Finding Profit in a Very Unprofotable Sector

Jag Bath, an e-commerce veteran of Gilt Groupe and RetailMeNot, became CEO of the Austin-based on-demand delivery service Favor in 2015, fully prepared to execute the Silicon Valley playbook of growth at any cost. But it wasn’t until he made a series of painful decisions, and took a much different approach, that the company really succeeded.

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Favor CEO Jag Bath, architect of the strategy that saved the business, at company headquarters in Austin. Favor connects smartphone users to an army of Uber-style freelance drivers who deliver anything from a restaurant or store in less than an hour.

around $4 billion of venture capital—that’s $1 billion