The Ledger
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Pollaro: Venga pays no kickbacks to Mindbody or OpenTable reps
“We don't, we would actually like to, but you know, the way our agreement works, you know mind, body, open table, they don't want us paying their reps you know, to sell our product.”
Pollaro: Venga would likely look to revenue-based financing for future funding
“And then we thought about like a revenue back revenue based loans. We've considered that. And so that would probably be the first place we go for funding at this point.”
Pollaro: Venga charges $200 to $300 monthly per location
“Between two and 300 dollars per month per location. So if you're a restaurant group and you've got 10 locations, you're paying, you know, 2500 bucks a month.”
Pollaro: Venga took three years and multiple pivots to find product-market fit
“So we actually launched in 2011 with a product that's slightly different from what we do now. Like most companies, you know, we pivoted a couple times along the way. We realized within probably six months that our first product wasn't gonna work, and we pivote…”