Zinc raised under $400,000 total while generating millions in revenue
Max Kolysh · 1303 Ebay to Amazon Dropshipping Arbitrage CEO Makes $5.4M · Feb 17, 2019 · at 7:44
Max Kolysh, CEO of Zinc.io, describes the company's early fundraising history and bootstrapping approach.
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“We took one 20 back then, but yeah, we did that, and then we raised a small pre-seed round after that, so the total fundraise was under 400 K”
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More from Max Kolysh
The Amazon-to-eBay retail arbitrage market is heavily saturated and exhausted
“Amazon to eBay, it's definitely kind of exhausted. There's a lot of sellers doing it.”
Long-tail arbitrage niches are too fragmented for software companies to pursue
“There's a lot of niche opportunities that aren't super, you know, they're not million dollar opportunities each, but they may, they might make somebody a hundred K, 200 K a year. And so not an R incentive to kind of seek all these out.”
Zinc bought cheap eBay items to acquire dropshipper phone numbers
“So for a while you're actually just buying stuff from eBay from almost every seller. And we would, you know, our office was basically filled with junk. We threw a couple office parties where we just gave away lots of stuff and it would be like the cheapest thi…”
Kolysh believes Zinc is a top-two scraper of Amazon
“We are probably like the number one or number
Two scraper of Amazon and all these other sites.”
Kolysh would reject a $25M buyout for Zinc, but accept $100M
“Twenty five million? Probably not, but somewhere. That way I'm pretty like optimistic about the company as a whole. And there's a number for sure. I mean, everybody has a number, right? It's not, you know, I would sell for a hundred for sure.”