or,

Bye bye, Melbourne

 

Just time for a quick update. I’m at Brunetti’s at Melbourne International Jetport. Having my last taste of Melbourne before heading off overseas to take Passel to the world.

I hope I can stave off homesickness for the entire 57 hours I am in meetings in Dublin and Belfast, before I have to be home Friday so I don’t miss my kitchen hand shift at Lydford & Co.

That’s the startup lifestyle. International jetsetting one day, scrubbing pots and pans at suburban Melbourne’s best bar and burger joint the next.

I’m extremely excited about the possibilities¬†Ireland offers. As soon as any non-disclosure agreements are confirmed, I expect to tell you all about it.

 

New Investors

I’d like to welcome Mitch Doble and Matt Collier from DXT (Doble Express) as new investors to Passel. Both have extensive freight backgrounds and a terrific array of contacts that may help us grow.

I’d also like to welcome Martin Greig from Wicked Weasel as an investor. Martin has also started laying the groundwork with a number of his retail contacts.

We’ve raised $225k at the $2m valuation and with advisor equity and a few other things are roughly at 20% dilution.

It will soon be time to close the round. I’ll be keen to get advice or thoughts on what we should look for as a next valuation. We are going to wait for a couple of discussions around major partnerships before we seek funding, so stay tuned.

 

3000 Passers

That’s not a misprint. I’m really proud of our ability to acquire and onboard Passers, and then have them stick fast. Our social media team have to take some of that credit. Or maybe all of it.

Rebecca Campbell, take a bow.

Okay, my caprese salad is finished, time to go and board a flight.

Talk soon,

Marshall Hughes
One of the guys from Passel
marshall@passel.com.au
0419134461

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