Grocery platform Misfits Market acquires The Rounds to further its mission of reducing food waste

Misfits Market, the online platform that delivers imperfect groceries to help minimize waste, announced the acquisition of household restocking service The Rounds on Friday. As a result of the deal, Misfits Market plans to take on over 250 items from The Rounds’ inventory. This allows the company to diversify into additional categories, such as household items, including cleaning supplies and paper products. In a bid to transition The Rounds customers to Misfits Market, the company is offering a $30 credit, along with a complimentary one-year subscription to its new Misfits+ membership, which includes exclusive weekly deals and free shipping. The company declined to disclose the terms of the deal. It also couldn’t confirm whether layoffs would be part of the acquisition, as decisions are still being finalized. The Rounds has raised a total of $66 million from investors such as Andrew Chen (Andreessen Horowitz), Annie Kadavy (Redpoint Ventures), Construct Capital, and First Round Cap ... Read full article.