Instant Pot's Parent Company Files for Bankruptcy
Instant Pot's Parent Company Files for Bankruptcy
Or trying to, the sear function is still lackluster.
Honestly quite shocking news given their success, but I guess it's what happens when you chase tech company profits.
That's problem with being a one hit wonder. They had a decent product that became popular. Unfortunately there's only so many people who are in the market for a countertop pressure cooker.
Although there's plenty of other companies in the space like KitchenAid that have survived over the years.
Permanently Deleted
Oh look. Another successful company that couldn't manage their own success. Capitalism is going great.
It's not how they managed success, it's that they ran out of it. Making a successful niche kitchen appliance is not a business, it's one of many things that a successful niche kitchen appliance business does.
Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)
undefined> Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)
Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.