The Ledger
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Rasheta: iStabilizer walked away four times during Walmart retail renegotiations
“So there were three or four times when they, when I would, when I told them, okay, the deal's over. We don't want to be in Walmart. And then a day would go by and then they would come back and renegotiate. That happened four different times.”
Rasheta would sell up to 40% of iStabilizer for $500,000
“I don't, I'd be pretty flexible though. I'm, I, I'm guessing somewhere in the 30 to 40 range.”
Rasheta: iStabilizer sold nearly 1,000 $350 gimbals in 48 hours after CBS feature
“Close to a thousand.”
Rasheta: iStabilizer's $350 gimbal costs $160 landed with shipping
“All set and done with shipping, it's about a 160 dollars.”
Rasheta: Retailers like Walmart typically demand 60% off MSRP
“Cause we have to factor in like typically a reseller like Walmart, for example, takes 60% off of the top. So off of MSRP.”
Rasheta: B&H Photo buys iStabilizer's gimbal at $240 wholesale
“B&H Photo does pretty well with it, and they pay two, they pay 2:40 for it.”
Rasheta: iStabilizer spends about $30 in advertising per gimbal sale
“Yeah, we do spend money on advertising through Google AdWords and Facebook advertising, and we have it on the gimbal, for example, as the example, it costs us about 30, 30 dollars to acquire a sale.”
Rasheta: iStabilizer reaches 600,000 to 700,000 customers across all channels
“Close to six or 700,000.”
Rasheta: iStabilizer website buyers average three lifetime orders
“So on our website, it takes a customer an average of three to four days before they buy it. They've been browsing three to four days, then they'll buy their first order, and then they'll end up placing an average of three orders over their lifetime.”
Rasheta declined an AT&T order for 2,300 stores over capital constraints
“So someone like AT&T comes and says, we want the gimbal. I have to say no at this point, because I don't have the capital to manufacture the volume that they would require. Cause they have 2300 stores. So to produce that much inventory, I just don't have the c…”
Rasheta: iStabilizer is selling products in Walmart stores again
“Since then we've gone back to Walmart, so we're selling in Walmart again.”
Rasheta: iStabilizer downsized its team from five people to three
“We have actually decreased our, let's see, last time we spoke, we had five. Now I have three.”
Rasheta: iStabilizer has expanded to close to 60 or 70 SKUs
“Cause I mean, we started with one product and right now we've got close to 60 or 70 SKUs now.”