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#121 — The Next Era for Logistics — Kevin Gibbon
Magic Minds
The Transition From Ship to Airhouse
At the height, ship was in five cities. We raised 63 million dollars in venture capital. After we went down to one market in s f, we' proved profitability - which was a big thing. Even though we were able to buy like shipping, ih 50 cents on the dollar for us, we'd a lot of extra cost we had and that's why it was really hard operationally to make profitable. And then so we did, i think, two rounds of lay offs, and then up inti the bit or, and i was trying to make it work.
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