Numlock News: February 1, 2022 • Internet…

By Walt Hickey Instant In New York, there are no fewer than six different startups — Gorillas, Jokr, Getir, Buyk, Fridge No More, Gopuff — vying to seize hegemony over an instant delivery market that they really want to believe exists. The economics of their business are borderline obscene: for Fridge No More, the average order was $33, but after the cost of goods, payments, packaging, delivery and warehousing, they lose $3.30 on every order, and that doesn’t even factor in marketing costs which in a town like New York can be murderous. The company spends $70 on advertising to win the average customer, and the average gain on that investment is…

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