Valet parking startup Luxe latest casualty of on-demand bust – Business Insider

Luxe got the customer experience largely right, putting valets where people congregated, but they did not control the commodity pricing that mattered to it: Parking spaces.

[T]he demise last week of valet parking company Luxe, which followed the collapse of three of its competitors, shows the brutal economics of on-demand services and raises questions about the viability of the concept.Luxe raised $75 million and reached a valuation of about $160 million as investors competed to back on-demand startups in everything from restaurant take-out to health care and home repair.

Source: Valet parking startup Luxe latest casualty of on-demand bust – Business Insider

About Mitch Ratcliffe

Mitch Ratcliffe is a veteran entrepreneur, journalist and business model hacker. He operates this site, which is a collection of the blogs he’s published over the years, as well as an archive of his professional publishing record. As always, this is a work in progress. Such is life.

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