(credit: Frank Farm)
On Tuesday, San Francisco-based on-demand food delivery SpoonRocket told customers that it had closed its doors over the weekend. The company’s closure is one of the latest signs that there’s been a financial slowdown in Silicon Valley. The startup offered a short list of relatively inexpensive food options (under $10) and could deliver them in under 10 minutes in many parts of the Bay Area.
"Despite our efforts, unfortunately, the downturn of market and lack of interest in on-demand companies like SpoonRocket from the venture community has forced us to shut down prematurely before we are able to grow into a viable business," SpoonRocket wrote.
TechCrunch reported that the company had raised $13.5 million in venture capital through Y Combinator and other angel funds, as well as some Series A funding.
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