Honestly quite shocking news given their success, but I guess it’s what happens when you chase tech company profits.

  • Another Person
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    241 year ago

    Oh look. Another successful company that couldn’t manage their own success. Capitalism is going great.

    • Beej Jorgensen
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      121 year ago

      Sure looks like Yet Another Case of Outside Investors Ruining It.

    • samick1
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      91 year ago

      It’s not how they managed success, it’s that they ran out of it. Making a successful niche kitchen appliance is not a business, it’s one of many things that a successful niche kitchen appliance business does.

      Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)

      • Deedasmi
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        51 year ago

        I have an instant pot air fryer. They definitely made some attempts. But I imagine they kept trying to be the big mover and shaker and that’s expensive compared to just building a solid trustworthy brand.

      • Another Person
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        21 year ago

        undefined> Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)

        Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.

        • samick1
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          21 year ago

          I’m undefined? 😟

          Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.

          Semantics I guess. Di-worse-ification isn’t always the answer. They had a large product lineup, which was probably more expensive for them than it needed to be. They went under because they failed to fortify their balance sheet… rates went up and their debt crushed them.

          Capitalism works fine just turning a profit while plenty of companies die chasing growth. It’s just part of it.

          • Another Person
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            51 year ago

            For some reason the software inserted the “undefined” when I tried to quote your post. Growing pains of a new site I guess.

            • samick1
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              21 year ago

              🤣 I didn’t think you were trying to tell me something, I figured the Lemmy code goofed somewhere.

                • samick1
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                  11 year ago

                  undefined> it always pops up if you want to quote a selection. see?

                  Ah okay. I’m in the habit of copy-pasting after the > manually so I hadn’t noticed that.

  • @SkepticElliptic@beehaw.org
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    131 year ago

    That’s problem with being a one hit wonder. They had a decent product that became popular. Unfortunately there’s only so many people who are in the market for a countertop pressure cooker.

    Although there’s plenty of other companies in the space like KitchenAid that have survived over the years.

    • Yea, true but there are plenty of companies that only make one product really well. I feel like it is more because they took a bunch of VC funding and had large pressures to grow their employee count that made it so unsustainable. That plus the extreme amount of competition that they have in the space.

      • @SkepticElliptic@beehaw.org
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        41 year ago

        I’ve definitely noticed the cheap imitations of their product. I’ve even spotted one or two on the shelves at goodwill. I don’t really see those as competition. There’s plenty of other brands of stand mixers out there, yet KitchenAid is still considered a solid buy.

        • @jmp242@sopuli.xyz
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          11 year ago

          Generally only by people who don’t know any better. Anyone who is deep into stand mixers will point at Bosch or Ankarsum.

    • @geissi@feddit.de
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      11 year ago

      there’s only so many people who are in the market for a countertop pressure cooker

      The article mentions that

      in 2021 it canceled $100 million worth of orders from retailers

      So it doesn’t sound like they just ran out of customers

  • Beej Jorgensen
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    61 year ago

    Flowbee still sells 90,000 units a year and has been around since the 80s. Probably a lesson in there for Instant, I think.

      • @Cipher@beehaw.org
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        21 year ago

        I’ve been using mine since 2021, and despite the jokes my friends make, no one can actually tell the difference in my hair cut. It does help to have someone that can trim your neck line and ears though

        • @InsertCocktails@beehaw.org
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          11 year ago

          I’d thought about getting one. Had one in the 90s. If you don’t have a hair cut that needs a lot of attention then yeah, nobody notices. Clean, easy, no barber.