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UrbanStems is announcing that it has raised $12 million in Series B funding.
CEO Seth Goldman told me the startup has already been using the money to expand nationally. He explained that UrbanStems now has two delivery models — there are bike couriers who deliver plants and flowers within two hours in New York City and Washington, D.C. (where the company is headquartered), and then there’s a third-party shipping partner who offers next-day delivery to anywhere else in the United States.
Company - Bike - Couriers - Goldman - Strategy
The company started out with bike couriers, and Goldman said it’s not abandoning that strategy: “We will find areas where there’s enough demand to warrant jumping in, boots on the ground.”
Recent initiatives include a partnership with Vogue, with bouquets created by Vogue editors. In addition, the company has been expanding beyond flowers (where prices start at $35) and plants ($50) by offering curated gift boxes ($55). It sounds like Goldman has plans to do more in this area, too.
Gifting - Market - Flower - Market - Product
“The gifting market is far bigger than just the flower market,” he said. “We are providing more than a product … Gifting itself is a highly emotional, vulnerable experience. [You want to] make sure it gets there successfully, make sure it gets there on-time, make sure they love it, it’s packaged well, every little detail...
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