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The Pitch cover image

#132 The Exit: Selling Shipt for $550 Million

The Pitch

NOTE

Pitching a Unique Grocery Delivery Model to VCs

The pitch to VCs involved offering two-hour grocery delivery from favorite stores through a membership model with an annual fee of $99. The key differentiators were the upfront membership requirement and having dedicated mom shoppers who provided exceptional customer service. The pitch emphasized being different from companies like Instacart by treating workers well and focusing on providing a high-quality service. The simplicity of the pitch resonated with investors, leading to successful funding rounds with Graycroft eventually participating in the Series A funding.

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