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How to succeed in today’s grocery delivery market on July 31, 2023 at 8:00 pm

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The instant grocery delivery market has been on a roller coaster ride over the past few years, and recently the ride has been down.

For example, Dunzo, a hyperlocal delivery startup in India, reportedly postponed employee salaries for a month and plans additional layoffs, with a strategy on “streamlining our cash flow so we can build a more sustainable business for the future,” it wrote to employees in an email.

Then over in Europe, Getir, the delivery giant there, said it was pulling out of Spain, Italy and Portugal as it was finalizing a new round of investment. That announcement came a month after Getir exited France.

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Not everything is doom-and-gloom in this market, though. Misfits Market acquired Imperfect Foods at the end of 2022, and JOKR raised additional funding earlier this year. Meanwhile, Misfits Market is finishing up the integration of the two companies. Granted, Misfits Market had its own brush with layoffs earlier this year, but founder and CEO Abhi Ramesh told TechCrunch+ that he has seen “meaningful positive improvement” in operation.

But in broader terms, he also said that “it is hard times for the industry.” We sat down with Ramesh to chat about how to succeed in this sector, the key to driving unit economics and what’s next for Misfits Market.

The following was edited for length and clarity.

How do instant grocery delivery companies succeed in this environment?

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One of the strategic mistakes folks in this category made was they assumed that the growth rate and demand in 2020 and 2021 would stay for the next three, four or five years. In reality, what happened is some of the demand was simply pulled forward, but not as much. Now it’s more like a normalization period.

For companies to do well right now, it requires a few things; one is you have to have scale. It’s tricky because this is also a time period where every company is trying to push profitability. When you’re pushing profitability, the first thing companies try to do is pull back on marketing spend to save dollars. But in e-commerce, that’s actually a vicious cycle where you pull marketing so you don’t grow as much or get the leverage in your finances to burn more.

​ Founder and CEO Abhi Ramesh chats about how to succeed in this sector, the key to driving unit economics and what’s next for Misfits Market. 

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Niremia Collective closes inaugural fund with $22.5M focused on well-being technology on February 2, 2024 at 1:59 pm

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Niremia Collective intends to provide capital and management resources to high-growth well-being startups as well as incubate new businesses.

© 2024 TechCrunch. All rights reserved. For personal use only.

​ [[{“value”:”Niremia Collective intends to provide capital and management resources to high-growth well-being startups as well as incubate new businesses.
© 2024 TechCrunch. All rights reserved. For personal use only.”}]] 

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FTC orders Blackbaud to overhaul ‘reckless’ security practices in wake of 2020 breach on February 2, 2024 at 1:20 pm

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Education tech company Blackbaud agreed to settle with the U.S. Federal Trade Commission over the company’s security practices that resulted in a 2020 data breach. The FTC alleges that Blackbaud, a U.S.-based company that provides financial and administrative software to colleges, nonprofits, healthcare organizations, and far-right organizations, had “lax” security protocols that allowed attackers to […]

© 2024 TechCrunch. All rights reserved. For personal use only.

​ [[{“value”:”Education tech company Blackbaud agreed to settle with the U.S. Federal Trade Commission over the company’s security practices that resulted in a 2020 data breach. The FTC alleges that Blackbaud, a U.S.-based company that provides financial and administrative software to colleges, nonprofits, healthcare organizations, and far-right organizations, had “lax” security protocols that allowed attackers to
© 2024 TechCrunch. All rights reserved. For personal use only.”}]] 

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Apple says it’ll show its GenAI efforts ‘later this year’ on February 2, 2024 at 12:14 pm

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Apple has tossed another crumb to investors wondering when the world will get to see some ‘Made in Cupertino’ GenAI: Expect Apple to reveal what it’s been working on in this buzzy slice of artificial intelligence “later this year”, per CEO Tim Cook. During an earnings call yesterday, Apple’s chief exec emphasized its ongoing investment […]

© 2024 TechCrunch. All rights reserved. For personal use only.

​ [[{“value”:”Apple has tossed another crumb to investors wondering when the world will get to see some ‘Made in Cupertino’ GenAI: Expect Apple to reveal what it’s been working on in this buzzy slice of artificial intelligence “later this year”, per CEO Tim Cook. During an earnings call yesterday, Apple’s chief exec emphasized its ongoing investment
© 2024 TechCrunch. All rights reserved. For personal use only.”}]] 

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