"European restaurant delivery start-up Take-Eat-Easy ceases trading as it tries to find a buyer The restaurant food deli

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"European restaurant delivery start-up Take-Eat-Easy
ceases trading as it tries to find a buyer
The restaurant food delivery wars in Europe were always going to
get messy and the latest casualty is Take Eat Easy. Despite
celebrating its 1 millionth order last week, the
Brussels-headquartered startup has ceased trading and will file for
“juridical restructuring” after it failed to raise a much-needed
Series C round and has run out of money.
And although there’s still hope that the company will find
a buyer, it hasn’t come soon enough to continue operating in what
has become an incredibly competitive — read: cash intensive —
market, with heavily funded competitors that include London-based
Deliveroo, Delivery Hero’s Foodora, Uber’s UberEATs,
and potentially Amazon, to name but a few. Competition that
had a deadly impact on Take Eat Easy’s ability to raise further
funding.
Take Eat Easy co-founder and CEO Adrien Roose tells me that the
company began raising its Series C round in October last year, and
that by the following March the startup had been turned down
by 114 VC funds (yes, you read that correctly!)."
The news article above appeared on the Tech Crunch website in
2016. This story clearly illustrates that VC investing
is risky.
How problematic is failure in the portfolio of a venture capital
firm? As a general question, what fundamental mechanisms or
strategies do early-stage venture capital investors use to deal
with uncertainty and ultimately deliver returns to their
investors?