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Transcript: (00:08) hello everyone I’m Jay Pall and I’m the CEO of goodie bag now goodie bag is an Enterprise tool we’ve built for companies that makes it easier and more efficient to order food from restaurants for things like employee meetings lunches and so on now something that’s really important to remember about us is that we’re actually not a delivery service so we’re not one of your typical on demand food delivery startups with those negative gross margins a few of you seem to love so much no the economics of what we’re doing are (00:40) fantastic and we can scale very fast we already have over 300 Corporate customers who have purchased over half a million meals through us and that’s roughly $5.5 million in orders and to show you how our economics truly are different our average order size is 350 bucks that’s 10x the consumer space our average customer spends 24 Grand a year through us we have 93% retention annually and our CAC Payback right now is 4 months on top of this we’re growing consistently every month we’re now crossing a 5.5 million gmv run rate and (01:17) this is a million more than just one month prior now we take a 12% cut across all of this so that’s roughly 600,000 in revenues to us growing at the same Pace now this is across four markets primarily our first Market Austin which is already profitable but we’ve also pushed into three new markets already and we’ve been able to achieve the same growth trajectory across all of them in fact both Houston and Seattle will both be profitable in just three months so this is replicable and uh some of this might sound interesting but (01:50) what’s even better is how large we can make this so the entire takeout and delivery sector in the US is roughly 70 billion in growing what’s interesting about that though is that near really half is purchased and consumed inside companies today where there’s less than 1% total Market penetration and we’re the ones to win it the reason why is we are the only ones who have figured out how to scale this quickly and profitably we can go into a new market break even in six months and then a total investment of 100 Grand so all we have (02:22) to do is take what we’ve already proven in Austin We’re approving again in three other cities and roll this out to well over 100 applicable cities in the us alone just expanding out this model we’ll be Crossing 100 million gmv run rate in 2 and 1/2 years and a billion run rate in five and again we’re the only ones who figured out how to do this reliably now thank you if you do have any interest find me on the floor afterwards the company is goodie bag and again my name is Jay thanks a lot