Everything Am Karam Chandani said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Karamchandani: Competitors J.J. Keller and Foley Services run manual processes, not platforms
“They have a little bit of platform, but it's more manual. You know, they just manage the processes, but not the platform.”
Karamchandani: 70% of trucking companies fail due to compliance issues
“Seven out of 10 Trucking companies go out of business because of the compliance issues. Either they are not safe to operate, or they have any compliance issues.”
Karamchandani: Trucking companies are typically valued at 3x to 5x EBITDA
“So it's normally the EBITDA three to five times of EBITDA.”
Karamchandani: FleetDrive 360 adds 200 to 300 customers monthly
“So right now we have about 1400 and we actually launched this product last year in August. And since then we have been consistently getting about 200 to 300 customers every, every month.”
Karamchandani: FleetDrive 360 has approximately 700 paying customers
“So we have 670 or about 700 paying customers.”
Karamchandani: Commercial truck gross monthly revenue reached $30,000 during COVID
“You can make the gross revenue anywhere from 12,000 to 25,000. And when COVID hit, it was like even going up to 30,000 a month.”
Karamchandani: FleetDrive 360 charges $300 per driver per year
“About 300 per year or a month?
Per year.”
Karamchandani: FleetDrive 360 generates $500 to $600 per customer
“So average sales to customer today is about 500 to 600. And out of which, 300 is recurring, which will go towards a recurring, and the rest is one time.”
Karamchandani: FleetDrive 360 targets $3M in 2023 revenue
“20, 23. We are targeting actually three million with all these big customers like enterprise customers.”
Karamchandani: FleetDrive 360 finished 2022 at $700K-$800K revenue
“Twenty-twenty-two, we finished with about 700 to 800.”
FleetDrive 360 raised $250k debt alongside $250k equity at $6.5M valuation
“We did do the debt financing and you know, we raised 250 K debt and then also two 50 K initially, you know, at 6.5 million valuation.”
Karamchandani: Target US market has nearly 4 million commercial drivers
“There are almost four million drivers on the road. That, you know, this is a term that we are targeting.”