Vitamin and Supplement Company Ceases Operations
- Care/of is shutting down due to lack of funding
- No new orders accepted and all subscriptions canceled
- 143 employees laid off in Brooklyn headquarters
- Founded in 2016 by Craig Elbert and Akash Shah
Care/of, a vitamin and supplement subscription service, has announced its closure due to insufficient funding. The company is no longer accepting new orders and has canceled all existing subscriptions, effective immediately. It also laid off all 143 employees at its Brooklyn headquarters. Founded in 2016 by Craig Elbert and Akash Shah, Care/of offered personalized recommendations based on customer questionnaires and expanded to retailers like Target, Amazon, and Sam’s Club over the years.
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Care/of shutting down, its funding issues, and the layoffs. It also mentions the company’s history and partnerships with retailers like Target, Amazon, and Sam’s Club. However, it includes a brief mention of unrelated companies Foxtrot Market and Outdoor Voices, which may be seen as slightly tangential to the main topic.
Noise Level: 5
Noise Justification: The article provides mostly irrelevant and repetitive information about the closure of Care/of, with some mention of related companies facing similar situations. It lacks analysis or exploration of long-term trends or possibilities, accountability, scientific rigor, intellectual honesty, staying on topic, evidence, data, examples, or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Care/of and related companies like Target, Amazon, Sam’s Club, and potentially other investors
Financial Rating Justification: The article discusses the closure of Care/of, a company in the vitamin and supplement industry, which impacts its own financial situation as well as its partnerships with major retailers like Target, Amazon, and Sam’s Club. It also mentions the potential impact on investors and other related companies.
Presence Of Extreme Event: b
Nature Of Extreme Event: Financial Crisis
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: Care/of is shutting down due to funding loss, resulting in the cancellation of subscriptions and layoffs. While it has a negative impact on employees and customers, it’s not as severe as other financial crises.
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