10-MINUTE TAKE: Gopuff

A compressed version of Scottish Mortgage’s interview with the everyday item delivery service’s co-founder Yakir Gola. Listen to the full episode here. ‘Instant commerce’ company Gopuff delivers groceries and other everyday goods to shoppers’ homes in as little as 15 minutes after an online order. What’s more, it can price-match many products with the major supermarkets. Co-founder and co-chief executive Yakir Gola tells Scottish Mortgage why running its own warehouses and technology is critical to its growth. Background: Scottish Mortgage first invested in Gopuff in 2021. The US-based company speedily delivers groceries, hot coffee and alcohol, among other items, to your door without charging premium prices. Unlike rivals that send gig workers to pick up goods from third-party stores, Gopuff runs its own warehouses. In this podcast, Gola discusses how the business grew out of a dorm-room idea, Gopuff’s partnerships with Starbucks and what’s next on his to-do list. Timecodes: 00:03 Introduction 01:05 Yakir Gola interview begins 01:13 “5,000 products delivered in as fast as 15 minutes” 01:50 A better way to get stuff delivered 03:40 Keeping control of its own warehouses 05:47 Fresh produce and everyday essentials 07:02 Partnering with Starbucks 08:24 Recalibrating after Covid 09:53 Taking the hassle out of shopping Glossary (in order of mention): Instant commerce: The category of online retail focused on delivering goods within minutes of an order, rather than within hours or the next day. Bootstrapped: When an entrepreneur starts and grows a business using his or her own money and cash generated by operations rather than outside investors. Inventory integration: The systems that let a company know what products are actually in stock and available to sell or deliver. Free cash flow: Cash left after paying for operating costs and investment needed to run the business. Vertically integrated: When a company owns and controls more of the supply chain itself, such as inventory and warehouses. Check the podcast description to ensure this content is suitable for you. Your capital is at risk. Presenter: Claire Shaw Executive Producer: Leo Kelion Line producer: Jessica Rooney Broadcast Technician: Samual O’Hare Editor: Jody Black