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Why move a 2-pound burrito in a 2-ton car? Meet Serve, the future of sustainable, self-driving delivery.
this robot food delivery company generated a little over 200k last year. with that little revenue the power of this guy and this guy. They were able to go public today. here the ticker SRV. How the heck did they do that? Lee, tour are, the epic leaders of serve robotics. If you're around LA, probably seen these robots delivering food or messed around with downtown. Serve robotics is a sidewalk robot delivery company. In other words, imagine if your door dash is delivered by a robot versus a human. They've got an interesting story. There's a company called Posmates. It's acquired by company called Uber for a nasty $2.65 billion. Uber then decides to spin out the robotic division called Postmates X, is an independent company called server robotics. These guys come along and invest a nasty 10 mil along with another follow-on round by Uber. We were able to go public in a very unique way through what is called a reverse merger. Just at a high level reverse merger basically where a private company buys a public company by purchasing control. which basically bypasses the standard IPO route. Probably thinking the 200k revenue is pretty small, they have big revenue aspirations. ing by 2025 will be generating 60 to 80 million in annual revenue with contribution margins at 50%. Along with their partnerships with Uber Eats, in order to deploy 2,000 of these robots across multiple cities. These two guys are definitely looking to scale up. I've met, Chat with Ali, both amazing folks, extremely smart. I have no doubt they're on the path to success. All my founders out there, use this as inspiration, let's get back to work.
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