⚠️ January 2024 Update
We closed one business
January was one of the most terrible months since I was in business personally.
We decided to close a business doing close to $3MM revenue a year when AMEX cut down our line; we could not pay vendors in time once they cut us off and didn’t agree to a restructuring plan; no more product was being shipped to customers, and we had to close.
2024 is the year of strengthening balance sheets. Our other businesses are doing well but are still fragile with too much debt for my taste. I also learned that middle market banks are done lending to e-commerce companies, and the cost of debt is now 18%+, which doesn’t make e-commerce a sustainable business model.
We are cleaning up the aggregator acquisition of November and focusing on internal team building for the next 60 days.
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Founder & CEO of Inversal