815, This story has been shared 644 times. Brandless, the retail startup that shared an investor with Uber and WeWork, is shutting down after less than three years in business. The e-commerce company Brandless is shutting down, it confirmed to Business Insider. "I'm proud of what we created at Brandless and the hard work and dedication of everyone on the team," Brandless CEO Evan Price said in a statement to Business Insider. Brandless, once a direct-to-consumer darling brand selling grocery and other essential items, is shutting down. The San Francisco-based company announced that it’s stopping operations on its website, where it sold generic discount consumer goods from snacks and vitamins to shave gel and body wash. The San Francisco-based company has stopped taking all new orders and plans to … As part of its shut-down, the company will reportedly lay off 70 employees, with 10 staying aboard to resolve outstanding orders and presumably figure out how to sell its remaining assets. Sitemap Yahoo reports that less than … The company, which sold simply branded household, personal care, baby, and pet products on the cheap, … Brandless, the retail startup that shared an investor with Uber and WeWork, is shutting down after less than three years in business. February 11, 2020 at 8:40 AM EST; By Glenn Taylor; Share on linkedin. Today, just two and a half years after it launched, the online store Brandless is shutting down. 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This story has been shared 2,122 times. News reports today indicate that Brandless, the SoftBank Vision Fund-backed startup, will shut down permanently. WhatsApp [ad_1] This news follows a tumultuous few years for the once-promising startup that offered high quality, “brandless” goods for a single fixed price point of $3. Founded by entrepreneurs Tina Sharkey and Ido Leffler, Brandless offered hundreds of basic home goods, food staples and other essentials in monochromatic packaging with a focus on organic and natural products. SoftBank-Backed Brandless Shuts Down Business - BeautyMatter. Brandless is an American e-commerce company that manufactures and sells products under its own Brandless label. Brandless Shuts Down: A Victim Of Outsized Expectations News reports today indicate that Brandless, the SoftBank Vision Fund backed start-up, will shut down permanently. Brandless is reportedly the first startup to shut down after winning support from SoftBank’s Vision Fund, the Japanese investment giant that has also backed the likes of WeWork, Uber and food delivery service DoorDash. Brandless reimagined how we buy everyday goods. “While the Brandless team set a new bar for the types of products consumers deserve and at prices they expect, the fiercely competitive direct-to-consumer market has proven unsustainable for our current business model,” the company said. The San Francisco-based company announced that … Brandless has shut its doors less than three years after launching and a $240 million investment from SoftBank that valued it at $500 million. Now it’s folding. We've received your submission. Twitter shut down US President Donald Trump's account Friday, booting him from the global service to prevent another attack on the Capitol building. "Brandless set a new standard in the wellness and sustainable products industry, and while we weren't able to compete competitively in today's DTC market, I'm confident the next great brands of tomorrow will be built from this experience.". Subscriber Brandless is making a comeback four months after it shut down in February. In October, Brandless said it was looking to start selling its products in major retailers' physical stores, signaling a shift in its online-only business model. In March 2019, Brandless cofounder and CEO Tina Sharkey resigned from her role, which was taken up by the brand’s CFO, Evan Price, and later by John Rittenhouse, the former COO. Sign up for Insider Retail. Brandless, a DTC startup focused on food, beauty and personal care products, had raised a total of $292.5 million since its inception in 2016. as well as other partner offers and accept our, Visit Business Insider's homepage for more stories, Brandless executives reveal the e-commerce company's plan to become the CBD market leader. Do Not Sell My Personal Information, Your California Privacy Rights A report from Protocol broke the news, noting the company will stop taking orders and halt its business operations. In July of 2018, Brandless announced SoftBank-backed Brandless has reportedly shut down operations, according to an article by Protocol’s Biz Carson. Share on twitter. Terms of Use The company's remaining 10 employees will work to fulfill its last customer orders and consider acquisition offers, according to Protocol, which first reported the news that Brandless would be shutting down. Pinterest. A spokeswoman for the Vision Fund did not immediately respond to a request for comment Tuesday morning. Twitter . The company will be laying off 70 people, or nearly 90% of its staff, according to a company spokesperson. Brandless is back, sort of. Brandless, the SoftBank-backed e-commerce startup that originally sold all of its products for $3, confirmed yesterday that it will shut down. Brandless will stop taking orders and cut about 70 … Brandless, a San Francisco-based e-commerce company that made and sold an assortment of "cruelty-free" products in beauty and personal care, household, baby and pet categories, has shut its doors less than three years after officially opening them in July 2017. Share on facebook . Pinterest. February 10, 2020. Brandless Shuts Down: A Victim Of Outsized Expectations. This news follows a tumultuous few years for the once promising start-up that offered high quality, “brandless” goods for a single fixed price point of $3. 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