What Happened to Boxed?
Return
0.0%
Current Price
$0
Peak Price
â
Trust Size
$119M
Summary
Boxed was an online bulk grocery delivery service often described as 'Costco for millennials,' offering warehouse-club-sized products without a membership fee. The company went public via SPAC merger with Seven Oaks Acquisition Corp in 2021. Boxed filed for Chapter 11 bankruptcy in April 2023.
What Happened
Seven Oaks Acquisition Corp merged with Boxed in December 2021. The e-commerce grocery platform struggled to compete with Amazon and traditional warehouse clubs, burning through cash. The collapse of Silicon Valley Bank, where Boxed held funds, accelerated its demise. Boxed filed for Chapter 11 in April 2023 and shut down its retail operations, trying to sell its software business.
Timeline
2020-12-15
S-1 Registration Filed
2023-05-02
Last SEC Filing