ENTREPRENEURS BEHIND FLOYD JOIN ENDEAVOR

Local furniture business is first e-commerce company to join Endeavor Detroit

Rio de Janeiro, Brazil – Endeavor Detroit is excited to announce the entrepreneurs behind Floyd (Kyle Hoff and Alex O’Dell) have been selected to join the Endeavor Network. The Detroit-based furniture company was selected at the 70^th Endeavor International Selection Panel (ISP) by a series of panelists, who were drawn from Endeavor’s extensive international network of business leaders and investors. Hoff and O’Dell were two of 12 high-impact entrepreneurs representing nine companies and seven countries who were selected at this ISP.

The ISP is the culmination of a rigorous and extensive multi-step interview and selection process. At the event, top international business leaders interview candidates about their businesses and high growth potential, then vote on whether or not candidates are selected as Endeavor Entrepreneurs.

Post-selection, Endeavor Detroit provides the entrepreneurs with a world-renowned suite of services and programs along with access to an exclusive mentorship network to accelerate the growth of their companies. Benefits of selection to Endeavor Detroit include introductions through a network of more than 3,000 local and international business mentors for strategic guidance in raising capital and entering new markets.

Floyd is the first e-commerce company to join Endeavor Detroit. Founded in Detroit in 2013, Floyd makes beautifully designed furniture for city living: simple to purchase, assemble, and move — and built to last. Starting with a bed frame and a table that ship right to your door, Floyd’s aim is to make furnishing an apartment an easy and enjoyable experience. Floyd sticks to its roots with products designed in Detroit and manufactured in the Great Lakes Region, and now ships its unique furniture to over 50 countries. Over the past 4 years, Floyd has built a strong brand based on sustainability, high-quality products and superior customer experience, leading to a loyal and impassioned customer base.

In Alex and Kyle, Panelists saw strong entrepreneurs who are transforming a stagnant industry to fit a growing market need. Floyd blends technology with the creation of beautifully-designed, American-made products to outfit the homes of city dwellers worldwide and lead the online furniture movement.

Hoff and O’Dell presented their company to a panel of esteemed business leaders including:

Brian Hutchings, Partner, Gunderson Dettmer LLP (United States)
Francisco Alvarez-Demalde, Founder and Managing Partner, Riverwood Capital (United States)
Arman Zand, Principal, Quona Capital (United States)
Salvador Said, Executive Director, Said Holding (Chile)
Luis Lora, Managing Director, Allen & Co. (United States)
Marco José, President, DIGIPIX (Brazil)

Now selected as Endeavor Entrepreneurs, Hoff and O’Dell will look to the mentors of the Endeavor Network to:

Expand their growth strategy – As their portfolio of products continues to grow, the Endeavor network can advise the entrepreneurs on their growth strategy and provide introductions to potential international partners.
Build a high-level team – The entrepreneurs will benefit from Endeavor’s network when searching for key hires. Endeavor programs like Harvard’s Scaling Entrepreneurial Ventures course will help Hoff and O’Dell think on a higher level about human resources strategy and scaling company culture along with growth.
Guide through fundraising – Hoff and O’Dell will utilize Endeavor’s network of investors and investment advisors to prepare and coach the growing company through the fundraising process.

“Alex and Kyle have achieved something that is difficult to do – they have made a bed frame cool. They have built mojo around their brand. What else can they do with a brand like that?” said Nate Lowery, board member of the Endeavor Detroit. “We are excited to have Alex and Kyle join Endeavor Detroit and look forward to supporting the growth of Floyd.”

“Going through the Endeavor selection process was tremendously helpful in preparing for our Series A and thinking about the growth of our company,” said Kyle Hoff, Co-Founder and CEO of Floyd. “From receiving unbiased feedback to networking, the ISP was a great experience for Alex and me. Meeting a handful of investors and other Endeavor companies that went through the process got us really excited about being part of the Endeavor Network and gave us a taste of what is to come by being part of the organization.”

About Endeavor

Established in 1997, Endeavor is leading the global high-impact entrepreneurship movement. Endeavor promotes economic growth and job creation by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. To date, Endeavor has screened more than 47,000 entrepreneurs and selected more than a thousand individuals leading over 700 high-impact companies.

With support from Endeavor’s worldwide mentor network, these high-impact entrepreneurs:

Have created over 587,000 jobs
Generated over $8.1 billion in revenues in 2015
Inspire future generations to innovate and take risks

Headquartered in New York City, Endeavor currently operates in 27 markets throughout Europe, Latin America, North America, Africa, Southeast Asia and the Middle East. The Endeavor Detroit affiliate was established in 2015 and works with Entrepreneurs and mentors throughout the State of Michigan. Endeavor Detroit currently works with 15 entrepreneurs leading 9 companies including Algal Scientific, Banza, Benzinga, DROUGHT, Floyd, McClure’s, Varsity News Network, and Vectorform.

About Floyd

Floyd is a Detroit-based furniture company built for the internet. Floyd designs pieces for the way people live today, through a thoughtful and simple online purchase experience, free shipping, tool-free assembly, and insistence on lasting quality. The company began in 2013 as a reaction to disposable furniture and is focused on sustainability, high-quality products and superior customer experience. Floyd products have shipped to over 50 countries.

—ENDEAVOR DETROIT—