Bootstrapping a Specific niche e-Commerce Business to $10 Million: iHeartRaves CEO Brian Lim (Part 4).

Bootstrapping a Niche e-Commerce Business to$10 Million: iHeartRaves CEO Brian Lim (Part 4) Published on Thursday, Aug 9th 2018

Sramana Mitra: What about team size? What type of team size are you doing all this with and how did that grow over time?Brian Lim: We’re at about 60

full-time folks.Sramana Mitra: You’re in Los Angeles right?Brian Lim: Yes, at Anaheim.Sramana Mitra: Allthese individuals remain in Anaheim or are they distributed?Brian Lim: Majority are

here at our business workplace.

We run at a 30,000 square feet office. We prefer to do whatever internal aside from

manufacturing.Sramana Mitra: Exactly what is the circulation of workers? What is the functional circulation of these people?Brian Lim: We have a large portion who remain in marketing– designers, videographers

. We have a large portion that’s order fulfillment. We have a client service group. We have a store that’s in West Covina,

California.Sramana Mitra: You said $ 3 million in 2011. You’re at about$20 million now?Brian Lim: In 2016, we struck$ 20 million. This year, we’re on track for$30 million.Sramana Mitra: Exactly what do you wish to do with the business? You desire to keep it personal and growing like this? You wish to

sell a part of it to private equity? How are you thinking of the business at this point?Brian Lim: I have actually been incredibly lucky and blessed to run and start business that focus on my individual enthusiasm. I like exactly what I do eachday. We’re growing the business to get the most market share as quickly as possible. We wish to control the whole EDM rave scene and the gaming and e-sports world. I see our business getting into the $100 million to$200 million range. At the

core of all of it, we want to call ourselves the Emazing group. We know ways to start and scale brands and just know the best ways to sell things online.Sramana Mitra: If you wish to go from where you are to$100 million, do you believe you can do that based upon this one item line? What is the item method that you think is getting you to a bigger company?Brian Lim: There are in fact 3 brands that is within the Emazing group today. EmazingLights is the LED glove that started everything. The two larger brands are the apparel brand names. One is called iHeartRaves. It includes all the festival wear that you see individuals using intoCoachella and EDC. The third is INTO THE AM brand name that focuses on the gaming and e-sports market.Sramana Mitra: Got it. Throughout those three, you believe you have enough there to grow to a hundred million.Brian Lim: Yes, due to the fact that the marketplaces are simply so big and

we’re truly barely permeating enough. At the very same time, we’re also looking at brands as well.Sramana Mitra: Congratulations. It’s fantastic to hear your story.Brian Lim: The most amazing thing would be our Shark Tank experience. We went on Shark Tank in 2015. We got an offer from all 5 sharks and chose to go with Mark and Damon versus Laurie and Robert. I had requested$650,000 for 5%. Laurie and Robert used$1 million for 5%. I still opted for Mark and Damon. That experience was wonderful around. We got advertised in all the major publications.Sramana Mitra: Terrific. Thank you for

your time.This segment is part 4 in the series: Bootstrapping a Niche e-Commerce Business to$10 Million: iHeartRaves CEO Brian Lim 1 3

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