Jun 6, 2017

Shipt raises $40 million to deliver more groceries

Courtesy of Shipt

On-demand delivery is a tough business with thin margins, but entrepreneurs and investors continue to pour resources into it. Shipt, an on-demand grocery delivery startup originally from Alabama, has raised $40 million in new funding from Greycroft Partners, e.ventures, and Harbert Venture Partners. It plans to be in a total of 100 U.S. markets within the next year.

Competition: Shipt founder and CEO Bill Smith says he's not worried about rival Instacart, even though it has raised hundreds of millions of dollars. For one, most of the 50 markets where Shipt operates are in the South and the Midwest—only partially overlapping with Instacart. It also requires that customers pay an annual membership fee ($99), something Instacart offers as an option for more frequent customers. Shipt's average customer is a 35-year-old mom with two kids who orders every 10 days—another reason it's currently staying away from markets like San Francisco where users are mostly single professionals.

CPG craze: One way Shipt hopes to make money is by charging fees to consumer packaged goods brands in exchange for promoting their products in its app. The approach also is used by other delivery services like Instacart, Postmates, and Rappi (in Latin America).

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What the coronavirus means for Trump's presidency

Photo Illustration: Eniola Odetunde/Axios. Photo: Chris Graythen/Getty Images

A poor response to the coronavirus could be politically devastating for President Trump, and so far his administration has given the strong impression that it’s still scrambling as the risk of a pandemic mounts.

Why it matters: There’s only so much any president can do to stop a virus from spreading, and for now the coronavirus is still very much under control within the U.S. But if the disease get worse in the months ahead, and if the administration seems to be caught off guard, that spells trouble for public confidence in Trump.

Go deeperArrow10 mins ago - Health

Coronavirus updates: New global case numbers surpass China's

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus is now affecting every continent but Antarctica and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

The big picture: COVID-19 has killed more than 2,800 people and infected over 82,000 others in some 50 countries and territories. As Denmark and Estonia reported their first cases Thursday, Scott Morrison, prime minister of Australia — which has 23 confirmed infections — told a news conference, "The risk of a global pandemic is very much upon us."

Go deeperArrowUpdated 2 hours ago - Health

Mass shooting in Milwaukee: What we know

Milwaukee Mayor Tom Barrett in 2012. Photo: John Gress/Corbis via Getty Images

Six people died in a shooting at the Molson Coors Brewing Company in Milwaukee Molson Coors on Wednesday, including the 51-year-old gunman, Mayor Tom Barrett told reporters at an evening press conference with local police.

Details: All of the victims worked at the brewery complex, as did the shooter who died of "an apparent self-inflicted gunshot wound, police confirmed in a statement late Wednesday.

Go deeperArrowUpdated 4 hours ago - Politics & Policy