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1
HOW
NOT
TO
RAISE
CAPITAL
2
• CEO Oakwood Media
• Chairman ParkWhiz
• Founder & CEO Beyond the Rack
• Advisor & Consumer DoughNats
• Mentor, Advisor, Angel Investor
• Husband, Father of Five
• BA, McGill - English Literature
• Started my first company at 19
• Raised $95 in Venture & Debt
A LITTLE ABOUT ME
JULY 2008
1. Two guys have an idea
2. Create a business plan
3. Looking for financing
BTR ESTABLISHES FIRST OFFICE
Largest downturn in equity markets since great depression
SEPT 2008
“If you really believe in the business,
proceed as though you’ll never get funded.
John Stokes
Real Ventures
6 months after we built
our business plan……….
And over 100 pitches to
VC’s and Angels
JANUARY 2009
“I like it… but it’s too small.
Prove it to me.”
Oliver Jung
European Super Angel
Website Launch
 1,000 friends & Family
 14 styles of SKY dresses
 Sold 2 units
JANUARY 21, 2009
BTR BY THE NUMBERS
10CONFIDENTIAL
 Founded BTR in 2009
 Raised $95M in equity and venture debt
 15 Million consumer members, 5,000 brand partners
 $150M run rate business
 Almost sold the company 3x to major retailers (LOI)
 Restructured and sold to private investor in June 2016
600K+ active buyers
8,000+ new items daily
$700M+ revenue
400 employees
2014 Brand of the Year
8 Lessons Learned
1. UNDERSTAND YOUR MODEL
2. TEST EVERYTHING
3. EMBRACE FAILURE
4. PERSIST
5. BUILD A TEAM
6. DREAM BIG
6. CHOOSE PARTNERS CAREFULLY – ALIGN INTERESTS
7. BE THE CEO
8. IT’S ONLY BUSINESS

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