How has Duffl grown in terms of market validation, campus partnerships, and transaction volume?

One of the best lessons Y Combinator taught me is the importance of product market fit and finding that before scaling the team or the business. We were and are really data driven, really customer centric. One of the core metrics we looked at from the very beginning was retention rate and order frequency. Our cohort retention rate was 52-53%.

After six months, our dollar retention was $110 to $125, depending on the month. We had net positive churn—people were just staying on the service, ordering more and more. 

We iterated from different models to get to these numbers. We started with kind of an all-purpose delivery service, sort of like Postmates but more concierge, and then we delivered something that was in my mini fridge—a Yerba Mate—in four minutes to a dorm. The guy just lost his mind, and we were like, "Okay, this is the light bulb moment." That was in 2019. Obviously, we know what happened in 2020 with all these quick commerce players.