A dramatic shakeout is under way in the race to corner the emerging market for fast grocery deliveries, with two venture capital backed start-ups collapsing amid valuation pressures and high monthly cash burn rates.
Send, which promised deliveries within 10 minutes, was placed in administration on Tuesday, while Quicko has also shut down its operations. Unlike its competitors, Quicko promised deliveries within two hours, but had thousands more products on offer.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
