$50M for Athletic Brewing!

Sponsored by

News

Tesla shares drop as robotaxi launch is delayed

Tesla shares dropped 8.4% as the robotaxi launch is pushed back by two months to October.

This move ended the stock's 11-day winning streak and left investors wondering if this setback is merely setting the stage for a more spectacular debut.

Is this just a bump in the road? I think so, best we don’t bet against Elon ha!

Here’s some more info…

Today’s Sugar Daddy

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Story

It’s only Faire!

When Daniele Perito, Marcelo Cortes, Max Rhodes, and Jeffrey Kolovson founded Faire in 2017, their mission was clear: revolutionize the wholesale market and empower local retailers & makers

Before founding Faire, they all worked together at Square for a few years.

But when they wanted to make a company, they spit balled quite a few ideas, from car insurance to dental drills, before landing on the wholesale marketplace. Clearly they chose right ha!

So they got nowhere for 9 months (more or less), but the key componant was offering 60 day payment terms. When they put that in, it suddenly started to take off.

To be fair though, it was September when they offered that, which is a key time for retailers to buy stuff before Christmas and Black Friday.

They had some problems though, a shed load of returns in January… Pretty sure you retailers out there have experienced this, I certainly did.

But within 6 months they got their return rates down by 75% and defaults down by almost 90%. Big.

Check the story out here. And check Faire out here.

Funding

$50M for Athletic Brewing!

Looks like investors are getting thirsty for healthier options.

Especially General Atlantic, they led the round.

The non-alcoholic beer market is bubbling, and the new cash will help Athletic expend globally - they’re gonna try and get their drinks in retailers around the world.

Also, they’ve just bought 1/3rd of a brewing facility in the US, so likely the dosh will help them get up and brewing with that.

Here’s more details

Recommendation

Dharmesh Shah runs Hubspot (doing over $2bn in sales).

But the generous man has decided to do a newsletter, and share some of his knowledge.

I, for one, am definitely taking advantage of that.

You can too - here’s his newsletter:

Meme of the Day

So a friend of mine got their email hacked last week. Here was my response…

Buy me a beer? Damn I love beer…even non-alcaholic! Give me that golden goodness! - Rob