- Matt Salzberg was the CEO of meal kit startup Blue Apron.
- Material is led by partners Andy Salamon and Danielle David Parks.
- The Materials team plans to launch two new startups each year.
Matt Salzberg is the co-founder and CEO of meal kit startup Blue Apron. Along with Salzberg, Materials is headed by partners Andy Salomon (formerly General Partner of Atomic Labs who helped Him’s and Terminal) and Daniel David Parks (co-founder of Jane Strategy). The studio has been in operation for the past year and has just closed its first $ 25 million funds.
Salzberg told me that Material takes a very slow and cautious approach to establish a company. That means digging deeper into the industry, identifying opportunities, and hiring executives to set up a company.
The material startup plans to launch two startups on an annual basis
The Materials workforce plans to launch two new startups yearly. For probably the most half, Salzberg stated the concepts for these firms will “virtually all the time” originate inside Materials. As a result of the purpose is to start out the businesses “from scratch” quite than make seed investments. Startups launched from Materials embrace delivery-focused restaurant startup Kitchen to Kitchen (led by former FreshDirect CEO Dean Furbish), an Amazon model acquirer knew as Suma Manufacturers (led by former Dolls Kill COO Andrew Savage) and a gross sales startup that’s nonetheless in stealth mode.
New Materials startups could possibly be in any business, however, Salzberg stated the workforce is especially concerned with e-commerce (not too shocking, given his background and Salamon’s) and the way forward for work.
Blue Apron CEO Salzberg Steps Down
Blue Apron Holdings Inc. Chief Executive Officer and co-founder Matt Salzberg stepped down from the top role after the meal-kit company suffered production problems and projected slower sales growth. The company’s shares are down nearly 90 percent since its IPO as the meal-kit service provider has struggled to boost sagging sales and turn a profit.
Blue Apron went public at $10 per share, after originally hoping to go public between $15 and $17. Chief Financial Officer Brad Dickerson will replace Salzberg, who will continue as executive chairman, the New York-based company said Thursday in a statement. Blue Apron has begun a search for a new CFO. Shares rose 2 percent to $3.03 in extended trading.