SoftBank hasn’t paid e-commerce startup Brandless $100 million of its investment, and there are conflicting stories about what’s going on, according to a report
|06/26/2019||Posted by BusinessMediaguide.Com under General World News||
- In March, Tina Sharkey stepped down as CEO of Brandless, the direct-to-consumer retailer of “unbranded” household items. Brandless recently brought in former Walmart CEO John Rittenhouse to replace Sharkey.
- New reporting from The Information reveals the move was partly a response to tension with the company’s largest investor SoftBank, which wanted Brandless to turn a profit.
- SoftBank invested $200 million in Brandless in 2018 through its Vision Fund — a sum that would be paid out in installments.
- So far, Brandless has only received one of these installments, and a person with direct knowledge of the matter told The Information read more >>>