Tags: juicero | startup | buyer

Startup Juicero Shutters Operations and Plans to Seek a Buyer

Image: Startup Juicero Shutters Operations and Plans to Seek a Buyer
(Dollar Photo Club)

Saturday, 02 September 2017 12:56 PM

Juicero Inc., the vegetable and fruit juice startup that raised more than $100 million from investors, said it will suspend sales, offer refunds to customers and find a buyer for the company.

The decision to effectively shut down its business comes four months after a Bloomberg News report that the company’s juice packets could be squeezed by hand and didn’t require Juicero’s machine, which cost $400. The machine had previously sold for $700, before the price cut.

Juicero announced the decision in a statement Friday posted on its website. “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,” the San Francisco-based company said.

Fortune earlier reported Juicero’s decision to cease operations.

© Copyright 2018 Bloomberg News. All rights reserved.

   
1Like our page
2Share
Companies
Juicero Inc., the vegetable and fruit juice startup that raised more than $100 million from investors, said it will suspend sales, offer refunds to customers and find a buyer for the company.The decision to effectively shut down its business comes four months after a...
juicero, startup, buyer
131
2017-56-02
Saturday, 02 September 2017 12:56 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved