![]() The site was run by a team of one all last year, and now has a 4-person crew, including its first biz hire in April. That business, which also serves as lead gen for BarkCare and BarkBox, is only now starting to generate revenue through sponsored posts from brands like FreshPet, Roomba, 1-800 Flowers and others. also runs a content portal called The BarkPost, which has grown from 1 million visits in December to now 10.5 million visits as of last month. The BarkPostĪnd if that’s not enough, Bark & Co. ![]() The plan now is to do the volume of a normal city vet practice – each city at around $2 million per year – before expanding the business into other markets. Offering on-demand vet appointments for more routine matters, like puppy shots, rabies vaccines and other minor ailments, the company has since expanded to the San Francisco Bay Area and has doubled the number of visits in its second quarter over the first. Meanwhile, Bark & Co.’s newly launched vet care service BarkCare has made hundreds house calls since its February debut in New York. even figured out how to get more money out of this enthusiastic dog-lovin’ user base by offering the option to add a toy for an additional $9 per month. 75% commit to a longer-term plan, and retention is “well north” of 90%. Subscribers, once they join, seem to stick around, too. The company makes about $20 per box, but delivers $40 to $50 in retail value, says Meeker. Today, BarkBox has 200,000 paying customers who pay anywhere from $18 to $29 per month (depending on their subscription) for a box a goodies. ![]() That service sends out a monthly box of dog treats and toys, based on your dog’s size. initially focused on subscription-based e-commerce via BarkBox. BarkBoxįounded in 2011 by Meeker along with Henrik Werdelin and Carly Strife, Bark & Co. capitalizes on that through a number of different avenues. People really love their dogs, and Bark & Co. As of February this year, the company reported a $25 million revenue run rate, and is projecting to grow that 3 or 4 times over by next year, at which point it will consider a further growth round.Īnother reason it wants to hold off on a larger growth round is to give a couple of its newer businesses more time to scale – and yes, Bark & Co. The new round increases Bark & Co.’s valuation by 10-11 times over its previous A round, from April 2013. Basically, it’s cushion in case the world makes a turn on us that’s unexpected, or if other opportunities come along,” adds Meeker. “ made an offer that let us put a little bit of money in the company, and we coupled that with a line of credit. “We kind of went this middle route,” he says. ![]() (Word has it a big-name pet retailer was interested in an acquisition.) There’s was the opportunity to raise a growth round, or sell to a larger company. The company raised $10 million in inside round led by previous investor Resolute.vc, along with RRE, BoxGroup, Lerer Ventures, Bertelsmann Digital Media Investments, Slow Ventures, Daher Capital, CAA, and Vast Ventures, with the remaining in debt financing from City National Bank.Įxplains co-founder Matt Meeker, the company – cash-flow positive since Q4 2013 – actually had a few options on the table. Bark & Co., the doggie-themed technology company best known for its dog treat-delivering subscription business BarkBox, and more recently, its vet care-on-demand service BarkCare, has just closed on 15 million in Series B funding.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |