Wednesday, August 22, 2018

Chasing Amazon, grocers stock up on startups

Boston Business Journal
Chieh Huang spent years trying to get grocery industry executives excited about the technology at Boxed, his grocery e-commerce company. He regularly gave tours of the company’s state-of-the-art fulfillment centers, featuring a custom software system and roving bands of autonomous carts.

But interest in Boxed, which is not profitable and crossed $100 million in revenue in 2016, was lukewarm. “They were like, ‘What a cute lemonade stand,'” Huang said.

That changed a year ago when Amazon bought Whole Foods Market. . . . more