0107 Chris Davis - Scaling to $170m in 4 Years and Then Going Bankrupt
Today’s topics: (1:10) Moiz introduces Chris and discusses what Loot Crate is (“Comic-Con in a box”). (2:58) Loot Crate launched in 2012, by 2016 had $170M in revenue (with 600,000 subscribers) and ranked as the fastest growing e-commerce company by Inc. (6:00) Chris discusses marketing strategy with Facebook vs influencers and the importance of authenticity with influencers. (12:23) Chris discusses the kind of products Loot Crate has and how to get exclusive products and license deals. (14:11) Chris discusses raising money early on and later while the company was more successful. (18:30) After crazy initial growth, Loot Crate started losing money by growing too quickly, spending too much on marketing, and having too many products among other issues. (25:20) Dealing with debt and complexity in cap structure. (30:01) Moiz and Chris give their takes on inventory as a DTC company vs. selling brick and mortar. (34:30) Loot Crate went bankrupt (Chapter 11) and later acquired, Chris describes the process. (40:30) Chris explains what works today for marketing (fundamentals haven’t changed). (44:29) Moiz and Chris talk when to trust and not trust your gut when growing your business. (47:11) Chris lists what he would have done differently. See acast.com/privacy for privacy and opt-out information.