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SpoonRocket on demand food delivery Startup come to an end

Spoon Rocket was founded in 2013 was one of its kinds on demand food delivery app. The startup raised around $13.5 million and just after two years of functioning the startup came to an end. It raised funding’s from different venture capitalist like General Catalyst, Funders Club and Foundation Capital. SpoonRocket offer affordable dishes under a budget price.

The food delivery promise was around 10 minutes in bay area location. The startup meltdown due to competition and was not able to raise funds. It declared its shutdown recently that signifies the rising pressure on startups. Due to boom in startup a few competitors who would offer better delivery service with price advantage cause such startup to fall back in less time.

This is not just related to a single startup but there are ample of them around Silicon Valley who are facing downfall. The startup’s do come with lot of unique ideas with these the margin to survive is getting narrow. SpoonRock one of the food delivery services offers foods that were prepared by them. A few expensive food items were listed under $10 in the menu. Sprig a similar on-demand food delivery has taken over the market share of SpoonRock causing a decline in the interest to raise fund and perform further. It looks startups will not have to work on plan b to keep their stake assured in future funding process. Startup meltdown is the most common news we will be covering in the coming time, due to impact of rising competition.

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