this post was submitted on 13 Jun 2023
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Technology

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

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[–] [email protected] 11 points 1 year ago (3 children)

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.

[–] [email protected] 4 points 1 year ago (1 children)

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.

[–] [email protected] 4 points 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.

[–] [email protected] 2 points 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