#blue-apron #citychef
Kozmo and Webvan struggled to sustain their growth. Ultimately, they both burned through millions of dollars of investment capital around the turn of the millennium by chasing market share with murderous discounts for services that weren't ultimately in demand. "The problem with the most promising companies in today's market," says Paul Madera, managing director of Meritech Capital, "is that they are priced for perfect execution on their business plans over the next five years--and then they go public at very favorable valuations. And that means there is no room for the setbacks and adjustments that 99% of companies face."
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Unknown titlecustomers. "No one quite knows how this will all play out," says Sills.
CEO Matt Salzberg guided Blue Apron to "unicorn" status in less than three years. (Credit: Jamel Toppin for Forbes)
THE LAST TIME AROUND <span>Kozmo and Webvan struggled to sustain their growth. Ultimately, they both burned through millions of dollars of investment capital around the turn of the millennium by chasing market share with murderous discounts for services that weren't ultimately in demand. "The problem with the most promising companies in today's market," says Paul Madera, managing director of Meritech Capital, "is that they are priced for perfect execution on their business plans over the next five years--and then they go public at very favorable valuations. And that means there is no room for the setbacks and adjustments that 99% of companies face."
The execs at Blue Apron and Plated, no surprise, dispute those concerns, arguing that they have better reach and better retention than some might guess. "If I could show you our Summary
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