Singapore-based food delivery platform Gobble has shut down due to low profit margin and lack of positive cashflow, according to a LinkedIn post by the company’s co-founder, Domenico Tan.
The company’s profit margin and cashflow remained low despite having a high volume of sales. Tan also cited the sole reliance on B2C model as a cause for the shutdown and stated that the company will not be able to generate enough revenue just from Singapore to extend Series A funding.
