upnflames t1_j9hjn7h wrote
I sold COVID testing supplies during the pandemic, it was ridiculous the amount of money that the city was literally throwing at companies.
Before the pandemic, my average sale for a particular item was $5-$10k with a 20-30% institutional discount for hospitals and med schools. Ubiquitous, commodity type of lab product. One morning in August 2020, I get a call from a company I never heard of looking for a ridiculous amount of these things. Initially, I thought it might be a reseller or just someone throwing huge numbers up to fish for bulk discounting (this was early days, before I realized the flood gates were open). I quoted list price and they asked if I could guarantee supply. I told them if they sent me a PO, I'd personally call the factory to secure delivery. Four hours later, I had a $600k full list price PO - over $300k in margin dollars. I hadn't even had time to research the company before I got paid - turned out they won a city testing contract for something like $20 million a month and they didn't even really have a functioning lab built.
The company I worked for at the time did about $50m a year in sales in the US - over the next three months myself and the rep from Chicago sold our entire manufacturing capacity for a year. I got my last comp check on it January 2022 and then I quit lol.
pxmpxmpxmpxm t1_j9zf0hh wrote
>> they won a city testing contract for something like $20 million a month and they didn't even really have a functioning lab built
>
>Shocker, some new company with zero assets magically wins a huge government contract. Keep an eye out for FBI charging both the company and the politician that was running the bidding process.
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