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That's a seriously great deck. Did you do a public post-mortem of why you think you were unable to raise?
by pedalpete 4y ago
That's a seriously great deck. Did you do a public post-mortem of why you think you were unable to raise?
- Duhck 4y agoNo and candidly I mishandled the entire shutdown. As a solo founder, my company going insolvent really put me in a dark place. I’m happy to talk about it now though. I think the problem was twofold. We were trying to raise during a tumultuous time for consumer hardware — when VCs were really skeptical of hardware without subscription revenue streams. And our unit economics story was really challenging. COGs grew considerably to get to shipping and that compressed our margins in a way that made the growth story seem capitally intensive. I was convinced we could reduce costs and increase AOV / LTV but VCs really wanted subscriptions
- MichaelZuo 4y agoWhat kind of subscriptions were being considered, if you can still recall?
- Duhck 4y agoWe didnt consider any, hence the friction towards getting more capital
- MichaelZuo 4y agoWas there a reason for not considering it?