-
Security Type
-
Preferred Stock
-
Categories
-
Other
-
Min Investment
-
$1,000
-
Offering Date
-
February 23, 2019
-
Expected Close Date
-
May 24, 2019
-
Target Raise
-
$250.00K-$750.00K
-
Deal Notes
-
Option Pool: 7.5%
Liquidation Preference: 1.0x
Share Price: $2.4390
-
Valuation
-
$2,500,000
Company Description
Online Indian grocery delivery - the convenient way to shop for Indian ingredientsImagine devoting 3 to 5 hours a week navigating through endless aisles and standing on long lines just to buy groceries that remind you of home. Now imagine there's no in-store customer service, and varying prices with a limited selection of products forces you to visit multiple stores. No one should have to experience this much stress and difficulty shopping for groceries, but this is what Indian grocery consumers have to deal with regularly. Indian grocery shopping has not changed much in the last 50 years, and fair-priced and high-quality Indian ingredients are not easily accessible to many of the over one million Indian households in the United States. Through key partnerships with wholesale suppliers and FedEx as our last-mile provider, Subziwalla provides a market solution for a seamless Indian grocery shopping experience. Our service, presentation, execution, and education of our customers is the reason we’ve been growing at 80% quarterly and 56% of our orders are repeat orders. This growth and traction in our launch market of Metro-Atlanta have proven both the demand and strength of the brand through our first 10 months in operation.
Perks
ThumsUpwalla: Investors of $1,000 or more will receive a thank you note from the Founders and a signature #Subzibuddy insulated tote including a can of delicious Thums Up.
Chaiwalla: Investors of $5,000 or more will receive ThumsUpwalla perks plus a #Subzibuddy filled with swag and some of our favorite Indian snacks and sweets.
Chaatwalla: Investors of $10,000 or more will receive Chaiwalla perks plus a personal thank you call from the Founders.
Tiffinwalla: Investors of $25,000 or more will receive Chaatwalla perks plus an invite to a dinner with the Founders.
Thaliwalla: Investors of $50,000 or more will receive Tiffinwalla perks plus exclusive access to engage with the Founders through invite-only email and WhatsApp groups.
Daavatwalla: Investors of $100,000 or more will receive Thaliwalla perks plus quarterly 1-on-1 conference sessions with the Founders.
Key Deal Facts
80% average quarter-over-quarter revenue growth; $37k+ lifetime revenue (unaudited)
Fulfilled more than 400 orders at an AOV > $70
25% of users have made an order with a Cost Per Acquisition of less than $13
56% of orders are repeat orders; 17% increase in repurchase AOV; 23% power shoppers (3+ orders)
Use of Proceeds
Sales & Marketing: 50%
Inventory: 25%
Operating Capital: 25%
Management Team / Advisory Board Bios
Sajal Rohatgi - Co-founder
Sajal has over fifteen years of extensive experience in investment banking, private equity, supply chain and business operations.Prior to working full-time on Subziwalla, Sajal was a Consultant for entrepreneurs and small businesses with a focus on finance and business operations. Formerly, he worked in the financial industry as a portfolio manager overseeing $25M in investments at various firms in New York; Business Development Manager at Independent Mobile Infrastructure limited, Delhi, India; Project Engineer at Reliance Communication, Delhi, India. In these capacities, he has been directly responsible or associated with the acquiring and development of new businesses with further implementation of supply chain processes. Sajal holds a B.S. degree in Electrical Engineering from MDU and has earned Masters in Finance from University of Illinois at Urbana-Champaign.
Manav Thaker - Co-founder
Manav Thaker is an executive and entrepreneur with over fifteen years of experience directly managing marketing, business operations and front-line customer facing experiences. Originally from New York City, Manav has a proven record of operational success in strategically developing and executing customer acquisition and retention practices for some of the foremost retail, entertainment and hospitality brands, including Standard International and Ace Hotel Group. He relocated to Atlanta two and a half years ago via the Yucatan Peninsula, Mexico, where he was Director of Sales & Customer Experience for a Coqui Coqui Group, a boutique hotel chain and lifestyle brand. Prior to co-founding and working full-time on Subziwalla, Manav founded and was Principal Consultant of CODENAME:, a creative agency focused on designing omnichannel customer journeys for mission-driven B2B, B2C and nonprofit organizations.Manav lives in Downtown Atlanta with his wife and two cats.
Deal Notes
Option Pool: 7.5%
Liquidation Preference: 1.0x
Share Price: $2.4390