Alameda County SBDCOakland, CA

“The SBDC was instrumental in helping me get started on the complex and sometimes cloudy process of fund raising for a technology company.”

 

Diishan Imira

Background: Mayvenn is an offline-to-online retail solution for the Salon industry. We provide web and mobile point-of-sale applications that allow salons and stylists to retail products without having to buy or hold inventory.

Challenges: Mayvenn sought funding to build an ecommerce application to allow hair-stylists to retail products without having to hold inventory or go to a beauty supply store.  Mayvenn had developed relationships with high quality beauty product suppliers in China and had been selling those products door-to-door.  Mayvenn realized that a technology solution would not only be more effective, but could also allow hair-stylists to benefit from an additional revenue stream by earning commissions on products they sold their customers who trusted them.

Actions: Mayvenn worked with a Business Advisor at the Alameda County SBDC to develop its investor pitch, PowerPoint, and financial model to begin approaching investors.

Results: Mayvenn received initial seed funding. After finding a technical co-founder, Mayvenn was selected for 500 startups and raised equity funding. The company launched its online application in October 2013, and subsequently raised $13 million of venture capital financing to expand operations.

Apply Now

It all starts here. Complete the application and submit your request. A member of the SBDC will follow up with you and help you achieve your small business goals -- at no cost to you.
English French German Italian Portuguese Russian Spanish

This procurement technical assistance center is funded in part through a cooperative agreement with the Defense Logistics Agency.