|Juicero Built A $400 Gadget That No One Needs. That's Great News For The Company
Technology Twitter is very excited today by the news that Juicero -- a $400 juice-making device built by a company that has raised $120 million, has a problem. Apparently you can squeeze the juice from the company's juice packs, which run $5-8 each, with your bare hands! A Bloomberg report this morning suggests investors in the company are concerned that consumers might be able to buy $2000 a year worth of juice from the company without spending $400 on a machine that just a year ago cost $700. Wait, what?
Let's break this down for the uninitiated. First, you should know that Juicero is backed by some serious tech investors despite not being an especially technology heavy company. Kleiner Perkins, the legendary venture firm, and Alphabet, Google's parent, were part of the prodigious fundraising Juicero accomplished even before launching a product. The appeal was doubtless a combination of the recurring revenue nature of the business -- buy the machine once, buy juice for a long time after -- and the little splashes of technology tossed in.
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This article originally appeared on Forbes.com. You'll find a link to the original after the post.
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