Munchery cuts workforce, will part ways with founders
January 12, 2017
Munchery, a food delivery startup backed by Sherpa Capital and Menlo Ventures, has recently laid off 30 employees and will part ways with its founders at the end of the month, according to Bloomberg. The cuts reportedly hit the company's culinary, R&D, photography and business development units.
Founded by Tri Tran and Conrad Chu in 2010, Munchery has raised about $120 million in disclosed funding. The San Francisco-based company was valued at over $250 million with a roughly $85 million Series C round in May 2015. Bloomberg reported last October that Munchery was having difficulty raising new funds at a sub $200-million valuation.