Joe Apfelbaum
👤 SpeakerAppearances Over Time
Podcast Appearances
He was a friend of the family.
How much did he put in?
He put in a million dollars.
Why did you raise capital?
We raised capital because he just offered us money and he believed in us.
How much did you give to him in terms of equity?
We believe in the business.
I don't want to share that.
Your burn was too high.
It wasn't, it wasn't, we, we own the majority of the business.
So it was a very small stake in the business.
Yeah.
But why give up any of it?
You're going to get diluted by taking a million.
If you didn't need the cash, why do it at all?
Because we wanted to have the partnership with them.
It was very important for us to have that type of, that type of partners with us to need to grow.
Why was it strategic?
What were their backgrounds?
They're back.