Take Eat Easy, a Brussels-based food-delivery startup, has announced it will be shutting down, citing difficulties securing Series C investment. According to a blog post published by one of the founders, the company began the process of pitching investors for the round in October 2015, but after 114 rejections and one term sheet that fell through, they had no choice but to file for judicial restructuring, a process analogous to bankruptcy.
A familiar story for startups. In this case, I think the market is saturated with wanna-bes and no dominant provider has emerged. No one is great at customer engagement and service, yet. When a company like Instacart starts reporting 300% repeat customer growth, then the market will start to consolidate. For now, fractional solutions are starting to die naturally.