Burma Superstar’s new Oakland restaurant has a surprise investor: DoorDash

For the first time in the company’s history, food delivery app DoorDash has invested in a restaurant. The new venture for DoorDash is a stake in Oakland’s Burma Bites, a spin-off of Burma Superstar that will open on Oct. 28 for takeout and delivery service. Burma Superstar has defined Burmese food in the Bay Area since […]

Dutch firm’s shareholders vote yes to Grubhub buy, no to CEO’s pay

Just Eat Takeaway.com, the online food-ordering company, on Wednesday said its shareholders approved its proposed $6.9 billion purchase of rival Grubhub, but rejected a pay package for the company’s chief executive, Matthew Maloney. Takeaway agreed in June to buy Grubhub in a deal to create a transatlantic group which would be the biggest food delivery business outside […]

Postmates Is Over $929.3 Million in the Hole

According to the Wall Street Journal, a Friday regulatory filing from SF-based Uber reveals that (also SF-based) food delivery app Postmates is running at a very, very steep loss. “Postmates had an accumulated deficit of $929.3 million as of June 30,” reporter Laura Forman notes, and in the second quarter of 2020 — yes, in those […]

Uber’s Postmates Acquisition Might not Deliver the Profitability Expected

According to Uber, Postmates saw a 125% increase in revenue during the period as sales jumped from $71 million to $160 million. And though that allowed it to slash its losses for the quarter, it indicates that even during a period of unprecedented consumer demand, Postmates is still a money-losing operation. That’s not much different from Grubhub (NYSE:GRUB), which […]

POSTMATES MORE THAN DOUBLES REVENUE IN Q2 AHEAD OF UBER EATS DEAL

Third-party delivery service Postmates saw revenues increase by more than 125% in the second quarter while also cutting its losses as it heads into a proposed acquisition by Uber Eats—a deal that has drawn additional scrutiny from the Department of Justice.  That information was disclosed in a document filed late Friday by Uber with the Securities and […]

Waitr’s Footprint and Fintech Make for an Appetizing Takeover Target

When it comes to regional expansion, Uber Technologies, Inc., Just Eat Takeaway, and Doordash tend to take big bites. Who might be their next M&A target? One prime candidate to consider is food ordering and delivery business Waitr Holdings, Inc., which connects local restaurants to diners in underserved markets where it usually has a dominant […]

Delivery Hero to Acquire South American Delivery Firm Glovo

In yet another big consolidation for the global food delivery industry, Delivery Hero is set to acquire Latin- and South-American delivery network Glovo for about $268 million. The deal would mark the second large delivery acquisition by the German-based delivery firm in as many months. The company also announced plans to acquire InstaShop, an online […]

Grubhub Acquisition by Just Eat Takeaway May Need 6 Months More to Complete

Grubhub (NYSE:GRUB) announced today that although it and Just Eat Takeaway.com (LSE:JET) have received all the necessary regulatory approvals to complete their $7.3 billion all-stock merger, the two may need more time to complete the deal. The third-part meal delivery industry is undergoing a wave of consolidation. Uber Technologies (NYSE:UBER) is acquiring Postmates for $2.6 billion (and had sought to acquire Grubhub before it accepted […]

Food Delivery Service Zomato Raises $62M From Temasek

Indian food delivery startup Zomato has raised a $62 million financing round from Singapore’s state investment arm Temasek Holdings. According to the Economic Times, the transaction was made from Temasek unit MacRitchie Investments, which is an existing investor in the food delivery service. The round values Zomato at about $3 billion. It also comes after several […]

DoorDash Is Planning a Traditional IPO in Fourth Quarter

Food delivery business DoorDash Inc. is aiming to go ahead with an initial public offering in the fourth quarter, according to people familiar with the matter. The company is taking steps to go public in November or December, said the people, who asked not to be identified because the information was private. DoorDash, which had earlier considered going public […]