Roost charges a 15% monthly transaction fee on storage and parking
John Gillen · Growing to $50k/mo with Roost CEO Jon Gillon Ep 202 · Mar 10, 2016 · at 6:02
Jon Gillon, founder and CEO of Roost, outlines the marketplace monetization model to Nathan Latka.
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“So we take a 15% transaction fee Per month in perpetuity on these big transactions.”
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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 generated $50,000 in top-line revenue in December 2015
“December of 2015, we did 50,000 dollars.”
Roost raised $1.46M in notes before pursuing a $2M priced round
“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.”
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…”