6/28/2022 0 Comments Losing $10 an order: Grocery app Milkrun drops rapid delivery pledge to curb lossesRapid grocery company Milkrun is ditching its promise of 10-minute deliveries, making alcohol a larger part of its business and cutting back spending on rider pay as it tries to grow and improve a startup that is currently losing about $10 per order at even some of its best locations.
The plans from Milkrun, which is perhaps Australia’s most feted young startup and operates in inner Sydney and Melbourne, are contained in a leaked pitch to investors for more money that comes soon after its last $75 million raise and amid a startup and technology sector slump. Founder Dany Milham, who previously co-founded the Koala furniture brand, emphasised that the April pitch was not the most current version and argued that numbers like its loss per order were not reflective of Milkrun’s business because they were rapidly turning around into profit. Read More: https://www.smh.com.au/business/entrepreneurship/losing-10-an-order-grocery-app-milkrun-drops-rapid-delivery-pledge-to-curb-losses-20220624-p5awg9.html
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