Munchery closing down operations in LA, New York and Seattle
On-demand food delivery startup Munchery has announced that it is closing down its operations in Seattle, New York and Los Angeles.
In a message posted on the company blog on Friday (11 May), James Beriker, the CEO of Munchery, said: “This change is hard, but moving forward, our San Francisco team will focus on growing our business in San Francisco, our first and largest market, developing our shipping capabilities so that we can more efficiently serve other regions, and continuing to focus on evolving our technology platform.
“This reduction in scope will allow us to focus on continuing to execute on Munchery’s vision, achieve profitability on the near term, and build a long-term, sustainable business.”
Munchery started operating in 2011, delivering ready-cooked meals. In 2015, the company branched out to include meal kit deliveries. The company has reportedly raised about $120m in venture funding since its launch and was once valued at $300m – but we have been seeing considerable consolidation the US on-demand food delivery sector recently.