Harry's, a men's grooming company, was hoping to sell its employee wellness platform, Better Up, to the US military. However, the military has refused to acquire the company, citing concerns about its financial viability.
Harry's CEO, Jeff Raider, met with military officials in San Diego on Tuesday to discuss the potential acquisition. However, the meeting did not go as planned. According to a report by The Wall Street Journal, the military officials told Raider that they were not interested in acquiring Better Up because they were concerned about the company's financial health.
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The military's decision is a blow to Harry's, which had hoped to sell Better Up for $1 billion. The company has been struggling financially in recent months, and it has laid off hundreds of employees.
Raider has said that he is still hopeful that Better Up will be acquired by another company. However, it is unclear if any other companies are interested in buying the company.
The military's decision not to acquire Better Up is a reminder of the challenges that Harry's is facing. The company has been struggling financially for months, and it is unclear if it will be able to turn things around.
Here are some possible reasons why the US Military refused to acquire Harry's Better Up:
Financial concerns: The military may have been concerned about Better Up's financial viability. The company has been struggling financially in recent months, and it has laid off hundreds of employees.
Lack of trust: The military may not have trusted Harry's to deliver on his promises. The company has a history of making promises that it has not been able to keep.
Other priorities: The military may have other priorities that are more important than acquiring Better Up. For example, the military may be focused on other areas, such as training and readiness.
It is important to note that these are just some possible reasons why the US Military refused to acquire Harry's Better Up. The military has not released a statement explaining its decision