Prediction Not checkable as stated
Candon predicts sporting goods can support a billion-dollar standalone marketplace
“We truly believe that there will be a sporting goods marketplace that this category is plenty big enough to support one. Probably a billion dollar marketplace.”
Insight
Social media growth tricks only work for the first couple thousand followers
“I think you have to get a base, and like, however you get your first couple thousand, there's a lot of tricks for that. But once you do it shifts into this quality game of, you can only do tricks for so long, and then you have to build, like, a really solid co…”
Opinion
The sports equipment industry is a $60B market waiting for a marketplace
“No one's done it in sports, and that's our goal, is to be the marketplace for athletes. I think it's a sixty billion dollar industry”
Prediction Not publicly verifiable
Candon: SidelineSwap will reach $5M to $6M in 2017 sales
“We are looking to do about five to six million in top line sales this year.”
Disclosure
Candon: SidelineSwap takes a 12% cut of GMV as net revenue
“We take a 12% cut. So when our top KPI is gross merchandise volume so we look at how many sales are we driving through the platform. We take a 12% cut of that. That would be our net revenue.”
Assertion Not checkable as stated
Candon: SidelineSwap has 15k sellers and 24k buyers
“For sellers, we're around 15,000 sellers, and about 23, 24,000 buyers.”
Assertion Not checkable as stated
Candon: SidelineSwap has reached ~$3.5M in cumulative GMV
“About three and a half.”
Assertion Not checkable as stated
Candon: A User Once Sold an Instagram Account on SidelineSwap
“So we actually had somebody sell an Instagram account through, through our site that, that they built a large following and wanted to sell it to another kid who wanted to take it over.”
Assertion Not checkable as stated
Candon: SidelineSwap Average Order Value Is Around $80
“It's around, it's increasing, but it's around 80 bucks.”
Assertion Not checkable as stated
Candon: SidelineSwap Had ~3,000 Buyers and ~1,500 Sellers Last Month
“The, I had probably, you know, 3000 buyers, about 1500 sellers, something in that range.”
Disclosure
Candon: SidelineSwap raised $1.8M last summer, reaching $3M total funding
“We raised 1.8 million last summer, and raised a little bit more money this spring. Looks like we'll, we'll, Raise in total. It's going to end up being around three million today.”
Assertion Not checkable as stated
Candon: SidelineSwap grew 30% month-over-month, averaging 20% for the year
“We grew 30% month of a month. Last month was a big month. We're around 20% for the year.”
Assertion Not checkable as stated
SidelineSwap did $400K in sales and under $40K in revenue in 2015
“Top line, we did about 400,000 in sales. We took 12% of that, so our revenue was about, like, just under 40,000.”
Prediction Not checkable as stated
SidelineSwap is pacing $2M in 2016 sales with $240K revenue run-rate
“So our current run rate is about 240,000 for revenue. So we're on base to over two million in sales.”
Assertion Not checkable as stated
SidelineSwap generated $100K in sales in April 2016 and $150K in May
“We did a 100,000 sales in April, ah, a 150,000 in that.”
Disclosure
SidelineSwap is raising a $1.5M convertible note
“We're raising about 1.5 million on a note.”
Assertion Not checkable as stated
Candon: Most SidelineSwap purchases are standard gear at 50% discount
“Most of the items you're purchasing are just general items that are 50% off and are still in good condition.”
Disclosure
SidelineSwap raised a $120K angel round in early 2015
“Eventually got enough to raise an angel round to raise about a 120,000 at the beginning of 2015, rebuilt the site, and launched a new version in June of 2015, and that's kind of when things started to take off, and we quit, quit our jobs and went full time in …”
Assertion Not checkable as stated
SidelineSwap has 12,000 monthly active users
“So we have about 12,000 monthly active users, so that means just come onto the platform, are socially engaged.”
Assertion Not checkable as stated
SidelineSwap has 6,000 all-time buyers and 3,000 sellers
“And then buyers all-time, we probably have, I think we have about 6000 buyers since last June, and about 3000 sellers.”
Assertion Not checkable as stated
Candon: SidelineSwap average order value is $75
“It's 75 bucks.”
Assertion Not checkable as stated
SidelineSwap grew 15% month-over-month over the past six months
“So, we've been growing about, like, 15% month over month for the past five or six months.”
