Juicero, the much ridiculued $400 venture backed juice machine, finally shuts shop
Founded by Doug Evans, San Francisco-based Juicero had raised more than $118 million in funding from prominent VCs like Google Ventures and Kleiner Perkins. Carmelo Anthony also invested through his Melo7 Tech venture fund. Even The Campbell Soup Company threw money at it. Juicero started raising funding in 2013 and launched 16 months ago.
“After selling over a million Produce Packs, we must let you know that we are suspending the sale of the Juicero Press and Produce Packs immediately,” reads the company blog post. Juicero will also be giving people money back. “For the next 90 days, we are offering refunds for your purchase of the Juicero Press,” according to the note. The company was subject to mockery, particularly after a Bloomberg piece showed that the juice packets could be squeezed by hand and did not require a fancy machine. After that, Juicero promised to lower prices, but apparently found that to be too difficult. Now the startup is hoping to find a buyer.