He Raised $56 Million For His Furniture Company And Is Now Building An End-to-End Service To Offer Businesses Circular Packaging Solutions

In the fast-paced world of entrepreneurship, few journeys are as inspiring as that of Christian Talmage, the founder of Oliver Space and Chief Product Officer of Dispatch Goods. From the rural woods of Maine to his rapid ascent in the startup ecosystem, Christian’s story is about the power of intuition and resilience.

In this exclusive interview, Christian talks about following instincts and dealing with unexpected events. And how to leverage your drive and vision to align impact with business values–both incredible in today’s world.

Listen to the full podcast episode and review the transcript here.

Growing Up in the Woods of Maine

Christian Talmage was born on Long Island but quickly moved to the serene and somewhat isolated surroundings of Maine. Living close to the Sugarloaf Mountain ski resort, his early years were defined by the rustic beauty of the area and the tight-knit community.

Although the school environment may not have been the most challenging, the natural surroundings and the friendships he forged were invaluable. Here, Christian developed his love for ski racing—a passion that would later inform his entrepreneurial mindset.

The competitiveness, the adrenaline rush, and the risk-taking inherent in skiing paralleled the challenges he would face in the business world. Christian learned about putting himself in difficult situations with a high potential for things going wrong and trusting his abilities to deal with them.

“There’s a strong corollary between the risk-taking appetite of skiing and willingness to start companies,” Christian reflects. “You never know what the future holds, and you’re taking an immense risk under the premise that you’ll figure it out.”

The Unexpected Path to Architecture

With a natural affinity for math and science and a deep interest in art and design, Christian initially envisioned a career in engineering or architecture. This path seemed a perfect blend of his passions, offering a way to merge technical skill with creative expression.

Christian pursued an education in physics, engineering, and studio art, all while nurturing a dream of becoming an architect. At the time, it seemed like the only viable career path. Further, the schools that had ski programs didn’t have architecture programs.

However, life had different plans. Early in his career, while rapidly advancing in the architecture field, Christian began to feel that the reality of the profession didn’t match his expectations. His initial plan was to acquire some capable degrees and skill sets before going back to engineering.

Despite his quick rise, hands-on experience with large-scale commercial projects, and a keen interest in spatial design and structural systems, Christian was looking for something more.

A Podcast That Changed Everything

During his time in architecture, Christian found solace and inspiration in podcasts—specifically, the “Entrepreneurial Thought Leaders” podcast from Stanford.

Listening to stories of successful entrepreneurs like Drew Houston from Dropbox and Ben Horowitz from Andreessen Horowitz, Christian realized his true passion lay in technical problem-solving and building companies, not buildings.

This revelation led him to pivot from architecture to entrepreneurship. He applied to Stanford, where he immersed himself in human-centered design and product design, all while taking business classes that fueled his entrepreneurial fire.

“It completely changed the course of my career,” he recalls.” Christian also reveals how he made decisions along the way guided by intuition, passion, and a focus on the areas where he found the most energy.

“You’ve got to really stick to your guns, know your customer inside and out,” he advises. This strategy has served Christian well over the years.

It has been a great way to ensure he remains engaged with whatever he’s working on at the time. His focus and obsession at a much higher degree help boost his rate of learning.

From VR to Oliver Space

Stanford was the launchpad Christian needed. After graduation, he jumped into the startup world, gaining firsthand experience with the highs and lows of building a business. His foray into the virtual reality (VR) space eventually led him to co-found Oliver Space.

Christian recalls connecting with River Studios on the investment side and Boom, which became his segue into building the company. Oliver Space is a company born from his experiences with frequent moves and the challenges of furnishing a home.

When Christian and his co-founder, Chan Park, started Oliver Space, there were already a couple of competitive products on the market, mainly in the category of rental furniture at the time.

The sector was quickly gaining traction and the duo had seen folks like Rent-A-Center in the past have very high success with rental models.

The Oliver Space concept aimed to modernize the traditional and often predatory furniture rental model by offering a more contemporary and customer-friendly approach. Christian and Chan saw that the model of buying furniture and keeping it for ten years didn’t quite make sense.

They were confident they were solving a problem with a visceral need. They had a couple of existing templates to work off of, but the challenge was building something 5, 10, or 15x better than what’s already out there.

Christian and Chan focused on holistic design combined with an easy, incredibly convenient user experience. Although the idea was capital intensive, the margins in furniture were really high. The company quickly gained traction, reaching $18M in ARR within just four years.

Christian and Chan’s strategy was to eliminate large promotional sales and instead roll the extra money directly into the quality of their home delivery and returns experience.

With a heavy emphasis on custom, behind-the-scenes technology, their team was able to create significant leverage and lower their operational expenses for what might otherwise have been a very expensive set of activities.

But the path was far from smooth. Fundraising cycles were challenging, and Christian learned the hard way the importance of sticking to one’s vision despite external pressures, particularly from investors. Even so, he and his co-founder successfully raised $56M for the company.

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Facing Unforeseen Challenges

Just as Oliver Space was hitting its stride, the COVID-19 pandemic struck, throwing the business into turmoil. What began as a promising Series A fundraising round quickly unraveled as the world reached a standstill.

Oliver Space had a super-talented team, great metrics, and great customer reviews. Regardless, pitch meetings were canceled, supply chains were disrupted, and the company’s future seemed uncertain.

“It was humbling, to say the least,” Christian admits. “You need to fight every single day and constantly reinvent yourself.” Yet, in true entrepreneurial spirit, he and his team persevered. They adapted their operations and marketing strategies and reinvented the company.

Christian and Chan took massive pay cuts and were able to retain their entire team. They also continued building product and worked on new strategies to keep their operations and marketing team functional.

For a time, Christian and Chan paused their operations but eventually realized that the pandemic presented a unique opportunity. They heard Wayfair and other large furniture retailers reporting massive furniture sales.

As people spent more time at home, the demand for furniture soared, leading to a successful rebound for Oliver Space. It was a huge tailwind for the company.

The End of One Chapter and the Start of Another

Christian and his team noted the rapidly changing market dynamics despite the company’s recovery and subsequent acceleration. There were relatively few buyers for a highly capitalized startup in the retail furniture space.

Furthermore, most potential acquirers already had large distribution centers, thoughtfully designed furnishings, and boasted greater brand recognition.

What large incumbents did not have was a software suite that allowed customers to buy and return furniture goods with free delivery and assembly, all at no additional cost from the comfort of their homes.

To lean into this advantage, the company began shifting focus towards a B2B model, where Oliver Space could provide the backend infrastructure for many of the potential acquirers in question.

As this signaled a material shift in their business model, it began to raise eyebrows with the company’s venture debt provider.

Like most retail-oriented startups, Oliver Space has taken on a large sum of venture debt to finance the purchase of its inventory over the years.

As the tech sector market crash and bank collapses of late 2022 / early 2023 hit lenders hard, debt providers like those Oliver Space was working with began looking for every opportunity to get their cash back.

The model transition Oliver Space was making was just the trigger they needed, and soon, the company’s debt providers were asking for loan repayment in full.

Despite a compelling product experience and excellent metrics, Oliver Space was forced to default and had to close its doors. It was a difficult decision, and Christian describes the day they decided to pull the plug as “incredibly disappointing.” However, as one chapter closed, another opened.

The Next Frontier: Dispatch Goods

Christian’s journey didn’t end with Oliver Space. After taking some time to focus on climate issues—an area close to his and his wife’s hearts—he joined Dispatch Goods, a company founded on the principle that reducing waste in the supply chain is good for business.

Before Christian joined the team, Dispatch Goods had successfully raised $8M. While the details of the company’s latest round will be shared publicly soon, Christian’s excitement for the impact-driven business is palpable.

At Dispatch Goods, Christian continues to follow his instincts, aligning his passion for making a difference with creating business value. “Where’s the energy and passion?” he asks.

For Christian, it’s clear that the answer lies in building companies that not only succeed but also make the world a better place. As he points out, few impact-driven companies have economics that pencils out.

They have major scalability concerns and early research-oriented ideas that haven’t yet been proven in the market. Alternatively, many other business models are only superficially climate-related and hardly impactful. There’s a lot of greenwashing out there.

Christian explains that Dispatch is taking a circular approach in the same way they had applied circularity to Oliver. It was a mechanism for improving margins and better utilizing inventory and products already manufactured.

Dispatch is doing a similar exercise with an industrial focus. They focus on secondary packaging, particularly in the world of the cold chain, where the products are very expensive line items for any perishable goods, D2C (Direct-to-Consumer) brands like meal, grocery, and home health products such as Ozempic and Wegovy.

Challenges of Reusing Expensive Packaging Materials

These products have temperature sensitivity and need to be filled with gel packs and insulation to keep them at safe temperatures so they can be delivered to the customer’s doorstep.

The packaging has been optimized for single use, and the boxes, packaging, and all the extra material are trashed after every delivery.

Not only is the packaging an expensive line item, but it also accounts for 10% of the company’s revenue. Christian sees it as a terrible customer experience and frequently connects with the end users of their enterprise customers.

The single most common factor that stands out, more than the sustainability benefit of reusing packaging, is the convenience of returning it. Users don’t want to think about what to do with the goopy chemical gel packs they aren’t comfortable taking apart and throwing away.

Users deal with the waste and guilt components of just using the product and throwing it all away since it’s a lot of material. Most people just don’t even like breaking down boxes. They run out of space in their managed buildings or apartments and recycling bins.

Being able to return all this stuff in a turnkey way, knowing that it’s going to good use and will get used again, is very gratifying for people.

Christian basically hit on three major bullets here–substantial cost savings for enterprise customers, a better customer experience that their consumers love, and, on top of everything, the added green benefit.

By virtue of the business model, the dispatch system will reuse these products 5 to 15 times. Often even more. This process is inherently more sustainable than buying the stuff overseas, putting it on a ship, freighting it from China, and then throwing it away at the end of its cycle.

As Christian explains, it felt like a rare breed of business that actually has compelling economics, high potential for scale, and an exciting climate impact along the way.

Advice for Aspiring Entrepreneurs

Christian advises entrepreneurs to prepare for the challenges that come with building businesses. When hurdles arise, they cannot quit and start looking for other jobs. The company will become a huge part of their lives, requiring complete dedication.

Christian also stresses the importance of culture and bringing on the right early hires and talent. Culture gets redefined with every new employee, and whether it’s explicit or not, your culture is being defined every day.

Knowing who are the people you really love working with, the people you can throw a million problems at the wall and spend late nights and weekends, just grinding through really difficult scenarios, is crucial.

Entrepreneurs should bring in people they can trust when founding companies because they will help achieve success. This attitude can be a complete game-changer.

Conclusion

Christian Talmage’s story is a compelling narrative of resilience, adaptability, and the power of following one’s instincts.

From the snowy slopes of Maine to the forefront of sustainable business, his journey inspires entrepreneurs everywhere—reminding us that success is not just about the destination but the lessons learned along the way.

Listen to the full podcast episode to know more, including:

• Trusting your instincts and following your passions can lead to unexpected yet rewarding career paths.
• Entrepreneurship requires embracing uncertainty and taking calculated risks, much like the adrenaline rush of competitive sports.
• Listening to inspiring voices and learning from industry leaders can ignite entrepreneurial ambitions and reshape career goals.
• Resilience and adaptability are crucial in navigating challenges like the COVID-19 pandemic, which can create obstacles and opportunities.
• Building and scaling a business involves constant learning, perseverance, and the ability to pivot when faced with market shifts.
• Fundraising is a challenging process that requires a strong vision, persistence, and staying focused amidst rejection.
• Aligning impact with business value, especially in sectors like climate, can drive meaningful change while building successful ventures.

 

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For a winning deck, see the commentary on a pitch deck from an Uber competitor that has raised over $400M (see it here). 

Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below.