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Could they operate as small business and/or flip the company as a running small business? I imagine home cleaning is sort of loyalty space, where they must have
by arihant 11y ago
Could they operate as small business and/or flip the company as a running small business? I imagine home cleaning is sort of loyalty space, where they must have a good number of regulars?
It's also interesting that they are managing a workforce of around a 1000 cleaners, and they burnt through $40 MM. That's the amount of seed Elon Musk needed for SpaceX.
- loganu 11y agoI'm assuming they folded before burning $40m. IMO, it would be hard to go through that much money when you have (hundreds of?) thousands of customers and (should have) a decent profit margin. I'm more inclined to believe that HomeJoy was sold to investors as the beginning of a platform, and when it failed to hit traction, or growth potential seemed to stall, the investors decided to cut their losses and move on.
- dylanjermiah 11y agoElon put 100mm into SpaceX. Plus a few venture rounds prior to their Falcon launch so 100mm +