Why Sun Basket Is More Like Stitch Fix Than Blue Apron
The troubles Blue Apron's faced since going public last year has raised one big question for other meal-kit delivery start-ups in the ever-more-crowded space: what makes you stand out?
But Sun Basket's CEO doesn't think that question applies to his company.
“For us, it’s a fundamentally very different business,” Adam Zbar told Cheddar.
While Sun Basket does deliver packaged, pre-portioned meal-prep kits, it specializes on specific diets from Paleo to Mediterranean to gluten-free. Zbar says that gives his customers a more curated experience, more akin [Stitch Fix](https://cheddar.com/videos/how-stitch-fix-navigated-a-male-dominated-vc-landscape), the online styling subscription service.
Grocery shopping is harder for people sticking to strict diets than it is for those who don't have restrictions, explained Zbar. He says the convenience provided by Sun Basket makes it less likely customers abandon their subscriptions.
“Our retention rates are much higher than other players in the field, and the reason why is that we focused on a need.”
The company’s business model seems to resonate with investors too. Earlier this year, Sun Basket raised another [$57.8 million](https://www.prnewswire.com/news-releases/sun-basket-raises-578-million-in-new-funding-led-by-august-capital-300588291.html) in funding.
For full interview, [click here](https://cheddar.com/videos/healthy-cooking-made-easy).
Michelle Bond, CEO of the Association for Digital Asset Markets, joins Closing Bell, where she breaks down the Responsible Financial Innovation Act, which would not only establish a regulatory structure for digital assets, but hand over crypto oversight to the CFTC instead of the SEC.
Caleb Silver, Editor-in-Chief at Investopedia, joined Closing Bell to break down what Target's lowered forecast means for the retail industry ahead of Friday's CPI report.
Jim Corridore, Senior Insights Manager at Similarweb, joined Closing Bell to break down the competing offers from JetBlue and Frontier as both airlines look to join forces with Spirit Airlines.
Child care marketplace startup Kinside announced raising $12 million in a Series A round led by venture capitalists who are mothers themselves. The company aids parents searching for affordable child care easier by providing concierge support in a marketplace of verified professionals and helping them tap into flexible spending accounts (FSA) and other benefits. Founder and CEO Shadiah Sigala joined Cheddar News to talk about the fresh funds and the ongoing effects of the pandemic on the care of young children.
Apple revealed its plans for new IOS software, products, and more at its Worldwide Developers Conference. However, new features added to iMessage, including options to delete and edit already sent text messages, stole the show.
Hyatt Hotels released new data showing just how seriously consumers are looking at summer 2022 for revenge travel following previous disruptions from the pandemic. Joan Bottarini, CFO of the hotel chain, joined Cheddar News to break down the report. "We've got on the books a 15 percent increase on a global basis in demand over the summer months from June to August," she explained.