to do so. By the end of the decade, the company expects to reach 20% profit margins and up to $10 billion in revenue.
The company’s two-year anniversary is approaching, and the revenue news comes only 11 months after it set a new record for thein GM history. However, BrightDrop will be joining the billion-dollar club in less than three years, showcasing the company’s strategy, vision, tech expertise, and commitment to the market. Some of the most well-known consumer and tech businesses took over five years to reach the $1 billion milestone.
“This shows how BrightDrop is delivering sustainable solutions at scale to customers today, and we couldn’t be happier to be part of FedEx’s sustainability journey,” said Travis Katz, president, and CEO of BrightDrop. “Our Zevo 600 has been avehicle from the start. From a record-setting time to market, to deliver one of the largest fleets of electric delivery vans on the road today, BrightDrop is showing the world what sustainable delivery looks like.
“COVID has driven a dramatic increase in online grocery shopping, and fulfilling these orders profitably has become a major challenge for retailers of all sizes. With Trace Grocery, we saw an opportunity to help companies like Kroger tackle these challenges head-on,” said BrightDrop President and CEO Travis Katz. “As online shopping continues to grow, BrightDrop is committed to developing innovative solutions to help our customers keep pace. The Trace Grocery is a perfect example of this.
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