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Week Ending 2021-05-30
Printful valued at above $1 billion and raises $130 million from investors at Bregal Sagemount (printful.com)
- Printful, an industry-leading print-on-demand drop shipping and fulfillment company. Printful has experienced explosive growth with its revenue increasing by almost 80% and exceeding $200 million in 2020. Since its launch in 2013, the company has sold over 32 million customized products to customers all over the world.
- The financing establishes Printful as the first privately owned company with Latvian roots to achieve unicorn status.
- Opinion: Incredible to see a hardware business be a first unicorn in Latvia. On the other hand it is not a typical startup since this is their first outside investment round. Which is not surprising because - well… it’s hardware.
SevenFifty Drinks Up $23M Series B For Online Alcohol Marketplaces (news.crunchbase.com)
- SevenFifty provides web-based and mobile technology based on a three-tier platform that connects buyers, distributors and retailers across the supply chain in an integrated sales and marketing toolkit.
- The share of alcohol sales made online was just 1 percent in 2019, compared to groceries at 3.4 percent and 38 percent of apparel sales during the same time.
- Opinion: There is a trend of digitizing the process of browsing through big books in PDFs where business can order something. Sometimes it is problem with searching through the catalogue for products, sometimes it is product customization and sometimes it is about up-to-date information. Alcohol industry seems like a good place to do it.
Source: https://pitchbook.com/news/reports/q1-2021-us-vc-valuations-report RVVC (relative velocity of value creation: the annualized percent increase in valuation between rounds)