E34 Tackling the formalwear industry with Queenly co-founders with Trisha Bantigue and Kathy Zhou
In this episode, Erasmus Elsner is talking to Queenly co-founders Trisha Bantigue and Kathy Zhou about building a consumer marketplace and tackling the formalwear industry. 00:00 Intro 00:56 The Queenly Elevator Pitch 01:52 Launching Queenly during lockdown 04:04 The pageant dress market 08:06 Formal wear resale market microstructure 10:16 The Queenly minimum viable product 12:37 Go to market strategy 14:56 Queenly marketplace metrics 16:36 The Queenly fundraising journey 20:40 Raising $6.3m From Andressen Horowitz 22:58 Solving the marketplace chicken and egg problem 24:58 Unlocking supply 27:02 Offering power seller tools to boost supply 28:15 Cracking the demand side 29:12 Facilitating Marketplace Transactions 31:36 Marketplace take rate 32:43 Competition And Playbook 35:16 Formal wear Price dynamics 38:22 The Queenly Vision