CEO Noah Glass and CFO Peter Benevides, along with nine board members, are accused of misleading investors about Olo’s customer count and its deal with Subway. more
Category Archives: Capital
DoorDash: It Just Doesn’t Make Sense
Summary Business Overview DoorDash (NYSE:DASH) is a meal delivery service company which offers to serve the needs of three primary groups: merchants, consumers, and workers (“Dashers” as the company calls them). The company has over 32 million users and over 15 million memberships of its subscription services: DashPass and Wolt+. On the merchant end, DoorDash has …
How a 21-year-old CEO landed $3.5 million for software that he originally built to help his mom’s struggling dog grooming business keep repeat customers
Profitboss CEO Adam Guild has boundless energy. The 21-year-old founder can speak several paragraphs worth of information in a minute. That animated style and depth of knowledge is one reason venture capitalists decided to invest in his startup, which he founded at 18. The company recently wrapped up a $3.5 million seed round led by Redpoint …
DoorDash Q1 earnings: Delivery platform grows revenue 40% compared to a year ago
DoorDash said Thursday that its revenue increased 40% year-over-year in the first quarter of this year, showing there’s continued consumer appetite for its core food-and-goods delivery model beyond COVID-19 highs. The San Francisco-based company reported revenue of $2.04 billion, compared to the $1.46 billion it reported for the first quarter of 2022. The strong quarter …
Continue reading “DoorDash Q1 earnings: Delivery platform grows revenue 40% compared to a year ago”
Food Rocket Ceases Operations as Ultra-fast Grocery Delivery Fizzles
Rapid grocery delivery startup Food Rocket has ceased operations, marking the latest in the ultra-fast sector to sputter out. The company stated that in spite of overall profitability, it has exhausted its funding and ran out of capital while struggling to raise additional funding. It adds that the recent downturn in capital markets made it …
Continue reading “Food Rocket Ceases Operations as Ultra-fast Grocery Delivery Fizzles”
ItsaCheckmate Acquires Open Tender, a First-Party Ordering Platform For Restaurants
Open Tender augments ItsaCheckmate’s third-party ordering and management platform with first-party digital ordering and loyalty capabilities ItsaCheckmate Acquires Open Tender, a First-Party Ordering Platform For Restaurants ItsaCheckmate Acquires Open Tender, a First-Party Ordering Platform For Restaurants NEW YORK, March 21, 2023 (GLOBE NEWSWIRE) — ItsaCheckmate, the center of a restaurant’s digital ordering business, announces the acquisition …
Grubhub CEO Adam DeWitt resigns
Dive Brief: Dive Insight: During DeWitt’s tenure at Grubhub, he led the company through its initial public offering in 2014 and oversaw its acquisition by JET in 2021. The company also grew from $20 million to $2 billion in annual revenue during DeWitt’s time with the delivery platform. Migdal brings 16 years of food delivery experience to his …
Grubhub is losing its second CEO in less than 2 years as owner explores sale of company
Adam DeWitt, chief executive of Grubhub, is stepping down as CEO of the nation’s No. 3 delivery operator, the company’s European owner, Just Eat Takeaway.com, announced Monday. DeWitt ran Grubhub alongside co-founder and former CEO Matt Maloney for years during its heyday. DeWitt served as the company’s chief financial officer until he became CEO in June 2021, when JET …
Just Eat Takeaway loss widens on massive Grubhub impairment
Just Eat Takeaway.com NV on Wednesday reported a widened loss for 2022, due to a huge impairment of its Grubhub acquisition, but it growth in 2023. The former FTSE 100 stock was down 6.0% at 1,701.00 pence each on Wednesday morning in London. The food delivery app said revenue was up 4.3% to EUR5.56 billion …
Continue reading “Just Eat Takeaway loss widens on massive Grubhub impairment”
Chowly Announces Acquisition of Koala
CHICAGO–(BUSINESS WIRE)–Chowly, a restaurant technology company that integrates third-party delivery marketplaces with point-of-sale (POS) systems, today announced its acquisition of Koala, a guest experience platform that empowers established and emerging restaurant brands to elevate their digital ordering experience across web, app and kiosk to drive immediate results. The combined business will represent over 16,000 restaurant locations …