198: Crowdfunding the Bed in a Box with Viscosoft Founder & CEO Gabriel Dungan

Sam interviews Viscosoft Founder & CEO Gabriel (Gabe) Dungan about crowdfunding his bed in a box startup. The two go back over a decade to their startup days in China and explain the technology and how Gabe has transitioned the business to the United States. Then Sam and Derek recap the business, talk about their experiences with bed in a box, talk bad mattress stories and go over Sam's personal investment in the company. Viscosoft wants to change the way the world sleeps. With a background in textile engineering, product development, and sensor technology, our mission is to provide consumers around the world with high-end bedding products that deliver ultimate comfort, unmatched value and the smartest, data-driven sleep experience ever to exist.   Viscosoft is poised to become one of the most recognized brands in the $432B sleep industry. We are an Amazon top 250 seller and have several products that have been recognized by industry experts for delivering great sleep through thoughtful design and innovative materials, including Good Housekeeping’s prestigious ‘Best Bedding’ award in 2021. Over the past 4 years, more than 500K direct consumers have contributed to revenues of more than $95M and increased profitability last year. 2020 revenues reached $30M as the direct-to-consumer business (Viscosoft.com) grew more than 700% YoY from increased brand recognition, customer loyalty programs & product partnerships.   Sleep technology is a $12.5B industry and expected to reach $40.6B within the next 5 years. Viscosoft is committed to delivering a first-of-its-kind mattress topper with integrated sleep-quality sensors for under $200. Listen to ILAB 198 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Ukraine / IG @johnnyfdj Sam Marks – Ireland/ IG @imsammarks Derek Spartz - Venice Beach / IG @DerekRadio Sponsor: RAD DiversifiedRAD Diversified REIT allows investment partners to invest in cash-flowing properties with substantial value-add opportunities. RAD Diversified offers monthly distributions, a 5% bottom-line guarantee,  and achieved a 36.7% return in 2020. Support Invest Like a Boss: Join our Patreon Discussed: ViscoSoft Group Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) Betterment – Get up to 1 year managed free Wealthfront – Get your first $15,000 managed free PeerStreet – Get a 1% yield bump on your first loan *Johnny and Sam use all of the above services personally. Time Stamps: 12:02 – How did Bed in the Box start and how has the industry changed? 14:30 – How did Covid-19 affect the bedding business? 17:07 – How does bedding sales online compare to in store purchases? 18:20 – Where does technology fit in as it relates to mattresses? 20:20 – How did you get so popular on amazon and become a top 250 seller? 23:04 – How do your mattresses compare to other big brands? 24:43 – What was the process like for crowd funding the business? 29:15 – Can you now raise money through other means? 29:49 – How long has the listing been up on startengine and how has it been going? 30:46 – What do you have planned for the business over the next few years? 34:20 – Sam and Derek review If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here!  Copyright 2021. All rights reserved. Read our disclaimer here.