The Bouqs, Flower Delivery Service Raises $24 Million

Who needs another flower delivery service right? I mean we already have 1-800-flowers, FTD, UrbanStems, etc. and now The Bouqs.

What’s So Special About The Bouqs?

To date the company has raised a total of $43 million. In their recent Series C financing they raked in $24 million. Apparently some knowledgeable & wealthy people believe in The Bouqs. The LA-based startup founded in 2012, delivers nice bouquets (See where the name came from?). The Bouqs differentiates itself by cutting out the middleman by sourcing its flowers directly from the farms. As a result this reduces the cost and brings the consumer longer lasting flowers.

This has been a winning strategy for the company because according to co-founder John Tabis, they had a profitable 4th quarter in 2016. The Bouq is raising money in order to scale faster and compete with the big dogs. They have their work cut out for them. The Bouqs’ major competitor 1-800-flowers generated $1.2 billion in revenue in 2016. Sheesh!

Good luck Bouq. The grind salutes you for coming this far. Now keep going.

Martel

 

Interesting did you know… The Bouq pitched their startup on Shark Tank.