Brett Florio, co-founder of Foxy, explains why his team easily resisted taking institutional venture capital.
0:00 / 0:24exact quote · 24.6s
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“We've found that once we started getting on people's radars, we are not big enough For certain types of investors, and we're too big for others, so we, what we need less than money would be the team that the money brings, and we tend to, we're just, we don't really need the money.”
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More from Brett Florio
AssertionNot checkable as stated
Florio: Larger businesses avoid Stripe for Paymentech and Vantiv
“A lot of people, especially larger businesses, aren't going to stripe. They're using payment tech or Vantive or what have you. So, you know, automatically stripes out.”
Brett FlorioSep 8, 2018▶ 4:051141 Not shopify, not stripe, $2b+ in transaction volume processed
Insight
Florio: E-commerce pricing models become unworkable without minimum fees
“What we've seen and what we've discovered for ourselves, although we've never tried a more sort of freemium with only the transaction fees, but what we've seen from others and what we've done from our own math is that without some sort of minimum fee, it becom…”
Brett FlorioSep 8, 2018▶ 16:041141 Not shopify, not stripe, $2b+ in transaction volume processed
Disclosure
Florio: Foxy charges 0.5% per transaction capped at 15 cents
“So it's technically our pricing is technically half of a percent up to a maximum of 15 cents.”
Brett FlorioSep 8, 2018▶ 5:551141 Not shopify, not stripe, $2b+ in transaction volume processed
AssertionNot checkable as stated
Florio: Foxy has thousands of customers on its platform
“We don't share that publicly, but I'll say it's thousands.”
Brett FlorioSep 8, 2018▶ 8:481141 Not shopify, not stripe, $2b+ in transaction volume processed
Disclosure
Florio: Foxy offers an unlimited free trial until stores go live
“We offer an unlimited free trial. So you only have to actually pay when you want to take your store live. So when you want to collect real dollars from real customers, because we're developers ourselves, we know that most developers in projects are not wrappin…”
Brett FlorioSep 8, 2018▶ 10:231141 Not shopify, not stripe, $2b+ in transaction volume processed
Disclosure
Florio: Monthly SaaS fees drive the bulk of Foxy revenue
“The bulk is from the monthly fee, the SaaS model.”
Brett FlorioSep 8, 2018▶ 16:391141 Not shopify, not stripe, $2b+ in transaction volume processed
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