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- 📝 VCs oust Fluid Truck Founders
📝 VCs oust Fluid Truck Founders
Liam Gill
August 29, 2024
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News of the Day
Fluid Truck, a startup aimed at disrupting the commercial vehicle rental industry, has ousted its sibling co-founders, CEO James Eberhard and chief legal counsel Jenifer Snyder, in a move described by employees as a hostile takeover led by minority investors Bison Capital and Ingka Investments. The restructuring comes after the company, despite hitting EBITDA profitability in 2023, lost tens of millions of dollars, leaving vendors and fleet owners unpaid. Now under interim CEO Scott Avila from Paladin Management, Fluid Truck faces ongoing financial challenges, rising tensions within the workplace, and a pressing need to secure additional funding to stay afloat.
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