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Why not spending our $1.3 million investment capital quickly was the best mistake we made
Bellabox, a mailed monthly beauty samples box, is booming.
Co-founder and chief executive Sarah Hamilton has previously shared the growth strategy that boosted their original 350 subscribers to over 100,000 with StartupSmart.
“We tell the brands we’re a marketing and sales service, and the channel we use is our subscription boxes and our online store. We’re not a glamorous beauty company. We’re logistics, we’re marketing and we’re all the other facets.”
To fund the growth, they raised $1.3 million in expansion capital from a range of investors including Square Peg Capital, Apex Capital, Monash Private Capital and a range of angel investors at the beginning of 2013.
In the video below, Hamilton shares why they didn’t immediately pursue their extensive growth plans, why it was a mistake and how it turned out for the best.