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Good Eggs raises $50 million, led by Benchmark

Dan Primack, author of Pro Rata

Photo by Gary Friedman/Los Angeles Times via Getty Images

Good Eggs, a San Francisco-based online grocery for fresh products, has raised $50 million in new VC funding. Benchmark Capital led, with partner Bill Gurley joining the company's board of directors.

Why it's a big deal: Because this one of few startups that seems to have come out the other side of a massive restructuring, which included a financial recap, layoffs, market closures, top management changes and a realization that Good Eggs is a food biz enabled by tech rather than a tech company involved with food.

"We spent the first eight months of 2016 solely focused on bedrock foundation, so the board didn't have a single conversation about growth," CEO Bentley Hall tells Axios.

He adds that the company plans to open another Bay Area facility and soon expand to the Los Angeles market. Overall, however, Hall doesn't necessarily foresee the company moving beyond the West Coast

  • Other investors: Index Ventures, Obvious Ventures, S2G Ventures, DNS Capital, Uprising and Collaborative Fund.
  • This round means that both Benchmark and Sequoia Capital (via Instacart) have returned to the sector site of their most public failure (Webvan).

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The big picture: Companies like Facebook and Twitter stepped up enforcement and their conversations with law enforcement ahead of Inauguration Day. But they'll be tested as the threat rises that impatient lone-wolf attackers will lash out.

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The pandemic could be worsening childhood obesity

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The 10-month long school closures and the coronavirus pandemic are expected to have a big impact on childhood obesity rates.

Why it matters: About one in five children are obese in the U.S. — an all-time high — with worsening obesity rates across income and racial and ethnic groups, data from the National Health and Nutrition Examination Survey show.

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Biden's Russia challenge

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The Biden administration has already proposed a five-year extension of the last treaty constraining the U.S. and Russian nuclear arsenals, announced an urgent investigation into a massive Russia-linked cyberattack, and demanded the release of Russia’s leading opposition figure, Alexey Navalny.

Why it matters: Those three steps in Biden's first week underscore the challenge he faces from Vladimir Putin — an authoritarian intent on weakening the U.S. and its alliances, with whom he’ll nonetheless have to engage on critical issues.

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