Product details

By continuing to use our site you consent to the use of cookies as described in our privacy policy unless you have disabled them.
You can change your cookie settings at any time but parts of our site will not function correctly without them.
Case
-
Reference no. 319-0273-1
Authors: S K Kohli
Published by: Amity Research Centers
Published in: 2019

Abstract

Vericool, Inc based in Livermore, California, USA, manufactured Vericoolers(R), sustainable coolers that ensured food, medicines and other temperature sensitive products stayed cool from packaging stage to receipt by the consignee. The company was founded on 6th October 2015 by Darrell Jobe, an ex prisoner, who had invented the first fully recyclable and compostable coolers. Vericool had fostered 'a second chance program to offer former inmates well-paid jobs'. The former prisoners were given a chance to make a living through their hard work and also earn stock shares. Media had reported that giving former prisoners a new lease of life had proven to be a successful business strategy. Vericool had grown fast post 2015; it had raised USD10 million from investors and had packaging partnership with several companies such as ButcherBox, Dream Pops and more. As per media reports, USA had horrific recidivism rates for former prisoners. Companies were reluctant to hire former prisoners and gang members and had cited several issues and challenges. Vericool had planned to scale up and have a global footprint in the next five years. Would the company continue hiring people in need of a second chance to scale up and have a global footprint? Would success achieved by Vericool influence other businesses / corporates to follow suit and adopt it? Would providing employment to ex-cons reduce recidivism?

Teaching and learning

This item is suitable for undergraduate, postgraduate and executive education courses.

Time period

The events covered by this case took place in 2019.

Geographical setting

Region:
Americas
Country:
United States
Location:
California

Featured company

Vericool, Inc
Employees:
11-50
Type:
Self-owned
Industry:
Containers & packaging industry

Featured protagonist

  • Darrell Jobe (male), Founder & CEO

About

Abstract

Vericool, Inc based in Livermore, California, USA, manufactured Vericoolers(R), sustainable coolers that ensured food, medicines and other temperature sensitive products stayed cool from packaging stage to receipt by the consignee. The company was founded on 6th October 2015 by Darrell Jobe, an ex prisoner, who had invented the first fully recyclable and compostable coolers. Vericool had fostered 'a second chance program to offer former inmates well-paid jobs'. The former prisoners were given a chance to make a living through their hard work and also earn stock shares. Media had reported that giving former prisoners a new lease of life had proven to be a successful business strategy. Vericool had grown fast post 2015; it had raised USD10 million from investors and had packaging partnership with several companies such as ButcherBox, Dream Pops and more. As per media reports, USA had horrific recidivism rates for former prisoners. Companies were reluctant to hire former prisoners and gang members and had cited several issues and challenges. Vericool had planned to scale up and have a global footprint in the next five years. Would the company continue hiring people in need of a second chance to scale up and have a global footprint? Would success achieved by Vericool influence other businesses / corporates to follow suit and adopt it? Would providing employment to ex-cons reduce recidivism?

Teaching and learning

This item is suitable for undergraduate, postgraduate and executive education courses.

Settings

Time period

The events covered by this case took place in 2019.

Geographical setting

Region:
Americas
Country:
United States
Location:
California

Featured company

Vericool, Inc
Employees:
11-50
Type:
Self-owned
Industry:
Containers & packaging industry

Featured protagonist

  • Darrell Jobe (male), Founder & CEO

Related