53. Vape Shoreditch
The monthly subscription service for own-brand vaping liquids with 6,500 active subscribers
Founders: Ryan Shaw, Paul Tarr and Andrew Kirby
Founded: August 2014
Frustrated at being unable to find quality vaping e-liquid, former interest rate options broker Ryan Shaw, consultancy entrepreneur Paul Tarr and graphic designer Andrew Kirby came together and decided to it was time to capitalise on the emerging market.
The trio decided to solve the distribution problem with the launch of what it claims to be the only flexible subscription service delivering own brand quality e-liquid to customers’ letterboxes every month.
Customers are able to adjust flavours, quantity, strengths of liquid, add additional hardware, change their delivery date and re-order at their leisure. Shoreditch also sells a variety of vape kits, batteries, tanks, chargers and coils from leading brands including Kangertech, Aspire, Innokin and Smok to name a few.
Already, the company has amassed more than 6,500 active subscribers and over 40 vape stores, helping it generate £1.4m in revenue for 2016 and project upwards of £2.7m for the coming year.
Now backed by £435,000, including a £235,000 seed round in January 2016, Shoreditch has some major plans in the pipeline for the coming year: as well as raising a seven figure Series A, the company is aiming to reach 15,000 active subscribers across the UK, Germany and France, launch 400 vape stores across five European countries and more than double the size of its team.
This is one business that is unlikely to disappear in a puff of smoke!