Juicero, a Silicon Valley juicer startup that raised $120m from investors and was widely ridiculed after the $400 machines were revealed to be the equivalent of two hands squeezing a juice box, is shutting down.
The death of Juicero, announced on Friday, is the latest case of a San Francisco tech startup collapsing after raising substantial funds under the guise of innovation and disruption, but failing to build a profitable business.
To our loyal customers and partners,
Since our launch 16 months ago, we’ve been grateful for the support you’ve shown toward our mission of bringing more fresh produce into people’s lives. Juicero has grown so much thanks to your loyalty.
However, today, after selling over a million Produce Packs, we must let you know that we are suspending the sale of the Juicero Press and Produce Packs immediately.
In order to fulfill our mission, we announced last month that we would shift our resources to focus on lowering the price of the Press and Produce Packs. We began identifying ways that we could source, manufacture and distribute at a lower cost to consumers.
During this process, it became clear that creating an effective manufacturing and distribution system for a nationwide customer base requires infrastructure that we cannot achieve on our own as a standalone business. We are confident that to truly have the long-term impact we want to make, we need to focus on finding an acquirer with an existing national fresh food supply chain who can carry forward the Juicero mission.
For the next 90 days, we are offering refunds for your purchase of the Juicero Press. Please contact firstname.lastname@example.org by December 1, 2017 to request a refund for your purchase. If you have an active Pack subscription, you will receive your final delivery next week (week of September 4th).
Articles about the topic
- Squeezed out: widely mocked startup Juicero is shutting down – The Guardian
- Juicero, start-up with a $700 juicer and top investors, shuts down – The Hindu
- RIP Juicero, the $400 venture-backed juice machine – Tech Crunch
- Running out of juice: Maker of much-ridiculed $400 juicer folds business and lays off staff after admitting his prices were ‘not realistic’… as he parties away at Burning Man – DailyMail