Thrive Market was declined by 20 VC firms when started financing

Thrive Market becomes a hot and popular startup. Its co-founders Gunnar Lovelace and Nick Green were declined by 20 VC firms when they started financing.

thrive

Their promotion point is that they are going to introduce an online platform that sells Organic and natural food. It will provide 25%-50% discount by availing of the $60 subscription fee from its each registered number.

Green said the VC investors all hold the wait-and-see attitude and no one wish to invest on our startup company. The situation is reverse now.

After running 15 months, Thrive Market’s running rate revenue reached $ 100 million, it financed $58 million. Its investors include VC firm Greycroft Partners, singer John Legend and actress Demi Moore.

The company stated that the Thrive Market website has over 180,000 subscribers. It increased by 600,000 registered users in Jan. 2016. Its website offers 30 days free trial.

It launched the first mobile application for iPhone on Thursday.

The two co-founders were declined by lots of investors. They reconsidered their promoted plan. In their opinions, Thrive Market is selling a lifestyle now.

They persuaded 200 respected figures in health industry to invest and support Thrive Market website. They are including Dr. Deepak Chopra, motivational master Tony Robbins and gymnasium coach Jillian Michaels.

They all have great reputation among the bloggers or YouTube stars. Thrive Market obtained the first financing $10 million with the help of those respected figures.

60% of Thrive Market traffic are from mobile devices since the release. Until now, it launched the app for iPhone devices. The new app is easy to handle and it has clear classifications.

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