The food delivery wars in Europe remain hotter than a vindaloo, and that’s leading to some major consolidation: today Just Eat and Takeaway.com, two of the bigger take-out and delivery businesses in the region, announced they are in the “advanced stages” of a merger. The deal would help them combine forces and take on more scale to compete better …
Category Archives: Capital
Postmates has explored a sale to Uber or DoorDash instead of going public
A half-dozen American food-delivery companies are battling for dominance. Consolidation seems inevitable. The US doesn’t need so many venture-backed companies in an industry defined by low margins, similar services, and fickle customer loyalty. And yet no end has appeared in sight. But Recode has learned that one of the most prominent of these startups, Postmates, has explored a sale …
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GrubHub shares jump after Amazon shuts down its restaurant delivery service
Shares of online food delivery services GrubHub and Waitr Holdings jumped Tuesday after Amazon said it was shutting down its four-year-old rival service, which delivered restaurant meals to Prime members’ doorsteps. GrubHub shares, which have a market value of $6.3 billion, gained more than 7% on Tuesday, while shares of smaller rival Waitr gained 3%. Waitr has …
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Can Uber Ever Be Profitable?
…To fill the company’s void on future guidance, this column addresses the first of four questions Uber should have answered prior to its broken IPO. What are the root causes of the Uber’s deep losses to date? Are there quick fixes to improve Uber’s profitability? What can Uber do in the short- to medium-term to …
U.S. Food-Delivery Rivals Risk Capital Destruction
Americans spent nearly $800 billion on food away from home in 2017, according to the Department of Agriculture, rising at about 5% per year. Assuming the trend continues, sales should be about $1 trillion in five years. Uber’s first-quarter figures, set to be unveiled in detail on Thursday, should show bookings doubling over the past …
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DoorDash, now valued at $12.6B, shoots for the moon
…DoorDash was currently seeing 325 percent growth year-over-year, he said, pointing to recent data from Second Measure showing the service had overtaken Uber Eats in the U.S., coming in second only to GrubHub. “I think the numbers speak for themselves,” Xu said at the time. “If you just run the math on DoorDash’s course and speed, we’re …
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DoorDash valued at $12.6 billion after latest funding round
(Reuters) – Food delivery company DoorDash said on Thursday it raised $600 million in its latest round of funding, valuing the California-based startup at $12.6 billion. DoorDash, which has partnered with Chipotle Mexican Grill Inc and burger chain Wendy’s Co to deliver hot food ordered on its smartphone app, said its business grew more than …
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DoorDash Is Now Worth $12.6 Billion After New $600 Million Investment
The investor feeding frenzy around food-delivery startups hasn’t stopped. Just three months after raising $400 million, DoorDash confirmed it has closed another $600 million with New York City hedge fund Darsana Capital Partners leading the round. That’s an extra billion in its war chest so far this year, and half of the total of $2 …
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Grubhub’s Recent Problems May Be Just the Beginning
Grubhub (NYSE: GRUB) stock has fallen more than 50% since last September, and after slumping through 2019 now trades at a 52-week low. Shares of the food delivery specialist have gotten shellacked — the company’s profits have fallen as competition has stolen market share. …Grubhub has steadily lost market share. According to Edison Trends the company had a 26.7% …
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Waitr Holdings Inc. Announces Closing of Follow-on Public Offering
Waitr Holdings Inc. (WTRH) (“Waitr”), a leader in on-demand food ordering and delivery, today announced the closing of its follow-on public offering of 6,757,000 shares of its common stock at a price to the public of $7.40 per share (the “Offering”) resulting in gross proceeds of $50.0 million. In addition, Waitr has granted the underwriters …
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