Top M&A Entrepreneurs From Chiropractor to $20M Exit: Neal Cobb’s Startup Story
Jun 29, 2025
Neal Cobb, former chiropractor turned founder who scaled SkipCart to 35 states, raised $20M and exited to 7-Eleven. He talks about launching a white‑label last‑mile delivery model, solving driver supply with hourly guarantees, closing a $20M raise during COVID, and now buying legacy lower‑midmarket businesses with EquityX.
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Turning Down $10M To Prove Product Potential
- Neal Cobb turned down a $10M acquisition offer from HEB before SkipCart had done a single delivery because he believed the business could scale larger.
- That conviction led to landing Walmart and scaling SkipCart into 35 states within the first year, validating the decision to keep building.
Guaranteed Hourly Blocks To Secure Drivers
- To solve driver availability during pilots, Neal guaranteed drivers $20/hour for four-hour blocks to ensure pickups, intentionally losing money to prove the model.
- He tested it live in Toledo, left for a Spurs game, and the guaranteed blocks became the 'aha' that made drivers reliably accept orders.
Per Delivery Profitability Can Mask Overall Losses
- SkipCart was profitable per-delivery but never profitable overall because team and overhead costs outpaced delivery margins.
- They intentionally burned cash while scaling, relying on investor capital until raising a $20M Series A during COVID.