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It took the two partners nine months to raise seed money. After launching the first product, frozen baby food cubes, it reached $63 million in sales over seven years. At that point, they were approached by a larger company for an acquisition. Rolph and her partner were ready to sell. As Rolph focused on developing toys that would enhance a toddler's brain development, she ran the idea past Morris. His background includes being a part of teams that scale companies going public for over a billion dollars. Lovevery is on a fast growth trajectory scaling at a rapid rate. It's approaching the same revenue in year three that Happy Family met in year seven.
"It takes a very thick skin to get through those meetings," Rolph shares."It's very strange to be rejected, and then go back to them again six months later and say, 'hey, do you want to hear more about how we're doing?' It's about keeping those relationships. We've talked to a number of the funds that rejected us. It's all apart of fundraising."
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Fonte: BusinessInsider - 🏆 729. / 51 Leggi di più »