0 Shares EmailFacebookTwitterLinkedInSoftBank-backed Brandless has reportedly shut down operations, according to an article by Protocol’s Biz Carson.

SoftBank Vision Fund led its last funding round, a $240 million Series C, which valued the company at $500 million, according to Crunchbase.

The news that Brandless has shuttered is not entirely shocking, considering that last June, it got a new CEO amidst “turmoil” within the company, according to TechCrunch.

Looks like Brandless’ vision of $3 home goods just couldn’t keep up with the steep competition from rivals like Amazon.

In fact, SoftBank’s heavy-handed check-writing is leading investors and startups alike to rethink sky-high valuations in favor of a path to profitability. | To read full story, visit https://startuparound.com/read/1581364806.5591826/SoftBank’s-Latest-Setback:-Brandless-Shuts-Down-After-Raising-$292.5M?ref=audio_experience