The founder is exactly what you might think she would look like.
Posted on 03/30/2022 2:15:59 PM PDT by NohSpinZone
Wood wasn’t alone. When Zero Grocery abruptly closed on March 4 — just a month after announcing it had raised $12 million and expanded to Los Angeles — it shocked Bay Area food businesses that sold their products through the plastic-free delivery service. Many were owed money and questioned what went wrong inside the fast-growing startup, which is now going through insolvency proceedings to liquidate its assets.
Among Bay Area businesses, Starter Bakery appears to be owed the most money. Others including Berkeley’s Boichik Bagels, San Francisco’s Obour Foods and San Leandro’s As Kneaded Bakery have outstanding invoices ranging from about $800 to $5,000, according to a spreadsheet the owners are circulating. Some, meanwhile, including Equator Coffees and Riverdog Farm in Napa County, said they were unaffected. Those owed money have been instructed by CMBG Advisors, a Los Angeles restructuring firm, to file a claim by September to recoup their losses, but some worry that’s money they’ll never see.
*SNIP*
Zero Grocery founder Zuleyka Strasner tweeted along with the closure announcement in March that while bringing in “millions in revenue,” Zero Grocery “suffered from being chronically undercapitalized.” In an interview with The Chronicle, Strasner said the business was doing well but believed its focus on sustainability meant it couldn’t survive in a highly competitive market.
“The landscape for founders like me, for diverse founders and in the sustainability space is very, very challenging,” she said. “We were not able to make it.” Capital is often less accessible to people of color; the owner of Oakland’s mission-driven Community Foods Market attributed its recent closure in part to the difficulty faced by minority-owned small businesses trying to raise funds.
(Excerpt) Read more at sfchronicle.com ...
The founder is exactly what you might think she would look like.
The aptly named Zero Grocery.
Where did the $12 million go?
To any normal, non-woke businessman (person?) this sounds very much like flat out fraud.
Startup business fails, blacks and women most affected.
Oh no, no, no! You don't understand how things go in The Bay Area. Anything less than $12 billion was completely inadequate for a boffo idea like this one. Anything less is "chronically undercapitalized." They were set up to fail!
Now go pay your taxes, serf.
And I love when the the left betrays and cheats its own!
Zuleyka Strasner pitched 263 investors to raise capital for her zero-plastic grocery delivery company. She discusses leveraging your network, the power of persistence, dealing with hundreds of nos, and how finding the right investors can help you flourish.
Did you know the vast majority of recycling doesn't actually get recycled?Source: Founders Suite.Like many, Zuleyka Strasner wasn't aware of the unsettling studies that showed only 9% of plastic recycling is properly salvaged for other products. When she came to this realization a few years ago, she decided to go plastic free.
In 2018, she founded her own zero-waste grocery delivery company called Zero Grocery. "The goal here is to radically ... radically shift the supply chain," Zuleyka says.
Zuleyka began with zero capital and lofty fundraising goals. She assumed she would meet maybe 20 people, and a few of them would cut her some checks adding up to $500,000. In reality, she ended up meeting with 263 people for that first round.
"I wasn't prepared for it to be such an arduous process to kind of convince folks of what I was doing. Remember, I had no team, it was just me. So I really had to sell me [and] my vision," she explains.
Since then, Zuleyka has raised $4.7 million in two years, and business is booming.
In this episode of How I Raised It, Zuleyka discusses leveraging your network, the power of persistence, dealing with a barrage of nos, and finding the right investors that can help you not only grow, but flourish.
The business owners said all they can do now is learn from their experiences.
Of course. What else would it be!
I would hope so! Accounts receivable is your friend, small businesses.
Ie) We lose money on every sale, but hope to make it up by doing having even more sales. Why won't people give us more money to burn?!
Carrot Top gave up on comedy? :)
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"Shut up!"
I guess it worked for Amazon.
Well, defrauding your vendors is certainly one way to accomplish that.
Is that zir chosen pronouns or are you just making this up?
“Berkeley’s Boichik Bagels”? Boi-Chik?
It could simply be somebody’s last name. However...
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