'Nobody talks about failure in Silicon Valley': I started a food delivery service that grew to $20 million in revenue before it tanked. Here's what happened.
Three years ago, Neeraj Berry and I shut down our company Sprig, which raised $60 million from Greylock Partners and Social Capital and grew to $20 million revenue.
While working as a growth advisor to Lyft, multiple people approached me: What if we pursued Lyft for food?
We had epic revenue growth with burn-rate growth.
We were running a restaurant doing $6 million in revenue but paying real estate for a place that needed $20 million in revenue to be profitable.
Berry and I made an executive decision: We shut Sprig down on May 27, 2017.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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