Instant grocery delivery startup Voly has slashed the number of staff in its head office, jettisoned its promise of 15 minute deliveries and closed half its warehouse sites. nickbonyhady
Instant grocery delivery startup Voly has slashed the number of staff in its head office, jettisoned its promise of 15 minute deliveries and closed half its warehouse sites as similar companies abroad struggle, prompting questions about the viability of their business model.hoping to upend the $100 billion annual supermarket sector by having the riders it employed swiftly bring items from a network of mini warehouses in inner-city suburbs to customers at retail prices.
Sequoia Capital, one of the best known venture capital firms in the world, told its founders in May that the sector was going through a “crucible moment” in which growth at all costs would no longer be rewarded. In particular, it said companies that relied on cheap capital had gone from being the best performing to the worst.
Store managers were not given as much notice, the staff member said, with one leaving scathing comments on an online review site.