April Underwood, a former Slack executive, closes her one-year-old startup Nearby, which had raised $21 million from investors like Redpoint Ventures, GV, and Obvious Ventures. The company aimed to help small businesses compete against Amazon. Nearby’s shutdown follows its funding round despite its ambitious mission.
Nearby’s CEO and founder announces the company’s closure. The post reflects on the journey and expresses gratitude to users, partners, and the team. Nearby had previously focused on a platform connecting local businesses and customers.
Brett Rounsaville and April Underwood launched a hyper-local shopping app connecting Bay Area customers with small brick-and-mortar stores. The platform now expands beyond Oakland to include Berkeley and Alameda, offering products like jewelry, apparel, spices, and art supplies from nearby shops. The app serves as an alternative to Amazon by supporting local businesses during and beyond the pandemic.
Nearby secures $21 million in Series A funding to expand its e-commerce platform for small local retailers competing for online sales. The platform connects nearby stores with customers seeking local purchases. This investment supports Nearby’s growth as it targets underserved small businesses in the digital marketplace.
