To that end, four years in, Goodlord says it has grown its customer base to over 400 agencies across the U.K., and also appears to be quietly disclosing additional funding from existing backers.
Earlier this month, it expanded into Technology for those seeking IT expertise, and has grown its customer base across all of the 8 verticals it now operates to 500 businesses who use the platform to procure services, made up of SMEs and a number of international, blue-chip companies, such as Berlitz, Harvey Nichols, Coral, Ministry of Sound, GE Healthcare and Tyco.
Considering that the typical tuxedo rental process involves going into the rental store three times — to get fitted, pick up your tux, and drop it off after the event — and sets you back a good $200 bucks, it's no surprise that The Black Tux has grown its customer base into the hundreds of thousands and repeatedly sold out of inventory since launching in June of 2013, according to Blackmon.
Considering that the typical tuxedo rental process involves going into the rental store three times — to get fitted, pick up your tux, and drop it off after the event — and sets you back a good $200 bucks, it's no surprise that The Black Tux has grown its customer base into the hundreds of thousands and repeatedly sold out of inventory since launching in June of 2013, according to Blackmon.
When we first covered the company's launch last November, it had a few hundred SMB customers, but has since grown its customer base to "several thousand," which now includes names like Whole Foods, Chelsea Piers, Buffalo Wild Wings and Sushi Samba.
As the industry has grown, its customer base has widened beyond the original core of very wealthy and (reputedly) loyal individuals.
Over the past 18 months, the company says it has grown its customer based to 10,000, which is up from 3,000+ in December 2011, but still the same number that was being publicly reported this April.
In 2018 it grew its customer base by 150% with members creating more than 1 million projects on the platform.
In 2012 alone, Demandbase says it grew its customer base by 70percentt, and more than doubled subscription revenue.
The question the company must answer is simple: Can it grow its customer base quickly enough, and protect its margins while doing so, by providing a social customer service option to large companies.
The two questions that Tastebud faces now is when it will seek additional capital, and how quickly it can grow its customer base.
