Category Archives: e.ventures

Streetwear marketplace Bump raises $7.5M

Bump, the Y Combinator-backed marketplace for streetwear, is announcing that it has raised $7.5 million in Series A funding. Bump’s Jack Ryder told me that even before starting the company, he and his co-founder Sam Howarth were active in buying and selling streetwear and sneakers — but he admitted that it took several tries before the startup found the right model. (He described a previous iteration, involving a reverse marketplace where people post the items they’re interested in buying, as “the world’s worst idea.”) Now, however, Ryder […]

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Failed meal-kit service Munchery owes $6M to gift card holders, vendors

Several weeks after a sudden shutdown left customers and vendors in the lurch, meal-kit service Munchery has filed for bankruptcy. In the Chapter 11 filing, Munchery chief executive officer James Beriker cites increased competition, over-funding, aggressive expansion efforts and Blue Apron’s failed IPO as reasons for its demise. Munchery owes $3 million in unfulfilled customer gift cards and another $3 million to its vendors, suppliers and various counterparties, the filing reveals. The company’s remaining debt includes $5.3 million in senior secured debt and convertible debt of approximately […]

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After raising $125M, Munchery fails to deliver

On-demand food delivery startup Munchery is ceasing operations effective immediately, the startup announced in an e-mail to customers on Monday. Founded in 2010, the San Francisco-based business had raised a total of $125 million in venture capital funding, reaching a valuation of $300 million with an $87 million round in 2015, according to PitchBook. Munchery was backed by Greycroft, ACME Ventures (formerly known as Sherpa Capital), Menlo Ventures, e.Ventures, Cota Capital, M13 and more. “Since 2010, we have been committed to bringing fresh, local, and delicious meals […]

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Braavo raises $6M for its app financing business

Braavo, a startup that provides financing to mobile app developers, is announcing that it has raised $6 million in Series A funding. The might not seem like much compared to the $70 million that Braavo announced raising last year, but that was debt financing, used to loan money to developers. This new round is equity financing, used to fund Braavo’s own operations and growth. Co-founder Mark Loranger told me Braavo was founded in 2015 in response to the “new dynamics” of mobile app businesses. And it’s worked […]

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