VCs Hunt for a Food Delivery Business That’s Sustainable
Investors are looking for startups on a path to profitability.
Over the last year, meal-delivery businesses have mostly served up pessimism. Several have closed their doors, the most recent being Maple, a venture-backed New York startup that shut down last week. Others, including Munchery Inc., Postmates Inc. and Zesty Inc., have cut workers. Sprig Inc., which is backed by Accel and other venture capitalists, is burning through $850,000 a month and is seeking a buyer, said people familiar with the matter.