I’m profoundly disappointed to announce that Wantful has suspended operations.
We accomplished a great many things in our 18 months in market: an enormously well-received gift offering; widely-lauded experiences for web, tablet, print, and in-store; a network of 600 vendors creating the most exceptional products around, with a robust and streamlined logistics architecture to support them; an assortment and an approach to content that inspired and engaged; and the brilliant and tireless team responsible for it all.
What we did not accomplish yet is the kind of highly accelerated growth required to secure later-stage venture capital, despite the enduring enthusiasm around what we’ve built.
The coming holiday season was shaping up to be pivotal for us, but the loss last week of a planned follow-on investment from a strategic partner leaves us little time to secure an alternate source of capital, or to pursue the other opportunities on the table.
Our top priority right now is exploring all our options in an orderly fashion—and in taking care of our customers and the team—but if I can be of assistance please reach out to me personally.
Whatever the outcome, we’re deeply grateful for the support and encouragement we’ve received from our customers, friends, investors, and partners through these past two years, and honored to have had the opportunity.
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- artful-cuisine said: My best wishes and support to you and your team, John!
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