Spacemen Float and LoanPro Secures the Funds

Money is flying out of the atmosphere

You’ve probably seen this video of billionaire Richard Branson taking the first space flight with his airline, Virgin Galactic. It probably got you thinking, “This guy is really going to charge people multiple hundreds of thousands of dollars to float in space for less than 15 minutes? And people are clamoring to do it?” No? Just me? This guy clearly knows what he’s doing. 

The reason I’m telling you about Richard Branson and his billions is that he STARTED SOMEWHERE, and that first startup was at the tender age of 16- a magazine called Student. Then at age 20 he started a mail order record company. Then he opened a record store chain, Virgin Records. Then he flew in space. Ok, there were a lot of things between that, but the point is that he started small, just like you. Get started now and maybe by the time you’re Mr. Branson’s age you’ll be building condos on the moon. 

Here’s what is happening in the hive:

• LoanPro Secures Series A

  LoanPro, the Famington, UT based SaaS company started by three brothers, announced that it has raised $100M from FTV Capital. The brothers started out as lenders, so they understood the pain points of the job. So let this inspire you- something bugs you, fix it well, help people, secure $100M funding. Done.

• Clientbook closes $4.5M in funding

  After a fantastic 2020, Lehi-based Clientbook announces the closure of $4.5M in strategic funding. Clientbook has a user-friendly app that helps people working in retail do their job better. Don’t you wish you had this in 2002 when you were working at the mall and hating it? Me too. 

• Complete guide to starting a business

  Biz Funding Hub reached out to me and shared this link to “A Complete Guide to Starting a Small Business”. The guide is super comprehensive, and definitely worth a look. Just another free resource to fuel your startup journey. Thanks Biz Funding Hub!

• Traeger going public!

Last week, Traeger announced its intention to go public in an IPO and also have plans to raise $100M in the meantime. According to Pitchbook, Traeger is estimated to have a valuation of more than $3 billion. Ring that bell Mr. Andrus, we’re ready!

• Food Truckin all the live-long day

  Who doesn’t love food trucks, BOGO, and helping charities in the process? No one, that’s who. Food Truck League is helping feed your face and also those in need by selling passports with BOGO options, get yours here. It’s sponsored by Discover and all proceeds go to help 4th Street Clinic, Utah Community Action, Volunteers of America - Utah, and YWCA Utah. Delicious food for a cause- get after it!

That’s all for this week. You can still go to SlopesCup and meet all the right people! More info here. Also, set your calendars for Silicon Slopes Summit, October 13-14 in the heart of Salt Lake City. Early bird pricing is available now, so hop to it. 

We’re happier than the number-crunchers doing calculations for spaceflight to report on startup news in Utah. Share your good news with us! emily@beehivestartups.com or hello@beehivestartups.com.