20VC: Cotopaxi: From Selling $6M of Pool Tables to Scaling $150M in Revenues and Challenging Patagonia, Fundraising Lessons from 100+ Rejections & What Founders Do Not Understand About VC with Davis Smith, Founder @ Cotopaxi
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
Challenges of Ambitious Purpose-Driven Business Model for Investors
The speaker reflects on the challenges faced due to a combination of factors including the timing of the market, the hard public market conditions, and ambitious restructuring of the organization. The speaker acknowledges that the focus on reassigning power to the foundation for driving decisions and using the business for good while promising great returns might have been too ambitious. They note that many investors may be hesitant to commit to a purpose-driven business for a prolonged period of time. The speaker recounts their experience of pitching to 100 investors with a mission-driven approach to secure initial funding, which eventually led to a successful investment. They highlight the early investors' decision to invest in the brand as a great investment. However, the speaker also expresses uncertainty about explaining certain aspects, leaving some aspects unresolved.
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