Squeezed out: widely mocked startup Juicero is shutting down

The company, which offered pre-sold packets of diced fruits and vegetables that users plugged into its $400 machines, launched only 16 months ago

Juicero, a Silicon Valley juicer startup that raised $120m from investors and was widely ridiculed after the $400 machines were revealed to be the equivalent of two hands squeezing a juice box, is shutting down.

The death of Juicero, announced on Friday, is the latest case of a San Francisco tech startup collapsing after raising substantial funds under the guise of innovation and disruption, but failing to build a profitable business.

Continue reading… …read more

Husband and wife bank £400m from sale of Matchesfashion.com

Tom and Ruth Chapman join the ranks of the mega-rich after selling their online designer fashion empire to investors

A husband and wife who started in business with one fashion shop in Wimbledon 30 years ago have banked £400m after selling their online designer fashion empire Matchesfashion.com to private equity investors.

Tom and Ruth Chapman will join the ranks of the mega-rich after taking their business, which sells brands including Gucci, Prada and Stella McCartney, as well as their own label Raey, to customers across the globe. They are understood to be keeping a stake in the business worth about £130m.

Continue reading… …read more