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Squeezed dry: Juicero shuts down

The company suspends sales of its $400 Wi-Fi connected juicer and offers customer refunds.

You have until Dec. 1 to request a refund for the Juicero Press.

Goodbye overpriced juicer. I'm sure someone will miss you. 

Juicero, the maker of a $400 Wi-Fi connected juicer, is shutting down.The company on Friday said it was suspending sales, offering refunds and looking for a buyer.

"It became clear that creating an effective manufacturing and distribution system for a nationwide customer base requires infrastructure that we cannot achieve on our own as a standalone business," the company said in a statement on its website.

Juicero felt the squeeze in April when Bloomberg pointed out that the pricey juicer, which initially cost $700, can be bypassed by simply hand-squeezing the juice bags that are placed inside the machine. Some pointed to Juicero as the embodiment of out-of-touch Silicon Valley culture: a tech company seeking to solve a nonexistent problem by selling an overpriced and apparently unnecessary device. In July, Juicero cut 25 percent of its staff and said it was working on a second-gen juicer that would cost less than the current $400 model.

A representative for Juicero didn't immediately respond to a request for comment.