Coles

• MilkRun’s co-founder and chief executive Dany Milham had already found success with fast-delivering mattress company Koala.
• Less than a year ago he was confidently predicting MilkRun would be bigger than Coles or Woolworths within ten years.
• It has joined a lengthening list of platform delivery companies that have done their dash in the Australian market.

Could Milkrun ever make money?

• Milkrun was, obviously, not profitable.
• For example, Amazon, founded in 1994, didn’t have its first profitable year until 2003.
• How could MilkRun ever scale to become profitable?
• MilkRun commenced during the pandemic – the perfect time for “last mile” deliveries.

Costs would have gone up anyway

• Even without the unexpected economic hit of inflation over the past year, MilkRun faced escalating costs.
• Operating in more suburban areas, with longer distances and more dispersed customers, would compound “last mile” delivery costs.

Narrow path to profitability

• But, on present unit economics, even in ideal conditions, this was a tall ask in a post-pandemic world.
• They will back an idea early on, when a path to profitability is unclear.
• But they will not keep pumping in more money if a path does not materialise.

• PASAY CITY, Philippines, Oct. 20, 2022 /PRNewswire/ -- SM Markets is focusing its strategic expansion to help more Filipinos in the regions.
• As of October 2022, SM Markets has a total store count of 330 all over the Philippines.
• Already, SM Markets has seen an improvement in sales for fresh products, snacks, beverages and other school-related commodities as of year to date.
• SM Markets is the food retailing arm of the SM Group and serves as the mother brand of SM Supermarket, Savemore Market, and SM Hypermarket, answering every family's essential needs.

• The research of 2,500 Australian consumers finds almost half 48% of Australians buy least some of their groceries online, with 10% now ordering most or all of their groceries via the internet.
• The research, conducted by Spryker in partnership with market research firm Appinio, surveyed consumers from across Australia on their experiences and opinions of grocery shopping.
• With the Australian grocery market currently valued at $125bn , there is substantial opportunity for retailers offering services in online grocery shopping.
• An equivalent Spryker survey on American online groceries from December 2021 found only 55% of US shoppers thought in-store shopping was a pleasant experience.

• DENVER and SYDNEY, Australia, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Lumachain , an end-to-end solution for food supply chains, today announced it has raised US$19.5 million in Series A funding, led by Bessemer Venture Partners with participation from existing investor Main Sequence .
• Were excited to partner with Lumachain to support their continued expansion, as they transform the global meat industry, said Tess Hatch, partner at Bessemer Venture Partners.
• Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies.
• Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Boston, Beijing and Bangalore.