Roost raised $1.46M in notes before pursuing a $2M priced round
John Gillen · Growing to $50k/mo with Roost CEO Jon Gillon Ep 202 · Mar 10, 2016 · at 7:38
Jon Gillon is the CEO of peer-to-peer storage marketplace Roost, discussing the company's historical capitalization and active fundraising with host Nathan Latka.
0:00 / 0:17exact quote · 17.2s
720p mp4 · rendered on demand · StarZero watermark
“So we did a 160,000 dollars convertible note, then we did a 300,000 dollar convertible note, and then we did a million dollar convertible note, and now we're doing a price round. I'm raising two million dollars right now on a price feed round.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from John Gillen
Roost is growing monthly revenue at 35% to 40% month-over-month
“Yeah, we launched pretty quickly, and now we're growing about 35% a month, 40% a month actually.”
Gillon predicts Roost's $2M seed round will price at $8M-$9M pre-money
“We, we're looking for a lead investor right now, but if I were to see the future, I'd say about eight or nine million.”
Roost charges a 15% monthly transaction fee on storage and parking
“So we take a 15% transaction fee Per month in perpetuity on these big transactions.”
Roost generated $50,000 in top-line revenue in December 2015
“December of 2015, we did 50,000 dollars.”
Zipcar and Enterprise are major commercial partners for Roost
“Looking at Zipcar and Enterprise, also who are big partners of ours.”
Gillon found his technical co-founder via a $75 TaskRabbit introduction ad
“So what I did was I actually put out an ad on TaskRabbit, back when, you know, you could do anything on TaskRabbit, you didn't have to be a professional and I put out an ad on TaskRabbit saying, seeking introduction to a technical person with an entrepreneuria…”