In an online world where consistent responses to customer feedback have a vital impact on a brand’s narrative, Marqii, a digital operations platform for the hospitality industry, continues to grow its guest engagement footprint among competitors, landing $4.5 million in Series A investment, bringing its total amount raised to $10 million. The capital financing round …
Continue reading “Marqii Lands Series A Funding, Ramping Total Raised up to $10 Million”
New York City’s delivery fee cap is hampering the potential sale of Grubhub, owner Just Eat Takeaway.com (JET) said Wednesday. The cap, which limits third-party delivery commissions to 20% of the order total, is currently under review by the City Council and the subject of a lawsuit from Grubhub, DoorDash and Uber Eats. Its uncertain …
Continue reading “NYC’s delivery fee cap is complicating a Grubhub sale”
Waitr Holdings Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 13.95 million compared to USD 31.17 million a year ago. Net loss was USD 12.95 million compared to USD 11.67 million a year ago. Basic loss per share …
more
Just Eat Takeaway TKWY reported half-year 2023 results with total orders down 12% and gross transaction value down 7%, broadly in line with expectations. The Southern Europe, Australia, and New Zealand market, and Grubhub continue to be the main detractors with orders down 17% and 15% respectively. On a positive note, GTV and revenue improved in the …
Uber has reported an operating profit during a fiscal quarter for the first time in its history. The company reported its second quarter earnings for 2023 [PDF] on Tuesday morning, which included a net income of $394 million for the quarter, up $1.0 billion year-over-year and $588 million versus the preceding quarter. The company attributed its net …
Continue reading “Uber reports first quarterly operating profit in Q2 2023 results”
Just Eat Takeaway.com NV is finding it difficult to complete the sale of its US business, Grubhub Holdings Inc., because of a combination of high price demands from some investors and a weak market for deals, Chief Executive Officer Jitse Groen said. “We’re talking to buyers still, but it’s a very difficult M&A situation currently,” …
Continue reading “Just Eat CEO Says Grubhub Sale Is Proving ‘Very Difficult’”
Shares of Toast Inc. were tumbling nearly 10% in morning trading Wednesday after the restaurant-technology company said it was doing away with a 99-cent order-processing fee that drew pushback from customers. “We made the wrong decision and following a careful review, including the additional feedback we received, the fee will be removed from our Toast …
Continue reading “Toast stock gets burned as company reverses course on controversial fee”
Leading virtual brand company Nextbite has sold its order-management technology platform, Ordermark, to UrbanPiper, a restaurant industry software platform in India. The news comes amid recent layoffs and just ahead of the official sale of Nextbite to Sam Nazarian, founder of sbe Lifestyle Hospitality and virtual restaurant platform C3. In an interview with Food On Demand, Alex Canter, Nextbite …
Continue reading “Nextbite Sells Ordermark to Indian Software Company UrbanPiper”
The largest restaurant chains in America are struggling to overcome waning demand as the economy continues to slow down. Even giants like Domino’s Pizza, which operates almost 19,000 stores worldwide, are reporting a series of challenges and financial losses in 2023. The chain is now closing thousands of underperforming locations after recent price hike controversies …
