Squire Technologies Co-Founder Dave Salvant: ‘It Was Risky…But No Risk, No Reward’

EXCERPT:

SALVANT: “We had an idea for the software system for barbershops. And then we started asking barbershop owners, what would it take them to use this product. And they said, we’re not going to use it. At that point, we said, hey, we need to control our destiny. So we decided to spend $25,000 on a barbershop. The neighborhood barbershop was called Decatur & Sons. It was in Chelsea Market, right below Google and Facebook. One day, I’m in the barbershop, working the front desk, and I see an email with an @fb.com. And I said hey, this guy works for Facebook, I’m asking some questions. He ended up investing $150,000 in Squire. That enabled us to get more runway and we got into why I come here. We met with about 40 or 50 investors, and we got one term sheet.”