Sneaker Startup GOAT raises $25 Million

Founded in 2015 the mobile sneaker marketplace GOAT is capitalizing on the love for fly kicks (sneakers). The company recently raised $25 million in a funding round led by VC firm Accel Partners. Here’s the lowdown on the company.

What Do They Do?

GOAT is a mobile-based sneaker resale marketplace. The company acts as a middleman between buyer and seller and provides the service of verifying the authenticity of the goods.  They hold the funds in escrow until the product is verified. All the while GOAT takes a cut for their efforts. It’s a win win for all parties involved. Makes ya say dang why couldn’t I think of that.

Product/Market Fit?

Membership has reached 1.5 million customers with an average order per transaction of $330 according to TechCrunch. Yep, looks like the product is fitting with the market quite well.

Total Funds Raised

To date the company has raised a total of $37.6 million.

What Do They Plan To Do With All Of This Dough?

GOAT plans to use the new funding to fuel its growth by hiring new engineering, operations, product and marketing specialists. It will also invest in new facilities to bolster its operations and logistics.

Who’s the Chief?

Eddy Lu is the co-founder and CEO of GOAT


GOAT Verification

Goat Employee inspecting the product above.



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.



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

What If I Were to Tell You That You Can Be a Venture Capitalist: IndieGoGo Just Made it Possible

What if I were to tell you that you could be a venture capitalist too. Is that something you would be interested in? Venture capitalism is not just for the wealthy anymore. In May, President Obama passed a rule, part of the 2012 JOBS Act, that allows regular folks like you and I to invest in startups by taking equity positions in them, via crowd-sourcing sites such as IndieGoGo. Previously only accredited investors, individuals with an annual income of at least $200k per year or a net worth of least $1m could play in this arena.

IndieGogo has responded to this opportunity by recently launching equity crowd funding site, Equity IndieGoGo. Now entrepreneurs can offer more than a pat on the back and a cool t-shirt to people who invest in their dream. Entrepreneurs can offer actual equity to investors. It’s a win win for all.

Investments on the Equity IndieGoGo platform start at $100 and investment bank, MicroVentures, handles all transactions including cap table calculations and other back-end investment logistics.

Are you the next Chris Sacca, billionaire VC? What startups will round out your portfolio?

Hit us on the Gram and let us know.


Startup: So What The Heck is the Difference Between Series A, B and C Rounds of Funding?

In the startup world you often see headlines of company X raising a gazillion dollars in a Series A, B or C round of funding. What does this actually mean? Like most people on the outside looking in all I really knew was the companies were receiving funds in order to continue growing their businesses. Anything after that was Greek to me.  I decided to dive a little deeper and here’s what I discovered.

  • Seed Round – So you’ve  come up with a great idea but you need funds to get the idea off the ground and really test if there’s a market for your product or service. You’re planting the seed for your business. Once you’ve tapped out of finances from friends, family and your personal stash to jump start the business, in comes Angel investors. These investors typically provide the funds for this early stage of your business for a percent of the company, naturally. Angel investors are wealthy individuals with a minimum net worth of $1 million who  earn over $200k per year in income. During the Angel round of investing startups typically raise $150k to $2m.
  • Series A Round – Now that the business has developed a track record and has exhibited good signs that it’s a going concern it’s time to improve the product and begin scaling up. This is where the big boys and ladies come in. Venture Capital firms invest heavy paper aka boat loads of cash in exchange for their piece of the pie (of course) and lending their expertise and knowledge. Series A rounds typically raise approximately $2m to $15m.
  • Series B Round – This round is similar to the previous one. Many of the same VC players are involved. The goal here is expanding the company’s reach, acquiring the proper talent for the organization, increased marketing and advertising takes place in this round. The funds raised at this stage run between $7m to $10m.
  • Series C Round – At this point you’re clearly a successful company. You may need funds for a strategic acquisition, or  expansion into foreign markets, etc. In addition to the VC firms, Angel and other early investors you have some new faces.  Hedge Funds, Investment Banks and Private Equity Bankers enter the fray here. They have a ton of cash and expertise that they infuse into the company to continue the expansion.
  • IPO – The Investment Bankers can help bring the company to public markets via an “Initial Public Offering.” This allows us common folk to get a piece of the pie by purchasing shares via our favorite trading platforms/brokerages. We own a portion of the company and in exchange they receive funds (the cost of each share purchased) to further develop the business.



Now you know your A,B,C’s!



Check out Investopedia for more details on the different stages of funding.