What is Hollar? Hollar Review

Founding Background

The founder, David Yeom, grew up in the East Side of Los Angeles. In the 1990s, he often went shopping with his mother in cheap discount stores. When he grew up, he missed the feeling of finding his favorite items among thousands of commodities, so he decided to start a dollar store online.

User Groups

80% of Hollar's customers are mobile users, half from the app and half from the mobile website, and 80% of orders come from outside California and New York.

Hollar's typical customers are women, especially those between the ages of 25 and 34 who have children.

Development History

In early 2015, Yeom found Lee and three other co-founders and launched the Hollar app in November. In order to make a profit, the company set a minimum order amount of $10 to prevent losses due to small orders. Orders over $25 can be free of shipping. Six months after its establishment, Hollar's monthly sales reached $1 million.

In April 2016, five months after its launch, monthly sales exceeded US$1 million for the first time, and the average purchase amount placed by users reached US$30.

Financing

Since its founding, Hollar has raised a total of $17.5 million in two rounds of venture capital.

In November 2015, Hollar announced the completion of a $30 million Series B financing round, led by Kleiner Perkins Caufield & Byers (hereinafter referred to as KPCB), a well-known Silicon Valley venture capital firm and an early investor in e-commerce giant Amazon. Participants included Comcast Ventures, Greycroft Partners, and existing investors Lightspeed Venture Partners, Index Ventures, Forerunner Ventures and Pritzker Group. Renowned Chinese angel investor Chen Lin also participated in this round of financing.

It received a seed round in mid-2016, a $12 million Series A round at the end of the year, and a Series B round in 2017, with a total financing amount of $47.55 million.

References

• 1. Hollar, the internet version of the "dollar store", raised $30 million in Series B funding, led by KPCB, an early investor in Amazon: Sohu [cited on 2016-11-03T16:00:00.000Z]
• 2. The entrepreneurial legend of the dollar store Hollar, which raised $47.5 million in one year: bukop [cited on 2017-06-22T16:00:00.000Z]
• 3. The entrepreneurial legend of Hollar, an American online dollar store, which raised $47.5 million in two years: Baijiahao [cited on 2018-09-05T16:00:00.000Z]
• 4. Good products at low prices: Hollar, an American online dollar store, is like this: Dreamweaver Collector [reference date 2017-06-09T16:00:00.000Z]