disclosure
Blueprint Registry co-founders intentionally did not split equity evenly
“So, I mean, people would say, you know it's not an even split. But, you know, I think what we both want to make sure is we both feel that we have vested interest and we're both owners in the business.”
Nevin Shetty Apr 6, 2017 ▶ 5:03
Disclosure
Blueprint Registry raised a $700,000 friends and family round
“So we raised a friends and family around, raised a little over 700,000 dollars, and then expanded the platform.”
Nevin Shetty Apr 6, 2017 ▶ 5:52
Assertion Not checkable as stated
Blueprint Registry generated over $4 million in sales in 2015
“In 2015, we did over four million in sales.”
Nevin Shetty Apr 6, 2017 ▶ 5:57
Assertion Not checkable as stated
Blueprint Registry reached over $6 million in sales in 2016
“This past year in 2016 we did a little over six million in sales.”
Nevin Shetty Apr 6, 2017 ▶ 6:01
Assertion Not checkable as stated
Shetty: Blueprint Registry's retail take rate is 5% to 15%
“I mean, it depends on the retailer, but it ranges anywhere from five percent to 15%.”
Nevin Shetty Apr 6, 2017 ▶ 7:05
Assertion Not checkable as stated
Shetty: Blueprint Registry generated $10M in sales with four employees
“We did around ten million in sales with only four people, full-time employees.”
Nevin Shetty Apr 6, 2017 ▶ 7:29
Disclosure
Shetty: Blueprint Registry closed a $1M seed funding round
“We've raised a million, we just closed a million dollar seed round investments.”
Nevin Shetty Apr 6, 2017 ▶ 7:46
Insight
Shetty notes most e-commerce company valuations are based on gross sales
“For most e-commerce companies, it is based on gross.”
Nevin Shetty Apr 6, 2017 ▶ 8:48
Prediction Not checkable as stated
Blueprint Registry projects reaching $10M to $20M in 2017 transaction volume
“I mean, right now, we could hit anywhere from 10 to 12, but if certain things hit right, we could hit 15 to 20.”
Nevin Shetty Apr 6, 2017 ▶ 9:01
Insight
Shetty: Registries cannot charge consumer subscriptions without major differentiation
“Cause if you look at the marketplace, it's always free. So if you know, you can't have a paid subscription unless you're doing something very, very different.”
Nevin Shetty Apr 6, 2017 ▶ 10:12
Opinion
Shetty argues the wedding registry market is stagnant and dominated by three players
“Cause if you look at the wedding registry market, it's a stagnant market dominated by, you know, three big box retailers and hasn't changed a lot.”
Nevin Shetty Apr 6, 2017 ▶ 11:24
Assertion Partly supported
Blueprint Registry charges a 2.5% credit card fee on cash gifts
“And we have the lowest fees on the web anywhere for credit card processing. So for only cash gifts, it's a 2.5% credit card transaction fee. So every single website charges this. GoFundMe charges this. Kickstarter charges this. Zola charges us. Everyone charge…”
Nevin Shetty Apr 6, 2017 ▶ 11:42
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 2,600 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more