SaaS Interviews with CEOs, Startups, Founders
EP 621:BluePrintRegistry Raises $1.7M, Passes 2500 Postings and $10M in Transaction Volume with CEO Nevin Shetty
06 Apr 2017
Chapter 1: What is the main topic discussed in this episode?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base.
Chapter 2: What is Blueprint Registry and how does it work?
You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per top. Five and six million. He is hell-bent on global domination. We just broke our 100,000-unit soul mark.
Chapter 3: What revenue model does Blueprint Registry use?
And I'm your host, Nathan Latka. I just finished traveling Southeast Asia for 41 days, and I usually always get sick when I travel, and quite frankly, eating is difficult for me. It's hard to find a restaurant, and I'm spoiled in Austin with my personal chef. Well, I took these little packets with me this time, 30 of them, in my carry-on suitcase.
Chapter 4: What inspired Nevin Shetty to create Blueprint Registry?
They kept me totally healthy with 11 different secret ingredients. You can see them at nathanlaca.com forward slash juice. I'll tell you more later on in the show. That's nathanlaca.com forward slash juice. Nathan Latke here. This is episode 621, and coming up tomorrow morning, you learn from Nektaros. He's the 50-year-old CEO of the Accelerator.
It's a fintech accelerator in the UK, which has helped 60 companies and is really important because they're linking industry with startups with the $17,000 investment and a very small equity stake. He reveals his biggest success so far and how much the valuation was on that company. All right, guys.
Chapter 5: How did Nevin find his co-founder for Blueprint Registry?
Good morning. My guest this morning is Nevin Shetty. He's the co-founder and CEO of Blueprint Registry, an innovative wedding registry platform where you can shop for products from a variety of retailers based on the layout of your home. The company has generated over $10 million in its first two years of operation, which we're going to dive into today.
We're going to talk about it, and I think we're going to learn a lot from Nevin. Nevin, are you ready to take us to the top? Yeah, let's do it. Okay, very good. So tell us first, give us a better explanation of what the company does and how you generate revenue.
Yeah, so very simply put, we're a wedding registry platform.
Chapter 6: What were Blueprint Registry's sales figures in its early years?
So newly engaged couples come on our platform, add gifts from multiple different retailers. They can use visual layouts of rooms to help better know what they need, want, and desire for their new life together. And then they share one unique link with their friends and family, and then friends and family come to our website to buy it all for them.
And so what is this? Well, and describe to me the revenue model. How do you make money?
It's a very simple model. It's all commission-based. So we drive sales to retailers and they give us a commission cut when we sell goods.
Okay, got it.
Chapter 7: How does Blueprint Registry handle seasonality in sales?
That's helpful. So give us a specific example. So Paul and Jane are getting married. They say they want these things from... Who's one of your partners? Target, Bed Bath & Beyond?
Target, William Snowball, West Elm, Pottery Barn, Crate & Barrel, Amazon, the whole work. So traditionally how it's worked in the wedding registry world is you would go to a Macy's, you'd get the gun, you'd go... add 50 things to your registry, and you go do that at three different stores. So 85% of people who have a wedding registry have three retailers.
So you'd have to share three different links or three different invitations to people to go buy gifts.
Chapter 8: Who are Blueprint Registry's main competitors?
So what we've done is we've aggregated all that into one platform. So instead of going directly to Macy's, directly to Crate & Barrel, you can do it all on our platform. And what we've really found out is people, you know,
might like to do it in store but really they want to have everything online because it's way more convenient so we offer that feature i think the biggest differentiator for us is we have this unique visual representation of your home so you can go through and kind of see oh listen these are things i need in the kitchen but actually i need stuff in the office too or i want to add a honeymoon fund or home down payment fund as well and so that's a growing part of the business too okay got it and when did you take us back some of the story here so when did you launch the business what year
yeah so it's a it's a long story um the conception idea was january of 2013 but really the idea was you know i was living in new york for 10 years trying to open my apartment and realizing buying furniture online was a terrible process so the idea was can you build an e-commerce experience that's based on the blueprint or layout of a home so that was the big idea then and it was hard to figure out where to start found a co-founder lizzie who's an unbelievable designer
And we decided to focus in weddings to prove the concept. So we started.
How did you find her? People always struggle with co-founders. How'd you find her?
It was really tough. It was all through networking. So a friend, she had done design work for a number of other startups. And I originally approached her to ask her thoughts on the idea and see if she knew any design friends.
Okay. And you split it. Did you decide to split it 50-50?
Yeah.
going through a similar situation, trying to outfit my new home in Seattle. I want to be involved. So I met with, she was actually the first person I met, but I had scheduled coffees with a number of people to get their thoughts on the idea.
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