My data shows December 2020 ending with about 187 million bucks or revenue. How much equity had you guys raised up to this date? Yeah, I think it was around 3.380. 380 million dollars. How much equity did you own when you guys went public? When we IPOed, I was down as a startup or as a founder to low single digit percent. It looks like you write about 0.000 percent. Surely he made more than 10, 20, 30 million bucks on this company, but it sounds like that was not the case. Is that accurate? Yeah, it was not the case. What was revenue of espresso when you spun it out? We sort of brought through, I'd say, around 2.5 million of ARR in early 2023. Are you comfortable sharing where you guys finished 2025 in terms of revenue? Yeah, it's about doubled. Then on April 2nd, 2023, you guys file for Chapter 11 bankruptcy there.

Hey folks, my guest today is Jared Gaiman.

He was previously the co-founder of Boxed.

He led the company's growth and innovation in the online wholesale retail space all the way through an IPO in 2021.

I think that was via SPAC. As its CEO, Spresso now today, deploys technology worldwide solving significant challenges in the e-com space. Jared, you ready to take us to the top? Yes, sir. Thanks for having me, Nathan. Thank you, the audience, for tuning in. You bet. We're going to mostly focus on Spresso today, but we can't do that without your background going back to 2013. Based off my

research, boxed was not a small company. I mean, when we look at year-ended 2018 total revenue, net revenue, we're looking at 140 million bucks. Well, I'm reading off the S-1. Is the S-1 inaccurate? No, no, no. That trust me. They're very accurate. Yeah, very accurate. That's the right answer, by the way. If your S1's inaccurate, you're in a whole lot of trouble.

Yeah, it's a S1, sCC.gov requirements or, you know, startup visionary, you know, a GMV calculations. But yes, sir, you are correct. I appreciate the research. This is ultimately about you. So look, my data shows December 2020 ending with about 187 million

bucks of revenue. What happened to Boxed? Okay. Yeah, well, let me explain a little bit more

about what Box did. So I came to New York. I can remember this off the top of my head, Friday,

September 12th of 2008 as a corporate lawyer. About 36 hours later, Lehman Brothers collapsed. So there went my, you know,

corporate lawyer trajectory and, you know, Wheeler, dealer in the M&A space, but stuck around in

law for a couple years. And around 2010, the rise, that was a very significant chapter of

startups, right? We're kind of exiting the social networking, you know, Facebook, you know, Twitter ascendance, right? And we were now fully into mobile apps and sort of in that like

max growth disruption, Airbnb, Uber, you know, 15 years ago, seems like it was 50 years ago

at the same time and also maybe not that long ago. But yeah, pivoted from law because I think

there was a great affinity, one with what was happening in venture capital and entrepreneurship, especially in New York where we're based, where you know, you had Silicon Valley and there were kind of Silicon Alley. It was small, tight-knit, like meetups were huge, like going to demo days. There's a lot of excitement. And, you know, our first foray was actually in gaming. So we did a small gaming startup that

essentially riffed on what Zinga or Facebook were doing with things like Farmville and CityVille.

We brought that to mobile. That got a good amount of attention. We sort of cut her teeth in

technology, you know, venture capital, entrepreneurship, data, data science, product user experience.

And we managed a gaming company for a couple of years. We exited that company and then, you know, a year, 15 months or so into that. We said, look, gaming is fun. What's kind of toy aisle of life? Like, let's go for the big swing. Like, let's go for the whole store. And that's to us what e-commerce was, right? So warehouses, fulfillment, pick, pack, and ship, last mile logistics. Like, you name it.

That's what's involved. whole store. And that's to us what e-commerce was. Right. So warehouses, fulfillment, pick, pack,

and ship, last mile logistics. Like, you name it. That's what's involved in e-commerce. And that's what boxed was. And we said, look, people are going to look for convenience. They're going to look for savings. Your time really matters. People are just going to want to look through guilt group, Amazon, right? E-commerce was there, but as far as buying consumables, that was very, very nascent.

...