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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

tina sharkey brandless

  • 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 >>>

    Source:: BusinessInsider.Com