Grabango, a startup in cashierless checkout technology, is shutting down due to a lack of funding. Founded in 2016 by Pandora cofounder Will Glaser, Grabango raised over $73 million but struggled in the current market. The company competed with Amazon's Just Walk Out system and partnered with retailers like Aldi, 7-Eleven, and Circle K. The startup employed around 100 people and had previously aimed for a multibillion-dollar IPO.
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00:00It's Benzinga, and here's what's on the block.
00:02Grab & Go, a startup in cashier-less checkout technology, is shutting down due to a lack
00:07of funding.
00:08Founded in 2016 by Pandora co-founder Will Glazer, Grab & Go raised over $73 million
00:14but struggled in the current market.
00:16The company competed with Amazon's JustWalkout system and had partnerships with retailers
00:21like Aldi, 7-Eleven, and Circle K. The startup employed around 100 people and had previously
00:26aimed for a multi-billion dollar IPO.
00:28For all things money, visit Benzinga.com.