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Changing The Game Of Alcohol Delivery With Lindsey Andrews
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Lindsey Andrews is the founder of Minibar, an on-demand alcohol delivery service that was acquired by Reserve Bar in 2021. Andrews is now the Founder and CEO of Revido, an app designed to revolutionize the way we review and recommend products and services.
Andrews' entrepreneurial journey began when she and her co-founder recognized the need for a convenient alcohol delivery service during their "takeout tuesdays," leading to founding the online alcohol delivery service, MiniBar. Throughout the interview, Andrews shares valuable insights and experiences from her entrepreneurial journey that led to Minibar’s acquisition. She discusses the challenges of navigating the highly regulated alcohol industry and the importance of having a strong network of advisors and investors. Andrews also touches on the difficulties of fundraising as a first-time entrepreneur and a woman in a male-dominated industry.
This episode is a must-listen for aspiring entrepreneurs, founders, MBA students, and managers. Andrews' journey is an excellent example of how to navigate the challenges of building a successful startup in a highly regulated industry. Her insights on fundraising, team building, and work-life balance are invaluable for anyone looking to start or grow a business. Additionally, her experience with the acquisition of Minibar and her decision to start a new venture provide a unique perspective on the different paths entrepreneurs can take after a successful exit.
Episode Outline
(00:00:00) Introduction
(00:02:58) Lindsey Andrews' upbringing and early exposure to business
(00:07:07) Educational journey at Stanford and Wharton
(00:10:11) Early career experiences at Fresh Direct, Amazon, and Quidsi
(00:15:30) Aha moment and founding Minibar
(00:20:15) Navigating regulatory challenges in the alcohol delivery industry
(00:23:18) Fundraising challenges and lessons learned
(00:26:05) Building a strong team and leveraging outsourced talent
(00:30:39) Positioning and marketing strategies for Minibar
(00:35:41) Losing a term sheet and managing cash burn during difficult times
(00:42:44) Balancing entrepreneurship and motherhood
(00:45:41) Growth and impact of COVID-19 on Minibar's business
(00:49:52) Decision to sell Minibar and the acquisition process
(00:53:38) Taking time off and deciding to start a new venture, Revito
(00:58:17) Inspiration behind Revido and challenges of building a new startup
(01:02:59) Fundraising for Revido and current challenges
(01:08:12) Lindsey's daughter's perception of her as an entrepreneur
(01:11:08) Conclusion and key takeaways for aspiring entrepreneurs and founders
Episode Links
Minibar - Lindsey Andrews' on-demand alcohol delivery startup
Revido - Lindsey Andrews' new venture focused on trusted recommendations
Reserve Bar - The company that acquired Minibar in 2021
Fresh Direct - Lindsey Andrews worked here prior to founding Minibar
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