BloomThat tightens its belt ahead of national launch - Business Insider

BloomThat tightens its belt ahead of national launch - Business Insider

You have successfully emailed the post. Burning through $550k a month, BloomThat only had four months of cash left to live — then turned it around BloomThatBloomThat cofounders David Bladow and Matt Schwab The "oh s---" moment came in July when David Bladow was 3,000 miles away from his startup.  In New York to expand into another market, the co-founder and CEO of flower delivery startup BloomThat learned his company had been burning through more than $550, 000 in cash every month. At that rate, his startup would be dead in four months.  "It pushed us into a corner where it was raise or you're dead," Bladow said. "We were not putting ourselves in a position to be in control of your own destiny." It's hard to imagine a founder not knowing that a company could be losing that much. Yet, it snuck up on Bladow. His accounting was a "convoluted mess" and by the time it was untangled, the company was in jeopardy. But Bladow turned it around. He believed in his idea and his team,

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