BoxedUp’s $2.3 Million Round Launch Deck – TechCrunch


Back in March, I wrote about how BoxedUp pivoted to enable sharing of high-end video production gear and its $2.3 million seed round. At the time, company founder Donald Boone got stuck, so when I started the pitch deck teardowns, I knew I wanted to feature BoxedUp in one of the episodes.

Today, we take a close look at the pitch deck that helped Boone raise the company’s first round of institutional capital.

I’m grateful to BoxedUp for sharing a completely unredacted deck with us – all the details the company used to raise funds are in there, so it’s a particularly representative deck.

We’re looking for more unique pitch decks to take down, so if you’d like to submit yours, here’s how you can do so.

Slides in this deck

  • 1 — Cover slide
  • 2 — Team Highlights Slide
  • 3 — Business cycle slide
  • 4 — Market Size Slide
  • 5 — Problem slide 1
  • 6 — Problem 2 slide (shows equipment price)
  • 7 — Problem slide 3 (problem faced by equipment owners: underutilized high-end equipment)
  • 8 — Problem slide 4 (problem faced by creators: bad rental options and high price)
  • 9 — Solution Slide
  • 10 — Marketing strategy
  • 11 — “Previous clients” slide
  • 12 — Target Audience Slide
  • 13 — Business model slide
  • 14 — Traction slide
  • 15 — Projection slide
  • 16 — Competition slide
  • 17 — Market Size Slide
  • 18 — Cover Slide (“Where BoxedUp Goes”)
  • 19 — Roadmap slide
  • 20 — Team Slide
  • 21 — End of slide
  • 22 — Use of funds and fundraising progress slide

three things to love

BoxedUp quickly demonstrates an in-depth understanding of the market it is in and convincingly explains why high-end video and audio equipment makes sense.

As the company states in its presentation (Slide 6), a full set of video equipment for high-end filming can cost $100,000, or about the same price as a high-end luxury sedan. You wouldn’t buy a convertible for a weekend; you’d rent one, so there’s no reason why you shouldn’t when shooting a music video either.

A great illustration of bottom-up market sizing

[Slide 12] BoxedUp points out that it has a huge beachhead market. Picture credits: BoxedUp.

On its 12th slide, the company does something really clever – it describes its beachhead audience. This is the first audience the company plans to target with its marketing efforts. Without specifying it, it shows that it has a huge annual market potential (12,000 cinematographers executing 20 to 50 projects per year with a budget of $15,000 to $1 million), with annual expenditures ranging from 3 $.6 billion at the bottom of the scale to $600 billion at the top end.

We can say if those numbers are realistic and what chunk BoxedUp is likely to grab from that budget, but it tells me one thing for sure: if the founder can defend those numbers in a market, he has a business at the scale of his business. hands.

From startup to scaling

[Slide 13] Markets are notoriously tough, but the company anticipates tough questions by tackling the transition head-on. Picture credits: BoxedUp.

One of the biggest challenges in marketplaces is priming the pump. Turo, for example, would be useless if it had no inventory, but it would be equally useless if it had no one to rent its cars to.

Reaching a balance point is notoriously difficult. Too much inventory and equipment owners get restless because no one is ready to rent anything. Too many tenants, and that side of the equation breaks down, because it gets too expensive (landlords are likely to raise the price), or there’s no equipment available.

It’s a tricky dance, but BoxedUp has an elegant solution: solve the market supply by buying a bunch of equipment that he can rent. This means they can focus their marketing efforts on tenants and fully control the experience. Once it’s launched, it can communicate what it’s learned to the offer as well as data on the types of equipment customers want and are willing to rent.

Traction, market segmentation and storytelling

[Slide 14] The rapid revenue growth and steady growth of its two business models paints a promising picture. Picture credits: BoxedUp (Opens in a new window)

I rarely present three slides in a row in these teardowns, but wanted to highlight how slides 12, 13, and 14 together tell an important part of the story.

Slide 12 explains the size of the market for its initial customer; slide 13 shows how the company tackles one of the most difficult problems in a market economy (imbalance between supply and demand); and slide 14 shows that the strategy is working. There is roughly a 50-50 split between first party rentals (i.e. BoxedUp’s own equipment on the platform) and third party rentals (i.e. rentals of market).

Of course, those numbers reflect activity in September and we don’t know what’s happened since, but if the company has managed to maintain its growth trajectory, I’d be very surprised if I didn’t end up writing about the company that’s lifting a Monster Series A round very soon.

Having good narration and story arcs in presentations is crucial, and these slides do three things extremely well: there’s very little content on the slides, so there’s no confusion about what the founders want you to watch; they tell a clear and unambiguous story; and the three slides work in perfect harmony.

In the rest of this teardown, we’ll look at three things BoxedUp could have improved or done differently, along with its full pitch deck!

Three things that could be improved

BoxedUp successfully answers some of the toughest parts of a market startup story in its game and deserves major kudos for this part of the field.

However, other aspects of his deck were a bit more confusing to master.


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