**Care/of Cancels Subscriptions and Halts New Orders**
Care/of, a company that offers personalized subscription vitamin packs, announced that it will be canceling all subscriptions and will no longer accept new orders as of Monday, June 17. This decision comes after the company disclosed its plan to lay off all 143 employees by July 3 due to a “funding loss.” Care/of took to Instagram to thank its customers and express its regret about not having the funding to continue operating as usual.
Although the closure seems final, the company left the possibility of a revival open. In the Instagram post, Care/of stated that they are actively exploring options for the brand but currently have nothing definitive to communicate. They hope to share more information in the near future.
**Care/of’s Personalized Approach**
Founded in 2016 by Craig Elbert and Akash Shah, Care/of differentiated itself in the crowded vitamin market by offering a personalized approach. Customers were asked to complete a quiz about their lifestyle and values, which was then used to recommend a personalized mix of vitamins and supplements. This tailored approach aimed to provide customers with the specific nutrients they needed based on their individual needs and preferences.
**Investors and Bayer’s Acquisition**
Care/of attracted investments from notable firms such as Juxtapose, Goodwater Capital, Tusk Venture Partners, Bullish, and RRE Ventures. However, in 2020, pharmaceutical giant Bayer acquired a majority stake in Care/of. The acquisition showcased the growing interest in personalized health solutions.
**Bayer’s Decision to Cease Further Investment**
Earlier this month, Bayer’s director of strategic communications, Christin Miller, explained that the decision to cease further investment in Care/of was driven by the desire to allocate resources to future innovations that would help people manage their personalized health. While this decision may come as a disappointment to Care/of and its customers, it highlights Bayer’s commitment to exploring new avenues in the health and wellness industry.
Overall, Care/of’s closure raises questions about the sustainability of personalized subscription models and the challenges faced by startups in securing long-term funding. It also emphasizes the importance of innovation and adaptability in the competitive health and wellness market.
