The Pitch
#120 Bevz: A Tech Bro Walks Into a Corner Store...
Sep 27, 2023
Jason Vego, founder of a high conversion rate SaaS platform for convenience stores, pitches Bevz and discusses challenges of introducing technology to the industry. They share their personal story, funding history, and marketing strategies towards Asian Americans. The podcast also explores equity negotiation, retailer and brand partnerships, and fundraising progress.
32:29
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Quick takeaways
- Bevz, a startup focused on selling software to convenience stores, has achieved impressive metrics including a 95% conversion rate from free trial to paid subscription and 99% monthly retention.
- One of Bevz's main challenges is the resistance of convenience stores to adopt new technology, but their deep understanding of the industry, self-reliant onboarding process, and partnerships with major convenience store chains have contributed to their success.
Deep dives
Bev's: Selling Software to Convenience Stores
Bev's is a startup that is focused on selling software to the convenience store industry. Although convenience stores are typically resistant to technology, Bev's has built a SaaS platform specifically designed for this industry. The platform helps convenience stores stock the products their customers want and facilitates easy in-store and online sales. With 330 stores using the platform and impressive metrics such as 95% conversion from free trial to paid subscription and 99% monthly retention, Bev's is aiming to acquire 2,000 convenience stores and reach a $3 million run rate ARR before raising their next round. They have already raised $1.6 million and are considering a new round at a valuation of $15 million.
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