Freestand diluted 15% to 20% equity for its $150,000 seed round
Konark Sharma · Founder Invests $20k Personally, Now $36k MRR, 6 CPG Brand Customers Using for Sampling · Dec 23, 2021 · at 10:16
Konark Sharma is the founder of Freestand. He discloses the equity dilution percentage from the company's seed financing round.
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“It was yeah, it was about in the range of 15 to 20, yeah.”
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More from Konark Sharma
Freestand bundles SaaS software costs into its per-sample distribution pricing
“While we are a SaaS company we have to bundle in our SaaS costs as a part of the first sample price that we're giving away to these brands. So we charge the brands on the basis of like how many samples they distribute with us on a monthly basis.”
Freestand charges CPG brands roughly $1 per sample for distribution
“10,000 samples a month they're paying for typically around 10 10,000 samples.”
Freestand currently serves six active CPG brands from 20 lifetime customers
“20, not 20 active customers, 20 customers that we've been through. Currently we have about six active customers.”
Freestand's active customers pay an average of $6,000 per month
“On an average close to I think about, yeah, so there's a wide spectrum there, but I think the average would be closer to like six thousand dollars would be close.”
Freestand reached $10,000 monthly revenue pre-COVID before temporarily dropping to zero
“Last year, we were like zero at the same time, because essentially we you know, in that month, we were essentially, we kind of bent into COVID, and we decided to, we realized the fact, it was pre-COVID that we had touched 10,000 dollars in, I think, March of t…”