Tim Ray explains how he funded Carnivore Club using proceeds from the exit of FoodScrooge.
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“We only started this company with a 100,000 dollars of startup capital from my previous exit, which isn't much. And, you know, we've been able to grow to where we are in two years with that original 100,000. We haven't raised any capital, so.”
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More from Tim Ray
Disclosure
Carnivore Club paid $10,000 per ad read on WTF with Marc Maron
“Drinking Bros is a fairly small podcast. It's about 20,000, you know, downloads and we're paying about two 70 a pop versus we got a big podcast where you come out with WTF with Marc Maron you know, and we're paying 10 grand a pop on that one.”
Tim RayJun 12, 2016▶ 16:19Meat on Demand Does $1,200,000 in 2015, EP 280: Tim Ray
AssertionNot checkable as stated
Ray: FoodScrooge signed an LOI in eight weeks, hitting $150K revenue
“So we actually signed our letter of intent to sell eight weeks after we launched. And within the four months that we were operating, we did about a 150,000 in revenue”
Tim RayJun 12, 2016▶ 2:44Meat on Demand Does $1,200,000 in 2015, EP 280: Tim Ray
AssertionNot checkable as stated
FoodScrooge was acquired for $100K upfront and a $2.1M maxed-out earnout
“So it was basically a 100,000 up front with a 2.1 million dollar purchase price, which we were able to max out based on the earn out agreement.”
Tim RayJun 12, 2016▶ 3:08Meat on Demand Does $1,200,000 in 2015, EP 280: Tim Ray
Disclosure
Ray acquired Broquet for $150,000, paying it out over time
“So it's a 150,000 dollar buy price is what I bought it for which we're in the process of you know, paying that out over the course of scaling the company.”
Tim RayJun 12, 2016▶ 5:06Meat on Demand Does $1,200,000 in 2015, EP 280: Tim Ray
AssertionNot checkable as stated
Carnivore Club ships 5,500 monthly boxes, peaking at 8,000 during Christmas
“So we sent just over, I think, 8000 at Christmas time. And you know, so we probably two thirds of our sales are gift oriented. And on a typical month, like now we'd send around 5500 boxes”
Tim RayJun 12, 2016▶ 8:33Meat on Demand Does $1,200,000 in 2015, EP 280: Tim Ray
AssertionNot checkable as stated
Carnivore Club reached nearly $200,000 in sales in February 2016
“February, 2016, we did just shy of 200,000 in sales across Canada, the U S and Europe.”
Tim RayJun 12, 2016▶ 10:20Meat on Demand Does $1,200,000 in 2015, EP 280: Tim Ray
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