Munchery has ceased operations of its on-demand food delivery business, reports TechCrunch. The San Francisco-based company was founded in 2010 and raised a total of $125 million in venture capital funding, reaching a valuation of $300 million with an $87 million round in 2015.
Munchery laid off 30 percent of its workforce in May 2018 after shutting down Seattle, Los Angeles, and New York operations to focus on its biggest market, San Francisco. However, the company failed to achieve its goal of profitability in the near term, and building a long-term, sustainable business. Since its founding, the company changed its format from a ready-to-eat meal delivery service to delivering meal kits to creating a monthly subscription plan for repeat customers, and finally, opening up a shop inside a San Francisco BART station. Full Story
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from Specialty Food News http://bit.ly/2UdlXMJ
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