In 2000, approximately $25 billion was spent on pet products. In just under 15 years, this market has doubled, reaching $58 billion earlier this year.
With a $2.5 million round from Origin Ventures last year and 20 employees in the West Loop today, Doggyloot - a Chicago-based startup founded in 2011 that serves as a highly curated daily deals site for dogs - has capitalized on this trend. From treats to toys, Doggyloot handpicks pooch products, using a combination of user feedback and in-house testing to assemble the ideal list of items.
But in order to scale as rapidly as the market, Doggyloot's co-founders recognized that they needed to bring on a seasoned CEO.
"We reached a certain size where we realized that we needed someone with a wealth of knowledge and experience in the e-commerce space in order to take this to the next level," said co-founder and COO Ryan Schoop.
In late 2012, the startup hired Jeff Eckerling, the founder and former CEO of BonVoyou, a luxury travel site that was acquired by HauteLook in 2010. Prior to that startup, Eckerling served as a Senior Director of Hotel Strategy at Orbitz.
"My founders and I had been at this for a year and a half full time; we were growing and the model was successful. But we kind of always knew that we had to bring someone on to scale," explained Schoop. "It just had to be the right person and Jeff was the perfect fit."
Doggyloot is also the product of Sandbox Industries' Startup Foundry, Sandbox's shared-space and fund for incubating its own startups. Though the the Foundry isn't as active as it was three years ago, Doggyloot still operates out of its Chicago office. Eckerling had been familiar with Sandbox while he was building BonVoyou, admiring the business' passion and success for helping grow early-stage startups from afar. They connected shortly after Eckerling discovered them.
"We actually started talking to Jeff right after he rescued a dog, so it was a match made in heaven," explained Schoop.
With Doggyloot's trajectory matching its market, the conversation quickly and inevitably shifts into the other major category.
"Yes, we're intrigued by Cat Loot. It's something that may make sense," said Schoop.
(Image via doggyloot.com).
