Daily Delivery

Fez and Sal Rismani, from Vancouver, BC, asked for $200,000 for 10 per cent of Daily Delivery, an on-demand urban delivery marketplace connecting businesses and individuals with crowdsourced couriers, comparing the model to Uber. The company has been operating for about 15 months, has 45 to 50 delivery people depending on the season, and charges businesses flat rates of about $8 to $10 per delivery with an average delivery time of 32 to 35 minutes. Over 83 per cent of the business comes from enterprise and business clients. Sales were about $35,000 in the most recent month and over $300,000 in the first 12 months, with only $3,000 of the founders' own investment, largely spent on delivery scooters before switching to a crowdsourced driver model; the company reported 35 per cent month-over-month organic growth with margins around 17 to 34 per cent.

Michael Wekerle went out, saying the numbers and margins did not add up. Jim Treliving went out, skeptical that a crowdsourced delivery model could reliably deliver a quality product. Manjit Minhas went out, saying she was not ready to invest in a single delivery business. Joe Mimran and Michele Romanow jointly offered $200,000 for a third of the business, which was negotiated down to $200,000 for 20 per cent, and the brothers accepted.

Fez and Sal Rismani's crowdsourced delivery service, which took a deal with Joe Mimran and Michele Romanow earlier in season 10, had grown staff from 3 to 11, tripled its registered delivery drivers, quadrupled its number of partner stores, and roughly doubled its daily order volume. The company rebranded its consumer-facing product as Grabbit and planned to expand into Toronto, Montreal and Calgary over the following year. Daily Delivery, which sealed a deal with Michele Romanow and Joe Mimran in season 10, has grown from three to 25 employees and moved into a larger office in Gastown, Vancouver. The company has tripled its sales, expanded nationally through a partnership with Penguin Pickup, is licensing its software to other delivery companies, and secured a major deal to provide delivery services for Walmart, with Michele Romanow directly involved in the negotiations.