Point Pickup Technologies provides its customers with a range of delivery services. The American startup has made recent business news with its unique delivery platform that offers delivery services to businesses and with options for pre-scheduling pickups or placing on-demand delivery requests. It encompasses the middle and last-mile services for a range of companies. If you're not yet familiar with this dynamic new delivery platform, here are 20 things you probably didn't know about Point Pickup to bring you up to speed.
1. Point Pickup is still a young company
According to Crunchbase, Point Pickup is still a relatively new startup. It was founded in 2015 and has only been in operation for six years. It's made it through the make or break phase and instead of failing as most new businesses do, it has picked up speed, grown, and expanded. The legal name is Point Pickup Technologies, but it is more commonly known by the acronym PPUP.
2. Point Pickup is a versatile business
Point Pickup offers a range of delivery services. It offers convenience with a mobile app for its delivery platform that puts it under the industry classification of Mobile Apps. It is also considered a Delivery Service that caters to e-commerce businesses, lodging it under three industry headings. It offers a multi-modal platform that provides all-in-one options for same-day delivery or more standardized solutions including recurring deliveries or pre-scheduled.
3. Point Pickup specializes in retail and grocery delivery
Point Pickup Technologies specializes in big box retail deliveries and grocery deliveries. Although these are the two largest markets it serves, the company also delivers goods for manufacturing companies, pharmaceuticals, liquor, and specialty and industrial businesses. It maintains a focus on underserved secondary markets but also services all of the major markets in the United States.
4. The CEO for Point Pickup is also the founder
The founder of Point Pickup is Tom Fiorita. he also serves as the chief executive officer of the company. Mr. Fiorita previously served as the president of Fund Advantage Services LLC. He was also the chief operating officer and president at Sursum Capital Management LLC. Before launching his successful career in executive leadership, he attended college at the Southern New Hampshire University where he earned his bachelor's degree in business management and marketing. He brings years of knowledge and experience to the job.
5. Point Pickup has a strong executive leadership and management team
Point Pickup has achieved success in the delivery industry, in part, by its strong and diverse team of executives and managers. Tom Fiorita serves as the founder and chief executive officer. Kevin Keaveney is the senior vice president and head of operations. Peter Cyr is the vice president of global strategic partnerships and technology. He is also the vice president of sales. Adam Angerami is the director of business performance. Billy Macaluso is the senior director of operations. Chase Koorbusch is the director of sales and technology. Peter Morano is the director of data analytics. Preeti Kashyap is the director of product management and development.
6. Point Pickup has a small but effective IT system
The IT system that is used to power the Point Pickup website is complex but at the same time, the company has kept the number of technologies used to power its website fairly low. Some companies use dozens of technology products and services, but Point Pickup gets by with just 13. Some of these technology products and services include Apache, WordPress, Google Font API, and several others.
7. Interest in Point Pickup is growing
The analytics maintained for the Point Pickup website show that the interest in the services that the company offers is growing The monthly visits growth rate over the past 30 days has increased by 31.81 percent. The total number of visits to the website within the past 30 days was 627,725, which is a significant volume of web traffic. This has resulted in Point Pickup achieving a ranking of number 67,733 of the millions of websites registered on the world wide web. The website is the most popular in the United States where 100 percent of the web traffic originates from.
8. Point Pickup is an early-stage venture capital-funded business
Point Pickup has participated in one round of venture capital funding. The round of Series A funding was completed on October 8, 2020. It brought in a total of $30 million in funding to help the company grow and expand its operations. Point Pickup has 2 lead investors, one of which is a lead investor. BHH Capital Partners is the lead investor, joined by Connecticut Innovations. It's safe to assume by the large amount that the two investors have committed to Point Pickup that their confidence in the enterprise's potential to succeed is high.
9. Point Pickup has made one acquisition
Point Pickup recently announced the acquisition of a company called GrocerKey on August 26, 2021. GrocerKey provides its customers with an e-commerce platform for groceries to help retailers better develop their companies. The company is located in Madison, Wisconsin. The total funding amount of the company was $7.1 million before the acquisition. Point Pickup paid $42 million in the acquisition. The acquisition has been completed and GrocerKey will continue to function independently as usual but now as a subsidiary of its parent company.
10. Point Pickup is a privately held enterprise
Point Pickup is a privately owned company with one founder and owner. Although the precise details of its agreement with venture capital investors have not been disclosed, it is presumed that Point Pickup has granted shares of interest in its future profits to both investors, offering stakes in the company and its future revenues in return for the funds rendered. Our research has not discovered any indication that the business has plans to move into the publicly traded sector, nor has it filed for an IPO. For now, you won't find Point Pickup shares of stock offered on any of the public stock exchanges.
11. Point Pickup Technologies recently added a new service
According to Techcrunch, before August 26, 2021, Point Pickup was limited in the types of delivery services that it offered. With the increase in grocery deliveries due to the Coronavirus pandemic it was missing out on a huge market. I acquired GroceryKey to add this service for same-day grocery delivery within a few days of this writing. This was the one market that it was missing out on until recently. Now, Point Pickup Technologies has added a new service that has the potential to bring n billions in revenue.
12. Point Pickup is on a mission
One of the goals of Point Pickup is to compete with the retail giant Amazon. By providing delivery services, it is opening up a new resource for businesses that are currently using Amazon fulfillment to auto-ship their products to customers. The two biggest competitors for Point Pickup are Amazon and Instacart. The founder of the company established Point Pickup as a reaction to Amazon's control over the market shares of order fulfillment. His goal is to help small to medium-sized businesses to compete by offering affordable delivery services.
13. Point Pickup has a massive network
We also learned that Point Pickup has done an exceptional job of expanding its operations throughout the United States. The company has established a presence in all of the fifty states in the nation. It employs a massive network that includes 350,000 gig economy drivers. These drivers are distributed throughout 25,000 zip codes within the nation. They deliver everything from small to large packages with the most recent addition, their grocery delivery services.
14. Point Pickup drivers are multitaskers
The workforce of drivers that work for Point Pickup wears many hats. In addition to picking up the orders from the providers, and delivering them, they also may be called upon to pick the products and to pack them for the customers as well as delivering them. They also use their vehicles to transport the goods. They operate with a fleet of privately owned vehicles versus commercial rigs provided by the company. It's a different kind of platform but it's been working well for the company.
15. Point Pickup is researching new delivery methods
Another fascinating fact that we learned about Point Pickup is that it is looking into alternative delivery methods. The CEO and founder of the company shared that the company is currently looking into the possibility of using autonomous robots and drones for delivery. Although this is a futuristic concept, one day it will likely be feasible. Point Pickup wants to be an enterprise that gets in on the ground floor of alternative delivery methods. They're already providing incentives for their gig drivers to use electric vehicles or other types of delivery vessels that are more ecologically friendly.
16. Point Pickup has a small administrative staff
According to LinkedIn, Point Pickup runs its administrative operations across fifty states with a small staff. There are just 254 staff members employed at the company. This number does not take into account all of the hundreds of thousands of gig drivers who work out in the field. This is just the administrative base that helps to keep the company running smoothly Gig workers use their vehicles. They undergo a training program and then perform multiple tasks within the pickup and delivery process. They're not a part of the administrative process.
17. Hiring is at a standstill at Point Pickup
Point Pickup has received an infusion of funding for $30 million from its investors. We were curious to know if they would use any of the funds for the expansion of its workforce. We learned that as of right now, there are no job openings at Point Pickup on LinkedIn. They're not advertising any positions for the administrative side of business, nor gig drivers on the LinkedIn site, but they do have an application process for drivers on their official website.
18. Point Pickup offers multiple benefits for its customers
According to the Point Pickup website, advertises a list of enticing benefits for new customers who sign up for their services. They promise to lower current delivery costs by assuming all delivery duties with same-day delivery as well as other services. They provide a network that features every type of vehicle and driver from small couriers to large trucks. They deliver to all locations in the United States including suburban, rural, and urban. They provide services for all industries and markets on a national level.
19. Point Pickup uses a smart delivery platform
Point Pickup manages to deliver orders the same day with a smart technology platform that they call their precision matching system. It matches each customer's delivery criteria including the weight and size of the product with the right vehicle. It also matches the product with the best type of driver, along with the best routes to take and the types of vehicles required. this makes everything compatible with precision and scale to avoid delays because an item won't fit or the driver is not able to secure the package and prepare it for delivery. The PMS is cloud-based that includes a three-tier architecture. It uses an SQL-based database for the capture of all delivery data and manages the information. It uses a sophisticated proprietary middle war for analyzing delivery matching criteria to find the best delivery route. It also includes an API for customizing delivery and integrating with e-commerce systems.
20. Point Pickup is a company to keep your eye on
Point Pickup is an up-and-coming startup that is just beginning to cover all aspects of delivery. It has the potential to grow and expand its services even beyond the United States. It's the solution for businesses that are tired of using Instacart and Amazon as it provides them with a more cost-effective alternative.
Written by Allen Lee
Read more posts by Allen Lee