Last year, residents of Sydney’s CBD stumbled on a Corvette wrapped in the logos of the fast delivery start-up MilkRun. It was part of a marketing stunt to give employees or customers of the fledgling business $2000 in cash if they plastered their vehicles with the logo.
All eyes are now on Mr Milham’s MilkRun, which according to sources has been weighing its options to keep the fast delivery dream alive. Many of the biggest VC firms, which poured billions into the sector globally, have soured on the concept. “This is incorrect. We haven’t done any layoffs,” he said. “We don’t comment on investment discussions/cash burn unless we are doing a major funding round, which we are not looking to do at the moment.”
MilkRun founder Dany Milham has a big decision to make about the future of his start-up as funding markets tighten.It was a business model being used by Turkey’s Getir and US-based Gopuff, which flourished in densely populated cities and college towns. Those young companies signed massive funding rounds of hundreds of millions of dollars, with overblown plans to disrupt big grocers, delivery companies and even Amazon.