MilkRun founder Dany Milham has argued the collapsed start-up’s business model was better than many outsiders thought.
MilkRun founder Dany Milham has argued the cash-burning company managed to break even at some of its grocery hubs ahead of schedule, but the shifting funding environment stifled plans to reach overall profitability.
“We always knew that achieving the scale needed to reach overall profitability would require significant initial and ongoing investment over a long period of time,” Mr Milham wrote in a LinkedIn post published on Friday afternoon. he planned to close the company down, and assured the 400 employees there was enough cash to pay all suppliers, plus give employees and riders severance packages.
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