Soylent, the as soon as high-flying Los Angeles-based meal alternative startup that has raised $72.4 million in financing from buyers together with Google Ventures, Lerer Hippeau and Andreessen Horowitz, has shaken up its govt group.
This week, the corporate introduced in a blog post that the corporate’s chief monetary officer, Demir Vangelov, could be taking excessive spot on the firm and present chief govt Bryan Crowley could be stepping down.
“We want to thank Bryan Crowley for his immense contributions to the corporate,” wrote Soylent chairman and founder Rob Rhinehart, in a statement.
Vangelov, who’s taking up from Crowley, beforehand served as an govt on the milk various firm Califia Meals and at Oberto Meals, so he is aware of shopper packaged manufacturers.
Crowley got here to the corporate with grand ambitions to revitalize the Soylent model and product line. The corporate had launched a line of snack bars to enrich its line of powders and drinks, whereas updating its drink line with a nootropic beverage containing caffeine and dietary supplements supposedly designed to spice up cognitive efficiency along with offering a meal alternative.
Soylent additionally arrange fancy digs in Los Angeles’ arts district and established a Meals Innovation Lab, which solely a yr in the past awarded $25,000 to some meals startups working there.
Now, solely a yr later, the Meals Innovation Lab is shuttered and Soylent has moved to a smaller workplace area. The corporate declined to touch upon the information or its new technique.
In some methods, Soylent could undergo from being a progenitor of an funding thesis which has handed it by. When the corporate launched in 2013, it was a reasonably novel concept to start out a brand new meals model, as Rhinehart notes within the weblog put up asserting the manager change:
Soylent began as a motion. In 2013, there was scarcely any innovation or consideration to one of many world’s most necessary product sectors: our meals. At present, modern meals firms are performing record-breaking IPOs, new retailers are elevating large development rounds, and meals, agriculture, and ingredient applied sciences are among the most disruptive startups within the ecosystem. However we nonetheless have numerous work to do to meet Soylent’s mission of diet for all.
At present we’re making some modifications on the firm. We’re renewing our dedication to being clear, genuine and science-driven, all whereas placing the client first. To do that we’re going to re-focus on our core merchandise. We can be bettering our present product line in addition to bringing some really modern concepts off the shelf and into the market, and we can be bettering our costs by specializing in high quality over amount in terms of distribution and advertising.