Sign up to save your podcasts
Or
Share Ep 105: Interview with Steve Bofill, founder of Vengo
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Ep 105: Interview with Steve Bofill, founder of Vengo
The vending machine industry hasn't changed much over the past few decades but Vengo is changing that. Their smaller, super cool looking digital machines with big vibrant screens are giving facilities and venues a new way to sell products to customers and guests.
Vengo was started by 3 guys in early 2012 who were determined to transform the multi-billion vending machine industry even though they knew it would be a ton of work considering it was hardware, software, manufacturing and distribution. Earlier this year you might remember seeing Vengo on Shark Tank where they were able to land a deal with Lori and Kevin for $2 million. All together has raised $5+ million from approximately 20 investors including Brad Feld, Gary Vaynerchuk, Joanne Wilson and then a bunch of VC funds.
The company has been mostly focused on the NY/NJ area over the past year but now they're quickly expanding across the country. They currently have 400 units installed with plans to add another 300-400 units over the next few months. I could easily see this company deploying thousands of units over the next few years.
In this interview we covered dozens of topics including why Steve started this company, what the hardware/software development process looked like, how they were able to stay lean, the fundraising process, their experience with Shark Tank, the sales process, how they work with brands who want their products inside the Vengo machines, how fast the company is growing, how big this market opportunity will be and much more.
Thanks for listening.
-----
All of our interviews and episodes are available at StartupSense.net
Please subscribe to the Startup Sense Podcast on iTunes, Google Play, SoundCloud, Stitcher Radio and YouTube.
-----
You can find me on Twitter, Facebook, Linkedin, AngelList and at JonahLupton.com
Message me at [email protected]
-----
The Startup Sense Podcast is sponsored by the Lupton Group -- our team can help your company with all of your design, development, branding and marketing needs. Please visit our website at Lupton.group and send us a message for a free review, analysis and consultation.
View all episodes
By Jonah LuptonThe vending machine industry hasn't changed much over the past few decades but Vengo is changing that. Their smaller, super cool looking digital machines with big vibrant screens are giving facilities and venues a new way to sell products to customers and guests.
Vengo was started by 3 guys in early 2012 who were determined to transform the multi-billion vending machine industry even though they knew it would be a ton of work considering it was hardware, software, manufacturing and distribution. Earlier this year you might remember seeing Vengo on Shark Tank where they were able to land a deal with Lori and Kevin for $2 million. All together has raised $5+ million from approximately 20 investors including Brad Feld, Gary Vaynerchuk, Joanne Wilson and then a bunch of VC funds.
The company has been mostly focused on the NY/NJ area over the past year but now they're quickly expanding across the country. They currently have 400 units installed with plans to add another 300-400 units over the next few months. I could easily see this company deploying thousands of units over the next few years.
In this interview we covered dozens of topics including why Steve started this company, what the hardware/software development process looked like, how they were able to stay lean, the fundraising process, their experience with Shark Tank, the sales process, how they work with brands who want their products inside the Vengo machines, how fast the company is growing, how big this market opportunity will be and much more.
Thanks for listening.
-----
All of our interviews and episodes are available at StartupSense.net
Please subscribe to the Startup Sense Podcast on iTunes, Google Play, SoundCloud, Stitcher Radio and YouTube.
-----
You can find me on Twitter, Facebook, Linkedin, AngelList and at JonahLupton.com
Message me at [email protected]
-----
The Startup Sense Podcast is sponsored by the Lupton Group -- our team can help your company with all of your design, development, branding and marketing needs. Please visit our website at Lupton.group and send us a message for a free review, analysis and consultation.