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Old Posted May 26, 2023, 4:05 PM
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summersm343 summersm343 is offline
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Join Date: Oct 2011
Location: Philadelphia
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Sad to see, but looks like most employees are remote work anywyas

Greater Philadelphia loses a unicorn as Misfits Market moves its headquarters to Maryland

Quote:
The Philadelphia area is losing a unicorn as Misfits Market has relocated its headquarters to Maryland after trimming a large chunk of its workforce and closing its South Jersey facility.

The Philadelphia-born grocery delivery startup was founded by University of Pennsylvania alum Abhi Ramesh in 2018 and later moved outside the city to Delanco, New Jersey. It reached a $2 billion valuation in 2021 and acquired one of its main competitors in September. Now, just months after undergoing a companywide consolidation that saw it lay off nearly 450 New Jersey workers, the company's official headquarters have shifted to its distribution site outside of Baltimore. Most of its corporate employees work remotely.

"While Abhi still calls Philadelphia home, the company's HQ has shifted to our facility in Hanover, Maryland. As a company, we are a fully distributed team and don't have any official offices outside our five warehouse facilities," said Ken Shuman, a spokesperson for Misfits Market.

Misfits Market's move drops it off of a rather short list of startup unicorns in the Philadelphia area, a list that includes Gopuff, dbt Labs and Phenom. A unicorn is commonly defined as a privately held startup with a valuation over $1 billion.
Article behind paywall here:
https://www.bizjournals.com/philadel...dquarters.html
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