Rapid grocery delivery startup Fridge No More permanently shut down its operations on Thursday after talks with DoorDash Inc. to buy some of its business fell through.
The Brooklyn-based firm had been in discussions with DoorDash on a deal to offload its warehouses after the startup failed to secure funding from investors, according to people familiar with the matter. The food-delivery giant had been touring Fridge No More’s dark stores in February, but that process ended this month, the people said, asking for anonymity because the matter isn’t public.
“Investors were concerned about growing competition and about bad order economics, i.e. each order brings losses to the company,” CEO
→ Continue reading at Crain's New York Business
