Startup Juicero shutters operations, seeks a buyer

Juicero, the vegetable and fruit juice startup that raised more than $100 million from investors, said it will suspend sales, offer refunds to customers and search for a buyer for the company.

The decision to shut down its business comes four months after a Bloomberg News report that the company’s juice packets could be squeezed by hand and didn’t require Juicero’s machine, which cost $400. The machine had previously sold for $700, before the price cut.

Juicero announced the decision in a statement posted on its website. “It became clear that creating an effective manufacturing and distribution system for a nationwide customer