Throwback Thursday: Ah, Juicero – Squeezegate
Throwback Thursday: Dive into the Juicero chronicle—a Silicon Valley fable of ambition, innovation, and a reality check. #TBT to when a high-tech juicer promised a health revolution, only to be squeezed by its own narrative. Let’s revisit the story that had everyone questioning the true value of “smart” technology.
Founder and CEO
Doug Evans: At the helm of Juicero stood Doug Evans, a wellness enthusiast with a proven track record in the health industry, having previously nurtured Organic Avenue. His latest venture, Juicero, was born from a vision to democratize health, making fresh, nutritious juice an easy, accessible option for everyone.
What problem did it set out to solve:
Timeline of events:
Early-stage Seed funding soon blossomed into more substantial Series A and B rounds. By the end, Juicero had raised an astounding $120 million, reaching a valuation that towered over $400 million. Its investor ensemble was illustrious, boasting names like Kleiner Perkins Caufield & Byers, Google Ventures, Artis Ventures, Campbell Soup Company, Western Technology Investment, First Beverage Group, and DBL Partners. Each investor brought more than just capital—they brought credibility and a network, fueling Juicero’s rapid ascent.
What worked and what didn't:
What Didn’t Work:
Despite its early successes, Juicero’s narrative took a turn for the worse. The discovery that the juice packs could be hand-squeezed bypassed the need for a complex, expensive juicer. This revelation not only undermined the product’s value but also questioned the entire premise of the company’s existence.
The "Squeezegate" Saga:
Conclusion and takeaway for Startup founders: