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http://archive.md/PJ8Qr
CEO Alex Garden has restricted communication between his leadership team and SoftBank's investment team and other outside investors. Some sources speculated that Garden was trying to retain control of the negotiations due to concerns that SoftBank might try to make him step aside as part of additional funding.
I find it surprising that a service that delivers better pizza than Domino's/Papa John's, at a lower price, in less than half the time, to college campuses would not be popular.
Perhaps the Zume name didn't help or maybe their promotion was poor. Or maybe they needed a better pizza app. ;-)
WOW... $300 mil to deliver pizza. Also wasn't there a company on SV that PP bought that had a similar idea?
IIRC their business model was "buy pizza from Domino's - repackage it - lose money" which at least explains its failure. As usual the show is much more sensible than reality.
Can at this point SoftBank Vision 1 fund chance to be even a modest success? A lot of failures at late stage. Most of VCs can afford many failures as they invest early and one home run can make the fund, though investing late at high valuation limit the payoff.