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Mark Humphery-Jenner, Associate Professor of Finance, UNSW Sydney

MilkRun's demise is another nail in the 10-minute grocery-delivery business model

Milkrun Atlassian Mike CannonBrookes Australia Deliveroo Sydney
shutterstoc Shutterstock

Sydney-based startup MilkRun made a big splash with its promise to deliver groceries within ten minutes, raising more than A$85 million from some of the biggest names in Australian venture capital, including Atlassian billionare Mike Cannon-Brookes.

MilkRun’s co-founder and chief executive Dany Milham had already found success with fast-delivering mattress company Koala. Less than a year ago he was confidently predicting MilkRun would be bigger than Coles or Woolworths within ten years.

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