The Ledger
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Shetty: Registries cannot charge consumer subscriptions without major differentiation
“Cause if you look at the marketplace, it's always free. So if you know, you can't have a paid subscription unless you're doing something very, very different.”
Blueprint Registry charges a 2.5% credit card fee on cash gifts
“And we have the lowest fees on the web anywhere for credit card processing. So for only cash gifts, it's a 2.5% credit card transaction fee. So every single website charges this. GoFundMe charges this. Kickstarter charges this. Zola charges us. Everyone charge…”
Blueprint Registry generated over $4 million in sales in 2015
“In 2015, we did over four million in sales.”
Blueprint Registry reached over $6 million in sales in 2016
“This past year in 2016 we did a little over six million in sales.”
Shetty: Blueprint Registry's retail take rate is 5% to 15%
“I mean, it depends on the retailer, but it ranges anywhere from five percent to 15%.”
Shetty: Blueprint Registry generated $10M in sales with four employees
“We did around ten million in sales with only four people, full-time employees.”
Shetty: Blueprint Registry closed a $1M seed funding round
“We've raised a million, we just closed a million dollar seed round investments.”
Shetty notes most e-commerce company valuations are based on gross sales
“For most e-commerce companies, it is based on gross.”
Blueprint Registry projects reaching $10M to $20M in 2017 transaction volume
“I mean, right now, we could hit anywhere from 10 to 12, but if certain things hit right, we could hit 15 to 20.”
Shetty argues the wedding registry market is stagnant and dominated by three players
“Cause if you look at the wedding registry market, it's a stagnant market dominated by, you know, three big box retailers and hasn't changed a lot.”
Blueprint Registry generates revenue exclusively through retailer commissions
“It's all commission based. So we drive sales to retailers and they give us a commission cut when we sell goods.”
Shetty: 85% of Wedding Registrants Use Three Retailers
“So the 85% of people who have a wedding registry have three retailers.”