California-based Retold wants its company name to become the verb synonymous with textile recycling.
associated with carting each bag back to Retold and how it’s such a huge unknown, case by case.
“We don’t know what the volume is of what the customer is going to put inside. They might just put in some panties and socks, or they might put in something quite heavy like a cover,” Trumble said. “So it’s an interesting part of our model that the actual value of that label isn’t triggered until it’s scanned in the postage system.”
Prior to “Shark Tank”, the only seed funding Retold sought was a small friends and family round. The number-one priority for Cuban’s money is to leverage more affordable “We have volume through Mark’s network, and through the platform of the show — that gives us greater negotiating power to be able to ship to more hubs,” Trumble said. “The great thing though, is with our model, it’s all based on
, so everything is sort of like slow freight and gathered in those existing routes. It’s not like we’re adding truck[s] and adding emissions or anything like that; we’re sort of playing into existing networks.”
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