Crema.co has raised $325,000 total, including $150,000 from 500 Startups
Tyler Tate · 644: Tech CEO Takes on Coffee, $325k Raised, $17k in GMV in Jan 2017 Helping 750 Buyers Find Their Coffee with Crema.co CEO Tyler Tate · Apr 29, 2017 · at 6:25
Tyler Tate, CEO and co-founder of coffee marketplace Crema.co, discusses his early funding history and accelerator participation with host Nathan Latka.
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“Well, so to date, we've raised 325,150 of that came from 500 startups, which we're participating in now.”
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More from Tyler Tate
Crema.co takes a $9 platform fee per order covering shipping and fees
“And then from our nine dollar platform fee, we then absorb all those costs of postage, credit card processing, box, things like that.”
500 Startups invested $150,000 for 6% equity in Crema.co
“And so it's now, yeah, a 150 K for six percent. And so, yeah, we took that standard deal.”
Crema.co Targeted 10x Growth Following 28% MoM Increases
“The last couple of months we've been growing 28% month over month. And we're targeting something like 10 X growth over the next year.”
Crema.co Spends $20 to $25 to Acquire a First-Time Subscriber
“It costs us around five dollars to get someone to create an account on Crema. And then it's costing between 20 and 25 dollars to convert them to a first time subscriber.”