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August 22, 2005

MaxDelivery and the $1 million shoestring

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Posted by Dominic Basulto

Last week, the New York Post had a brief profile of New York-based MaxDelivery, the latest reincarnation of Internet delivery service Kozmo.com. Obviously, there is demand across the city for Internet delivery services -- the only problem is finding an appropriate business model.

It's kinda like what happened with Internet groceries. Webvan and others of its ilk flamed out after running through tens of millions of VC funding, but now it looks like FreshDirect has found a business model that works in New York City.

Red Herring follows up on the New York Post's story about MaxDelivery, noting that "MaxDelivery started on a $1-million shoestring, culled from Mr. Siragusa’s savings and money he raised from family and friends."

A $1 million shoestring? Damn, those are expensive shoes.

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