In 2014, Facebook made some changes that affected your business model. What happened? We’d been taking orders directly in the Facebook News Feed, and it was vital to our business. But when Facebook switched over to a pay-toplay platform, it closed the funnel so suddenly. Our sales went down something like 50 percent in a month.
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A Bankable Pet Project - How Moonshots Capital helped eTailPet scale up and attract a buyer in just three years.
Berenice Giannini's startup, eTailPet, wasn't a natural fit for Moonshots Capital. The Austin-based venture firm, launched in 2014 by Kelly Perdew and Craig Cummings, both of whom had previously served in the U.S. Army, frequently backs companies founded by military veterans.
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Three years ago, U.S. entrepreneurs were enjoying one of the best funding environments in decades. Venture capital and private equity hit all-time highs as banks loaned at historically low interest rates. All you needed to get a term sheet, it seemed, was a smile and a pitch deck.
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