Venture Capital
Hampton Creek CEO Fires Top Execs After Fundraising Struggles
- Food startup has raised $7 million toward a $150 million goal
- CEO said to terminate chiefs of finance, operations and HR
A jar of Hampton Creek Inc. Just Mayo brand egg-less mayonnaise.
Photographer: Daniel Acker/BloombergHampton Creek Inc. has struggled to line up funding, and its management is in turmoil.
The venture-backed vegan food company has brought in a fraction of the funding it’s been trying to raise for the better part of a year, a slowdown from the rapid pace at which it was able to lure cash from investors in its early years as a startup. Meanwhile, Chief Executive Officer Josh Tetrick is looking to cut costs and fired several of his deputies, while a handful of other senior managers have exited the company in recent months, showing a lack of stability in Hampton Creek’s leadership ranks.