Kidizen Picks Up More Investment, Adds Matchstick To The Roster

Minneapolis startup Kidizen has closed on a $300k round of convertible debt, per SEC disclosure.

Kidizen’s mobile, peer-to-peer marketplace allows parents to buy and sell their children’s clothing, toys, shoes and other easily shippable items.

“It was a quick oversubscribed round,” CEO Dug Nichols says. “Open to close in three weeks.”

New backer Matchstick Ventures participated in the round, in addition to previous investors that include Sofia Fund & Gopher Angels. Kidizen has consistently been raising over the years and now has an estimated capitalization of $1.2m, with a recent move out of Startup Venture Loft and into CoCo’s new Northeast space to accomodate growth.

“We crossed 100k registered users, are growing 100% quarterly, and have grown 10x YoY! We also grew the team from 5 to 9 FTE earlier this summer, launched on Android in July, and are seeing cashflow positive in the next 6 months. Good stuff.”

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Comments

  • Justin Kaufenberg

    Not sure everybody appreciates just how impressive this all is. We see the occasional consumer tech explosive story in the national tech news, but that overshadows just how ungodly hard it is to build a revenue generating, profitable, growing consumer business. To become the signal in a lot of noise, especially when data is showing 2/3 of mobile users download exactly zero new apps per month, is really very impressive. Keep it up over there guys.

  • Daren Cotter

    Congrats to the Kidizen team! I agree with Justin’s comment…marketplace businesses are extremely challenging. The traction you’ve generated is both impressive and fun to be part of. Keep rockin’ it!

  • http://paulprins.net Paul Prins

    This is really fantastic. Excited to see them go cashflow positive in the next FY. Awesome concept, and great team of people.

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