Ryan Shank says Primary Capital reversed its rejection after he showed how his company could hit $100 million in revenue without owning half the market. They're now considering a $500k to $800k check, with a decision expected within the week.
Chapters
On the way out, he said, also, I like a guy that doesn't accept a pass. Yeah, because they passed, and I was like, nah, don't pass. Guys, so we just met with a VC. Well, I'm going to say their name. We might have to bleep it out, but we met with Primary Capital. We've been talking to them for like a month or two. They're going to come into our round for like anywhere between $500K and $800K. Pretty big check. They actually passed on us this past weekend. I'm out. Their kind of question, which is fair in VC land, was like, how do you build a $100 million revenue company and not have to take up like 50% of the market? We sort of pushed back on them passing. We were like, whoa, whoa, whoa, let us tell you the whole plan. It's up in the air, we don't know, they're not gonna be like, maybe we weren't like, we'll tell you, but they're meeting right now. I would imagine they'll have a decision like this week. I mean, I think they're going to do it. I would do it if I was them. Good. On a scale of like 1 to 10, how— what do you think the likelihood of this going through is? Realized really quickly that Wall Street wasn't recruiting like 3.0 majors out of a public school in South Carolina. He was like, we write $400K checks. I was like, do you want to see the financial auditors? No. That's a big deal. That would be like our third biggest, second biggest, that would be our third biggest. This is future Ryan coming at you, wanted to just recap what just happened. Ooh, getting a call right now. Hello, this is Ryan. I can't talk right now though. Wait, so guys, yeah, what you just saw on the vlog today, so yeah, the meeting in the morning, we're gonna update you guys tomorrow on the vlog that comes out tomorrow on the result of that meeting, so stay tuned, make sure to smash that subscribe button, turn the notifications on, and throughout the day, like again, we're actually closing the round tomorrow, so on tomorrow's vlog, you guys are gonna see we're closing it out. Appreciate you guys following along, along. I hope you're getting some value from this, and as always, I hope you're out there working hard, doing your own thing, being pioneers, okay? Don't just do what everyone else is doing. Be wagoners, and we'll see you guys tomorrow. Peace. [MUSIC] [MUSIC]
