Category Archives: James Beriker

Startups Weekly: What’s up with YC? Plus, mobility layoffs and Airbnb’s grand plans

Where to begin… Netflix darling Marie Kondo is hitting up Sand Hill Road in search of $40 million to fund an ecommerce platform, Y Combinator is giving $150,000 to a startup building a $380,000 flying motorcycle (because why not) and Jibo, the social robot, is calling it quits, speaking to owners directly of its imminent shutdown. It was a hectic week in unicorn land so, I’m just going to get right to the good stuff. Changes at Y Combinator Where to begin! Not only did the prolific […]

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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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Startups Weekly: Even Gwyneth Paltrow had a hard time raising VC

I spent the week in Malibu attending Upfront Ventures’ annual Upfront Summit, which brings together the likes of Hollywood, Silicon Valley and Washington, DC’s elite for a two-day networking session of sorts. Cameron Diaz was there for some reason, and Natalie Portman made an appearance. Stacey Abrams had a powerful Q&A session with Lisa Borders, the president and CEO of Time’s Up. Of course, Gwyneth Paltrow was there to talk up Goop, her venture-funded commerce and content engine. “I had no idea what I was getting into […]

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Former Munchery employees sue company, blame CEO for shutdown

The Munchery saga continues. In a new class-action lawsuit, former Munchery facilities worker Joshua Philips is claiming the startup owes him and 250 other employees 60 days’ wages, citing The Worker Adjustment and Retraining Notification Act, a U.S. labor law that requires employers with an excess of 100 employees to give notice 60 days ahead of mass layoffs. Munchery, a prepared meal delivery company headquartered in San Francisco, announced in an email to customers on January 21 that it would cease operations, effectively immediately. The abrupt shutdown not […]

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After an abrupt shutdown, Munchery’s small business vendors are the ones picking up the bill

Munchery’s vendors claim the food delivery startup took advantage of them in its final hours, knowingly allowing them to continue making deliveries it couldn’t pay for. Earlier this week, Munchery surprised customers with an email announcing it would cease operations, effective immediately. It did not, however, notify any of its vendors of the news, according to the owners of several small San Francisco-based businesses, who told TechCrunch they are owed thousands in overdue Munchery payments. Charles Farriér, the owner of Crumble & Whisk Patisserie, is waiting on a […]

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