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Matteo Franceschetti

๐Ÿ‘ค Speaker
220 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

And then I think, if I remember correctly, I go by memory, but then KV, because LaVenture came in with another 10 or 12.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

And then we raised from Founders Fund a year and a half later.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

I mean, the run from funders fund was 20 or 25, I think 25.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

And so the total, the total is 70 million where we have raised more or less.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

There is nothing public, but I can tell you that people that love what we are doing are supporting us also financially.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

Yeah, there's another great question.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

So at the time, obviously we didn't have the cooling.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

The cooling is the big elephant in the room for sleep improvement and in terms of product market fit.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

So we were really trying to make a smart bed position like most of the other D2C brands.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

After KEV came in and Keith joined our board together with Deleon, we really started rethinking our... Keith Ravoy.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

Keith Ravoy.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

And so we started really rethinking about our brand positioning and what we wanted to build.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

Obviously, the product became immediately more expensive because of the new technology.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

So there was no way to be at a thousand bucks.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

But more than anything, I mean, there is this theory, which I believe comes from Marc Andreessen, where great products, you can keep increasing the price and people will pay for that as long as you keep delivering more value.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

And I think that is what happened compared to then probably our conversion rate on the website.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

CPR is probably three X, which we had back then, but our AOV is three X as well.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

They were working, they were okay.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

Now they are awesome.

SaaS Interviews with CEOs, Startups, Founders
Will $80M Mattress King Launch Subscription Next?

I mean,