Sramana Mitra: Does that mean that San Francisco and New York are your two major customer bases? Kyle Vucko: Not exactly. They’re part of our top 10. Because we are still looking for shorter term real estate, we’re looking simultaneously at 10 cities. Once we find the location that’s the right price, we’ll move in.
Sramana Mitra: In 2010, you have $4 million more capital. What does the competitive landscape look like at this point? Are you starting to see competitors? Kyle Vucko: Not really. We did see some smaller competitors who came and went. The competition landscape was pretty bare. Sramana Mitra: As a result, does that mean that
Sramana Mitra: How did you go about doing that? Is this your own factory or a third-party that you built a relationship with? That is the cornerstone piece of the delivery part of this business, right? Kyle Vucko: There’re so many other pieces that go into delivering. Sramana Mitra: Acquisition and all that is regular
Sramana Mitra: What did that allow you to accomplish next? Kyle Vucko: That allowed us to hire a couple of people to really figure out some of the paid acquisition side and continue to refine our processes and scale. Sramana Mitra: Paid advertising kind of stuff?
Kyle Vucko: A smaller handful of my mentors got very engaged with the business planning process, providing feedback every few weeks. After being unsuccessful in getting the money in the business plan competitions, I went back and told one of them that we want to raise money and take this to the next level. He agreed immediately and offered some terms. I
Sramana Mitra: Let’s stay in the 2006 to 2007 timeframe. I’m assuming that you’re talking about a period when you hadn’t yet started the business because all of these things had to be in place to launch a custom tailoring shop, right? Kyle Vucko: Right. Sramana Mitra: So you identified one or two tailors in