198: Crowdfunding the Bed in a Box with Viscosoft Founder & CEO Gabriel Dungan
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Sam interviews Viscosoft Founder & CEO Gabriel (Gabe) Dungan about crowdfunding his bed in a box startup. The two go back over a decade to their startup days in China and explain the technology and how Gabe has transitioned the business to the United States. Then Sam and Derek recap the business, talk about their experiences with bed in a box, talk bad mattress stories and go over Sam\'s personal investment in the company.
Viscosoft wants to change the way the world sleeps. With a background in textile engineering, product development, and sensor technology, our mission is to provide consumers around the world with high-end bedding products that deliver ultimate comfort, unmatched value and the smartest, data-driven sleep experience ever to exist.
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Viscosoft is poised to become one of the most recognized brands in the $432B sleep industry. We are an Amazon top 250 seller and have several products that have been recognized by industry experts for delivering great sleep through thoughtful design and innovative materials, including Good Housekeeping\\u2019s prestigious \\u2018Best Bedding\\u2019 award in 2021.
Over the past 4 years, more than 500K direct consumers have contributed to revenues of more than $95M and increased profitability last year. 2020 revenues reached $30M as the direct-to-consumer business (Viscosoft.com) grew more than 700% YoY from increased brand recognition, customer loyalty programs & product partnerships.
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Sleep technology is a $12.5B industry and expected to reach $40.6B within the next 5 years. Viscosoft is committed to delivering a first-of-its-kind mattress topper with integrated sleep-quality sensors for under $200.
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Where we are:
- Johnny FD \\u2013 Ukraine / IG @johnnyfdj
- Sam Marks \\u2013 Ireland/ IG @imsammarks
- Derek Spartz - Venice Beach / IG @DerekRadio
Sponsor:
- RAD Diversified
RAD Diversified REIT allows investment partners to invest in cash-flowing properties with substantial value-add opportunities. RAD Diversified offers monthly distributions, a 5% bottom-line guarantee,\\xa0 and achieved a 36.7% return in 2020. - Support Invest Like a Boss: Join our Patreon
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Time Stamps:
- 12:02 \\u2013 How did Bed in the Box start and how has the industry changed?
- 14:30 \\u2013 How did Covid-19 affect the bedding business?
- 17:07 \\u2013 How does bedding sales online compare to in store purchases?
- 18:20 \\u2013 Where does technology fit in as it relates to mattresses?
- 20:20 \\u2013 How did you get so popular on amazon and become a top 250 seller?
- 23:04 \\u2013 How do your mattresses compare to other big brands?
- 24:43 \\u2013 What was the process like for crowd funding the business?
- 29:15 \\u2013 Can you now raise money through other means?
- 29:49 \\u2013 How long has the listing been up on startengine and how has it been going?
- 30:46 \\u2013 What do you have planned for the business over the next few years?
- 34:20 \\u2013 Sam and Derek review
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