How Pharmapacks Makes Millions Selling on Amazon

Pharmapacks began as a branch of a retail pharmacy in Bronx, New York, aiming to sell merchandise online. They raised $750,000 from family and foresaw the rise of eCommerce and marketplaces like Amazon. They partnered with Amazon to become a major retailer, building proprietary eCommerce and logistics software to gain a competitive edge. Their dynamic pricing software adjusts prices every 45 minutes, improving customer satisfaction and ratings. Pharmapacks grew from 6 to over 350 employees, expanded their facility, and increased weekly shipments significantly. They aim to reach $500 million in revenue within a few years.

What was the initial source of funding for Pharmapacks?

• Venture capital firms

• Bank loans

• Friends and family

• Crowdfunding

Why did Pharmapacks decide to build their own eCommerce software?

• To gain a competitive edge

• To create a level playing field

• To save on costs

• To avoid software bugs

How often does Pharmapacks adjust their prices with their dynamic pricing software?

• Every 15 minutes

• Every hour

• Every 45 minutes

• Every 30 minutes

What was the weekly shipment volume of Pharmapacks after their growth?

• 200,000 packages

• 130,000 to 140,000 packages

• 10,000 packages

• 50 packages

What is Pharmapacks' revenue goal within the next few years?

• $200 million

• $1 billion

• $300 million

• $500 million