5 ms·
I'm not sure what this story accomplished. Did it convince us that... ...Male VCs can act like jerks? Yes. ...Male VCs don't get the female market? This shoul
by erdojo 9y ago
I'm not sure what this story accomplished. Did it convince us that...
...Male VCs can act like jerks? Yes.
...Male VCs don't get the female market? This shouldn't surprise anyone. It's sad but this is why we need more female VCs.
...That the company is not getting funding because it's women-oriented and run by a woman? Unfortunately no. Because the story didn't prove the company deserved to be funded. It left me with BIG open questions instead.
There wasn't any mention of market data or past sales/momentum data to validate market size and demand. Especially for a company that has burned through $6.5M in 3-4 years.
If your go-to-market strategy is to launch at 3-4x the price of your biggest competitors, you've got to have a value prop that totally invalidates and obliterates price comparisons. Better comfort and "smart" features are nice-to-haves, not can't-live-withouts.
All of this means they have a product with an audience that quickly narrows down:
- Women
---In childbearing years
-----Who are are pregnant, or recently had a child
-------Who are nursing/planning to nurse
---------Who are committed to pumping vs supplementing with formula
-----------Who have enough disposable income to pay a 3-4x premium
-------------Who care about these specific features
Then, as another commenter mentioned, there are other premium pumps coming to market, so they will inevitably be splitting market share.
I'm a woman and I get this product and market (mostly, I have not had children). I hope they succeed, but my guess is this only works if it's a market-entry product that is quickly followed up by a broader line of "smart" products for moms and moms-to-be. To put my money in, I'd first need to be convinced that this is the right market-entry product (and can give you that high-end brand recognition), then I'd need to be convinced you've got other stuff in R&D that will deliver the big profits.