Boxed

“We did have a profitable month.”

“If we were to hit a four to five percent contribution margin, that was a big win. And that was pushed by every, every lever we could possibly pull from vendor marketing.”

“Pretty impressive how SVB has turned it around. I would bank with them again, timing, you know, a lot of things come down to timing. So it was definitely not SVB's fault, but we were caught up.”

“I feel like we marketed towards the customer we wanted to be a boxed Customer versus the customer who actually was that creates marketing and efficiency.”

“The beauty of that was we're now not in charge of the merchandising. Like, you know, these, you know what a Cheerio is, you know, if you want it, you know, a Ziploc bag. So we essentially just focused on the fulfillment, laugh-mouth delivery and the customer e…”

“Yeah, it was not the case.”

“When I, when we IPO'd, I was down as a startup or as a founder to single digit percents, low, low percent, single digit percentage”

“So we did go public via SPAC. So we were kind of in the public markets, maybe over our skis a little bit, not fully ready to be there, whether that's from a KPI standpoint, growth standpoint, or just fundamentals standpoint.”

“So BlackRock had put in a debt instrument into the IPO process. BlackRock believed in the team. They believe the technology, the relationships that we have built. So working with our number one customer, right? We had to make sure they were on board. That's Eo…”

“Don't try to compete with Walmart, Amazon, and Costco. That's, or if you're going to do that, you need to put Two billion dollars on the balance sheet and you need to make that like a 10 year journey.”

“We're not going to be able to out supply chain, out trucking, out logistics, out warehouse, you know, Walmart and Kroger and the major retailers in the U S especially with consumables, but we still feel like we can, you know, out technology them.”