Honestly quite shocking news given their success, but I guess it’s what happens when you chase tech company profits.

  • SkepticElliptic@beehaw.org
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    1 year ago

    That’s problem with being a one hit wonder. They had a decent product that became popular. Unfortunately there’s only so many people who are in the market for a countertop pressure cooker.

    Although there’s plenty of other companies in the space like KitchenAid that have survived over the years.

    • G0ldenSp00n@lemmy.jacaranda.clubOP
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      1 year ago

      Yea, true but there are plenty of companies that only make one product really well. I feel like it is more because they took a bunch of VC funding and had large pressures to grow their employee count that made it so unsustainable. That plus the extreme amount of competition that they have in the space.

      • SkepticElliptic@beehaw.org
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        1 year ago

        I’ve definitely noticed the cheap imitations of their product. I’ve even spotted one or two on the shelves at goodwill. I don’t really see those as competition. There’s plenty of other brands of stand mixers out there, yet KitchenAid is still considered a solid buy.

    • geissi@feddit.de
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      1 year ago

      there’s only so many people who are in the market for a countertop pressure cooker

      The article mentions that

      in 2021 it canceled $100 million worth of orders from retailers

      So it doesn’t sound like they just ran out of customers