For Black entrepreneurs Dave Salvant and Songe LaRon what started out as an app idea to help individuals who struggled to find a good barbershop has transformed into a platform that is changing the landscape of the barber experience. According to Tech Crunch, they raised $8 million for their app SQUIRE during their first round of venture capital financing.
Salvant and LaRon are seasoned entrepreneurs who through their own experiences discovered that the process of finding a good barber can often be inefficient. The two decided to team up and develop a solution. The app—which was founded in 2015—connects barbers and customers. Through SQUIRE, individuals can find barbershops in their area, read customer reviews, and book appointments. Customers also have the opportunity to pay for their haircuts through the app. SQUIRE goes beyond booking haircut appointments, it provides barbers throughout the country with the platform to sell products and promote their brand.
There is a wide range of shops that are included in the app’s directory, including large high-end shops and small locally owned businesses. The app was launched in New York and expanded to cities like Atlanta, San Francisco and Los Angeles. It now features barbershops in 28 cities. Since its inception, there have been $100 million in transactions processed through the app. The fundraising round was led by Trinity Ventures.
“Millions of men need haircuts daily and are looking to find the right barbershop, but the process is usually unnecessarily hard and time consuming,” said Salvant in an interview with Forbes. “SQUIRE lets you locate a barber, schedule your appointment and pay from anywhere you are, now making the process quick and convenient.” The entrepreneurs plan on putting the money raised towards marketing and hiring engineers to work on the app’s infrastructure. “In talking to customers, we realized there was a lot of opportunity to build value in a backend management system,” LaRon said in a statement, according to TechCrunch.
Both LaRon and Salvant are carving out a space in an industry that is worth billions. According to Statista, the barber industry is expected to be valued at $26 billion by next year.
Twitter Crowns Kamala Harris Winner Of The Second Democratic Debate
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Everyone: 🗣 FIGHT, FIGHT, FIGHT— Jezebel (@Jezebel) June 28, 2019
Kamala Harris: pic.twitter.com/g5PXVKb77A
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Savannah Guthrie: Do Dems have to explain how they'll pay for free college, health care?— NBC News (@NBCNews) June 28, 2019
Kamala Harris: "Where was that question when the Republicans and Donald Trump passed a tax bill that benefits the top 1% and the biggest corporations in this country?" #DemDebate pic.twitter.com/o4hnWqo9Vg
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Q: Who would abolish private healthcare in favor of government run healthcare?— Barry Cunningham (@barrycunningham) June 28, 2019
Only Bernie Sanders and Kamala Harris raise their hand.
Other candidates when Harris and Sanders look around...#DemocraticDebate #DemDebates pic.twitter.com/6BUAEvvmYi
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When Kamala Harris shut down the crosstalking with: “America does not want to witness a food fight, they want to know how we’re going to put food on their table.” pic.twitter.com/m2hXQlTEFf— Jennifer X. Williams (@JenXperience) June 28, 2019
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My ears are still ringing from Kamala Harris “America doesn’t want to witness a food fight; they want to know how do we put food on the table” sit down people pic.twitter.com/jvUkBgFo70— Eric K. Ham (@EKH2016) June 28, 2019
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"Hey guys, America doesnt want to witness a food fight, they want to know how they are going to put food on the table."— Jean Dunn 🐈 (@jeandunn52) June 28, 2019
Kamala Harris for the win!!#DemDebate#DemocraticDebate pic.twitter.com/WtWoYvhH11
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Black Entrepreneurs Raise $8 Million For Barbershop-Focused App was originally published on newsone.com