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Tag Archives: returns

Doughbies’ cookie crumbles in a cautionary tale of venture scale

Doughbies should have been a bakery, not a venture-backed startup. Founded in the frothy days of 2013 and funded with $670,000 by investors, including 500 Startups, Doughbies built a same-day cookie delivery service . But it was never destined to be capable of delivering the returns required by the VC model that depends on massive successes to cover the majority of bets that fail. The startup became the butt of jokes about how anything could get funding. This weekend, Doughbies announced it was shutting down immediately. Surprisingly, it didn’t run out of money. Doughbies was profitable, with 36 percent gross margins and 12 percent net profit, co-founder and CEO Daniel Conway told TechCrunch. “The reason we were able to succeed, at this level and thus far, is because we focused on unit economics and customer feedback (NPS scoring). That’s it.” Many other startups in the on-demand space missed that memo and vaporized. Shyp mailed stuff for you and Washio dry cleaned your clothes, until they both died sudden deaths. Food delivery has become a particularly crowded cemetery, with Sprig, Maple, Juicero and more biting the dust. Asked his advice for others in the space, Conway said to “Make sure your business makes sense — that you’re making money, and make sure your customers are happy.” Doughbies certainly did that latter. They made one of the most consistently delicious chocolate chip cookies in the Bay Area

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Walmart’s app makes the return process easier

Walmart is adding another new feature to its app and this one aims to make returning items as painless as possible. Starting soon, when you need to return something, you'll first start the process on the app. Then head to a store, scan a QR code at t...

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