The RealReal, an online luxury consignment store where customers buy and sell secondhand luxury goods, on Monday reported a 10% year over year drop in fourth quarter revenue. Its net loss more than doubled to $53 million in the same period. The result continues a trend from the second and third quarters of 2020. While the pandemic spawned a boom in online shopping, which led to revenue spikes...
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SoftBank’s Onetime Pizza-Robot Darling Shuts Down
Zume, which raised $375 million from SoftBank to automate pizza-making with robots before switching to developing sustainable packaging, has shut down. The company is insolvent and has retained restructuring firm Sherwood Partners to liquidate the assets for the benefit of the creditors, an alternative to bankruptcy, according to Martin Pichinson, Sherwood Partners’ cofounder. It ceased...
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