Last Mile Holdings (MILE.V) suffered the misfortune of beginning life as a publicly traded company on March 9, 2020 – a day when the Great Stock Market Crash of 2020 began – the DJIA falling 2,013 points that day to 23,851.
On March 5, 2020, Last Mile announced the acquisition of Gotcha Mobility, focusing on university campuses in the U.S.
Gotcha has been a micro-mobility leader for 10 years, starting with electric rideshare vehicles and pedal bikes, then expanding into e-bikes, e-scooters, and e-trikes.
With a focus on university and small to midsize municipalities, Gotcha has secured permits to deploy approximately 20,000 vehicles, 80% of which are exclusive.
With 80 combined locations, MILE is the third largest micro-mobility company by location in North America, after Lime and Bird.
“Last Mile’s OJO chain is growing fast, and in a controlled, responsible, and municipally welcomed fashion,” stated Equity Guru’s Chris Parry on March 13, 2020, “It’s a half billion dollar company in the making, in a $9 million market cap package”.
In the pt.1 Last Mile Podcast, Equity Guru’s Guy Bennett talked to Last Mile CEO Max Smith about the importance of “exclusive contracts”, the company’s prestigious seed investors – and how innovative technologies create new revenue streams.
In this p.2 Last Mile Podcast, Mr. Bennett talks to Mr. Smith about insurance, app functionality, retail partnerships, manufacturing, expansion capital and 2020 milestones. “The Service today is to move people,” explains Smith, “The service tomorrow is a lot more.”
Full Disclosure: Last Mile is an Equity Guru marketing client