Pitch Deck Teardown: BoxedUp’s $2.3M seed spherical pitch deck

Again in March, I wrote about how BoxedUp pivoted to enable high-end video production gear sharing and its $2.3 million seed spherical. On the time, the corporate’s founder Donald Boone caught out, so after I began the pitch deck teardowns, I knew I wished to characteristic BoxedUp in one of many installments.

At present, we’re taking an in depth have a look at the pitch deck that helped Boone increase the corporate’s first spherical of institutional capital.

I’m grateful to BoxedUp for sharing a very unredacted deck with us — all the main points the corporate used to boost the cash are in there, so it’s a notably consultant deck.

We’re on the lookout for extra distinctive pitch decks to tear down, so if you wish to submit your individual, here’s how you can do that

Slides on this deck

  • 1 — Cowl slide
  • 2 — Workforce highlights slide
  • 3 — Enterprise cycle slide
  • 4 — Market dimension slide
  • 5 — Drawback slide 1
  • 6 — Drawback slide 2 (exhibits the worth of kit)
  • 7 — Drawback slide 3 (drawback as skilled by tools house owners: under-utilized premium tools)
  • 8 — Drawback slide 4 (drawback as skilled by creators: poor rental choices and excessive value)
  • 9 — Answer slide
  • 10 — Go-to-market technique
  • 11 — “Earlier clients” slide
  • 12 — Target market slide
  • 13 — Enterprise mannequin slide
  • 14 — Traction slide
  • 15 — Projection slide
  • 16 — Competitors slide
  • 17 — Market dimension slide
  • 18 — Cowl slide (“The place BoxedUp goes”)
  • 19 — Highway map slide
  • 20 — Workforce slide
  • 21 — Finish slide
  • 22 — Use of funds and fundraising progress slide

Three issues to like

BoxedUp shortly demonstrates a deep understanding of the market it’s in and makes a compelling case for why high-end video and audio tools is sensible.

As the corporate outlines in its deck (slide 6), a full set of video tools for a high-end shoot can price $100,000 — about the identical as a high-end luxurious sedan. You wouldn’t purchase a convertible for a weekend journey; you’d hire one, so there’s no purpose you wouldn’t do this when capturing a music video both.

A wonderful illustration of bottom-up market sizing

[Slide 12] BoxedUp makes the purpose that it has an enormous beachhead market. Picture Credit: BoxedUp.

On its twelfth slide, the corporate is doing one thing actually intelligent certainly — it outlines its beachhead viewers. That’s the first viewers the corporate is planning to focus on with its advertising and marketing efforts. With out spelling it out, it exhibits that it has large annual market potential (12,000 cinematographers working 20-50 initiatives per yr at a $15,000-$1 million funds), with annual spend starting from $3.6 billion on the low finish to $600 billion on the excessive finish.

We are able to discuss whether or not these numbers are real looking and what share BoxedUp is more likely to seize of that funds, but it surely tells me one factor for positive: If the founder can defend these numbers in a single market, they’ve a venture-scale enterprise of their fingers.

From startup to scale-up

[Slide 13] Marketplaces are notoriously exhausting, however the firm preempts exhausting questions by tackling the transition head-on. Picture Credit: BoxedUp.

One of many actually massive challenges with marketplaces is priming the pump. Turo, for instance, could be ineffective if it doesn’t have any stock, however it could be equally pointless if it doesn’t have anyone to hire its vehicles.

Getting to a degree of equilibrium is notoriously exhausting. An excessive amount of stock and the tools house owners get stressed as a result of no person is prepared to hire something. Too many renters, and that aspect of the equation falls aside, as a result of it will get too costly (house owners are more likely to crank up the worth), or there isn’t any tools obtainable.

It’s a fragile dance, however BoxedUp has a sublime resolution: Clear up the availability aspect of the market by shopping for a bunch of kit it could hire out. Meaning it could focus its advertising and marketing efforts on the renters and absolutely management the expertise. As soon as it will get traction, it could talk what it realized to the supply-side together with information about what forms of tools clients need and are prepared to hire.

Traction, market segmentation and storytelling

[Slide 14] Fast income progress and easy progress throughout each its enterprise fashions paint a promising image. Picture Credit: BoxedUp (opens in a new window)

I not often characteristic three slides in a row in these teardowns, however I wished to spotlight how slides 12, 13 and 14 collectively inform an essential a part of the story.

Slide 12 explains the dimensions of the marketplace for its preliminary buyer; slide 13 exhibits how the corporate is tackling one of many hardest issues with a market economic system (provide and demand aspect imbalance); and slide 14 exhibits that the technique is working. There’s a couple of 50-50 cut up between first-party leases (i.e., BoxedUp’s personal tools on the platform) and third-party leases (i.e., market leases).

In fact, these numbers replicate the enterprise in September and we don’t know what occurred since, but when the corporate managed to maintain its progress trajectory, I’d be very stunned if I don’t find yourself writing in regards to the firm elevating a monster Collection A spherical very quickly.

Getting storytelling and narrative arcs proper is essential in pitches, and these slides do three issues extraordinarily properly: There’s little or no content material on the slides, so there’s no confusion about what the founders need you to have a look at; they inform a transparent and unambiguous story; and the three slides work in good live performance.

In the remainder of this teardown, we’ll check out three issues BoxedUp may have improved or carried out in a different way, together with its full pitch deck!

Three issues that could possibly be improved

BoxedUp efficiently solutions among the hardest components of a market startup story in its deck and deserves main kudos for that a part of the pitch.

Different facets of its deck had been just a little bit extra complicated to get a deal with on, nonetheless.

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