Keep pulling the thread on Jim Belosic.
The cost for SendCutSend to open a new large manufacturing facility is now $50 million.
SendCutSend recently raised approximately $110 million in a funding round.
In its recent funding round, SendCutSend sold a 10% stake in the company.
With its recent funding, SendCutSend expects to achieve its 5-to-8-year strategic goals within the next 18 to 24 months.
SendCutSend's recent funding round included investments from Sequoia, Paradigm, and Patrick Collison.
In the United States, 93% of manufacturing companies have 100 or fewer employees.
Approximately 75% of manufacturing companies in the United States have 20 or fewer employees.
SendCutSend is currently able to meet or beat prices from China on 20% to 25% of the parts it produces.
Jim Belosic believes that full automation and "lights-out manufacturing" are not the most effective strategies for U.S. manufacturers to compete with China at present.
SendCutSend was bootstrapped for eight years, focusing on achieving profitability and scaling using company profits before taking on significant external capital.
SendCutSend plans to expand its workforce from approximately 400-500 employees to over 1,000.
SendCutSend's business has shifted from serving hobbyists to a model where 90% of its work is for large enterprise customers.