You might not expect two naval engineers to run a greeting card company. Lovepop co-founders Wombi Rose and John Wise certainly didn't expect it either, but that's exactly what happened.
With Americans spending an estimated $7 billion a year on cards, according to trade group The Greeting Card Association, that's big business. Rose says one woman picked up a card with a blooming Japanese orchid and explained that she'd give it to her mother since the day marked the five-year anniversary of her father passing away, "and [that] this would just make her day, it's like a tree of life," Rose recalls.
By the time Rose and Wise were invited to appear on "Shark Tank" in the summer of 2015, the company had sold about $300,000 worth of cards. Securing a $300,000 deal with O'Leary for a 15 percent stake in Lovepop proved to be a turning point that led to later rounds of institutional capital, including a $12.5 million round led by Highland Capital Partners in January.
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MakeIt Great business model
MakeIt You guys rock !
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MakeIt Cosas grandes con ideas pequeñas.
EURUSD_Alerts MakeIt Would you expect a guy from Philadelphia and a girl from Michoacán? Because that happened too
MakeIt This is knocked-off on every corner in NYC
MakeIt Wow.... It is a passion business indeed
MakeIt Yeh stealing people’s work and making money from it and then getting awarded for it. Brilliant 🙌🏼
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MakeIt Good for them. I love good ideas and innovation. Family is important
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Source: Forbes - 🏆 394. / 53 Read more »