Driven Deliveries Inc. (DRVD) July: Another Record Month, Fueled by Customer Acquisition & Retention

52

Miami, FL – August 19, 2020 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Driven Deliveries Inc. (OTCQB: DRVD).

Driven Deliveries, Inc., is among the first publicly traded cannabis delivery services operating within the United States. Founded by experienced technology and cannabis executives, the company provides e-commerce solutions, online sales, and on-demand cannabis delivery, in select cities where allowed by law. Driven offers legal cannabis consumers the ability to purchase and receive their marijuana in a fast and convenient manner. 

Average daily volume for DRVD is 40 thousand shares. See how the volume does in the morning hours of trading.

Driven Deliveries Inc. Press Release:

LOS ANGELES, Aug. 19, 2020 /PRNewswire/ — Driven Deliveries Inc. (the “Company” or “Driven”) (OTCQB: DRVD), one of California’s fastest growing online cannabis retailers and direct-to-consumer logistics company, today provided a business update to its shareholders following another record breaking month.

In July, the Company completed a record 31,259 orders and total average orders per day rose to 1,008, including a record-breaking day of 1,334 orders. Overall, monthly revenue rose by 4.45% to $2,127,396.31. Additionally, Driven added $2.35 million in funding to support strategic growth initiatives.

Other Company highlights include:

— The largest customer gains in Driven history, with 5,423 new customers added to the platform — Customer acquisition cost improved again to $9.94, fueled by BrandBudee contributions. — Six new brands added to the platform, including Sunderstorm, TSO, and Canamsterdam — Five new brands added to the BrandBudee program; including Mary Mary, Kanha, TKO, and Sol Distro. — Expanded features to the BrandBudee program which allows for all brands to surface in the widget inventory when users are browsing inventory. — Expanded Driven by Numbers to enable reporting and analytics for BrandBudee participants. — Completed technology advancements including an inventory ordering model that enables the automation of the purchase order process, inventory receiving and METRC reporting including a seamless interface into the company’s financial accounting system to more accurately track costs associated with each individual order. The interface will also offer significant cost reductions in the data entry functions in the accounting group. — The launch of a new BudeeDrop merchant referral program which compensates local merchants for promoting Budee.

Throughout the remainder of the third quarter Driven will be focused on maintaining growth while reducing operating costs within the State of California as well as continued technological advancements including the development of a proprietary RFID solution to expedite pick, pack and shipping operations within the Company’s three, growing to four, fulfillment centers.

“We will continue to execute on the plan,” said Christian Schenk, CEO Driven Deliveries Inc. “July is another example of focus and calculated expansion here in California. Our online retail business continues to see sustainable growth while our brand to consumer solution, BrandBudee, is experiencing growth as more participating brands complete integration of the BrandBudee web-widget”.

About Driven:

Driven Deliveries, Inc., is among the first publicly traded cannabis delivery services operating within the United States. Founded by experienced technology and cannabis executives, the company provides e-commerce solutions, online sales, and on-demand cannabis delivery, in select cities where allowed by law. Driven offers legal cannabis consumers the ability to purchase and receive their marijuana in a fast and convenient manner. By 2020, legitimate cannabis revenue in the U.S. market is projected to hit $23 billion. By leveraging consumer trends, and offering a proprietary, turnkey delivery system to its customers, management believes it is uniquely positioned to best serve the needs of the emerging cannabis industry and capture notable market share within the sector. For more information, please visit www.DRVD.com and review Driven’s filings with the U.S. Securities and Exchange Commission.

Forward-looking Statements:

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations, and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that we will achieve these plans, objectives, expectations or intentions. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company’s control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:

KCSA Strategic Communications

Valter Pinto or Elizabeth Barker

+1 212-896-1254 or +1 212-896-1203

IR@DRVD.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/july-another-record-month-for-driven-deliveries-fueled-by-customer-acquisition–retention-301114841.html

SOURCE Driven Deliveries, Inc.

/Web site: https://www.drvd.com/ 

About EmergingGrowth.com

EmergingGrowth.com is a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies.  Through its evolution, EmergingGrowth.com found a niche in identifying companies that can be overlooked by the markets due to, among other reasons, trading price or market capitalization.  We look for strong management, innovation, strategy, execution, and the overall potential for long- term growth.  Aside from being a trusted resource for the Emerging Growth info-seekers, we are well known for discovering undervalued companies and bringing them to the attention of the investment community.  Through our parent Company, we also have the ability to facilitate road shows to present your products and services to the most influential investment banks in the space.

All information contained herein as well as on the EmergingGrowth.com website is obtained from sources believed to be reliable but not guaranteed to be accurate or all-inclusive. All material is for informational purposes only, is only the opinion of EmergingGrowth.com and should not be construed as an offer or solicitation to buy or sell securities. The information may include certain forward-looking statements, which may be affected by unforeseen circumstances and / or certain risks.  EmergingGrowth.com, or its associates may have a position either long or short in any company mentioned herein. Please read our full disclosure, which can be found here, http://emerginggrowth.com/disclosure/. Please consult an investment professional before investing in anything viewed within this article or any other portion of EmergingGrowth.com. In addition, please make sure you read and understand the Terms of Use, Privacy Policy and the Disclosure posted on the EmergingGrowth.com website.

Add a Comment to this Post

comments