![]() ![]() Enever called May that night, and they started working on the idea that would turn into Quip. His dentist told him that while electric toothbrushes were guiding Americans to brush better than before, individuals were still not brushing often enough, changing the brush heads or going to the dentist. The idea for the Quip toothbrush came to Enever in October 2012 while he was sitting in the chair of a dentist in Queens, New York - his first dental appointment in the States. May worked for Lifetime Brands, which designs kitchen products for big consumer names, including the Farberware and KitchenAid lines. Enever worked at Fuseproject, which was responsible for the first bluetooth speaker, Jambox, and home lock system August. Investors in the November round included pop artist Demi Lovato and Sherpa Capital, whose founders invested in luxury eyewear upstart Warby Parker, as well as Facebook and Uber.Įnever and May come from an industrial design background. trusting someone that wasn't from their world." "It didn't really matter how great they thought our idea was necessarily or the business plan, but. "I think there's a lot of nervousness when people start thinking about investing in a designer's company," Enever said. While the toothbrush sales sector is ripe for competition, the Quip founders had to convince investors they could compete even though they didn't come from a background in business or marketing. It's not only start-ups that see opportunity in the slow-moving dental market: Amazon is attempting to cut out dental supply companies.Īt the time of its launch, Quip was entering a competitive market with brands that had been selling electric toothbrushes for decades, including the duopoly of Sonicare and Oral-B, which together command as much as 70 percent of the online sales market, according to a recent analysis that looked at data in the one-year period up to January 2017. Enever said they are now on track to have 1 million customers by the end of 2018.Ĭonsumer product companies that have long dominated retail sales with little competition or pricing pressure have been under attack in recent years by venture-backed start-ups selling direct to consumers online, from razors to eyeglasses. By the end of 2016, it sold 100,000 toothbrushes. Quip officially launched in November 2015. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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