Gimme More | Vending Machine Startup Gains Traction
“When looking at the vending machines owners, Coca Cola, Aramark, and Sodexo own about 10% of the vending machines in America. Everyone knows them; they’re huge. But, they’re not the majority,” he explains. “At the base of the pyramid, half of the entire vending machines out there are owned by individuals, like mom and pops, which is where I got started in high school. The remaining third is our target market/sweet spot. These are folks who own 500-10,000 vending machines. For these guys, one of the biggest concerns is not understanding what’s happening in general. Typically, they don’t know where their cash is or their product is. As it’s a cash business, there’s theft that occurs and there’s so much falling through the cracks because they can’t keep track of it all. Gimme allows the machines to talk to each other and talk to their owners so they can keep track of products and cash.”
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Gimme recently acquired an accelerated utility patent filed on its hardware and is also in some licensing talks as well, “which is a great validation that our hardware is a good product,” he says. “But, our software’s always getting better. We’re not just telling vending machine owners, ‘Oh, we can do this one thing or this one thing.’ We’re telling them, ‘We can really give you all of the information about what’s happening in your route.’”
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