Alexander: ConceptDrop raised $1.1M round at $5M to $7M pre-money valuation
Phil Alexander · EP 389: ConceptDrop Raises $1.1M, Helps You Get Creative Work Done Quick with Phil Alexander EP389 · Aug 17, 2016 · at 6:14
ConceptDrop CEO Phil Alexander shares the valuation range of his company's priced seed round with host Nathan Latka.
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“Five to seven.”
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More from Phil Alexander
Alexander: ConceptDrop closed a six-figure enterprise deal with Fortune 100 client
“We've kind of gone from selling those individual projects to closing Six figure contract with a fortune 100 company.”
Alexander: Raising a Serious Seed Round Raises the Stakes for Early Exits
“The second you raise a serious seed round, it kind of changed the stakes for what's acceptable to everyone. And like, I made a commitment to the investors to get to a certain point. And I think
Yeah.
You kind of got to assume when you have these, you know, p…”
Alexander: ConceptDrop 8x'd monthly revenue in one year and raised $1.1M
“Well, I can tell you that we worked with over 300 companies and in one calendar year, year, year, we eight X star monthly revenue. We went from two employees to eight full time employees. And in the process, we recently closed out a 1.1 million dollar venture …”
Alexander: ConceptDrop operates with fewer than 100 vetted freelance suppliers
“So we actually are working with a pretty small group of suppliers less than 100.”
Alexander: ConceptDrop has a $500 AOV and pays freelancers 65%
“Our average, the average order value for us is about 500 dollars. So they're taking about 65% of that on average per project.”
Alexander: ConceptDrop 10xed monthly revenue in 2015 from $10K-$15K/month
“In back in early part of 2015, we hadn't launched a marketplace. We were, you know, doing, you know, not single digits in monthly revenue, but we were doing, you know, in the lower 10 to 15,000 per month, we basically 10 X that in a year.”