News > The speedy downfall of rapid delivery startups

The speedy downfall of rapid delivery startups

26/07/2022 03:25 PM | Click to read full article

It took only eight months for Jokr, the superfast delivery startup, to become a unicorn, and just six months more for its strategy to start coming apart. Jokr had plastered New York City with splashy ads promising to deliver groceries within 15 minutes—For free! With no minimum order!

Jokr was also bleeding money. In the first half of 2021, the startup took in $1.7 million in revenue but suffered $13.6 million in losses. In April it shut down in Europe.

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