>SpoonRocket had reached a positive contribution margin — it was selling meals for more than it cost to cook, package, and deliver them. But due to other costs and the frosty fundraising climate, it wasn’t able to get the money it needed to continue operating.
I wouldn't describe that as "failing horribly". They just couldn't raise money. I was under the impression that they were turning a profit. Maybe this article isn't accurate, do you have other information? I'm actually quite interested in this story, seems like a cool idea but I imagine the financial side of this needs to be really well managed. So many possible places that costs could get away from you.
I wouldn't describe that as "failing horribly". They just couldn't raise money. I was under the impression that they were turning a profit. Maybe this article isn't accurate, do you have other information? I'm actually quite interested in this story, seems like a cool idea but I imagine the financial side of this needs to be really well managed. So many possible places that costs could get away from you.