People loved dot-com companies until they didn’t. Then they loved credit default swaps until they blew up. Now they love cash-burning companies. …There’s a certain parallel to the situation Uber Technologies Inc. finds itself in today, ahead of an initial public offering. Uber was born in an era of low interest rates, when capital has been …
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Postmates is betting on more people wanting food delivered to their doorsteps. The delivery company announced on Tuesday that it has added 1,000 more cities to its service, bringing the total number of cities in its universe to 3,500 across 50 states. With the expansion, Postmates says it’s available to more than 70% of U.S. …
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The Uber IPO documents are finally here, and the much anticipated tech giant’s emergence into the public sphere shows just how competitive the delivery industry is for the third-party delivery firms —and for restaurants and retailers. …The document highlighted Uber’s penchant toward brand partnerships that come with lower service fees than independent restaurant operations. That …
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Fresh off a healthy haul of $100 million in investor cash last fall and continued European expansion after acquiring GoCater, ezCater just landed another $140 million in fun money and acquired the Monkey Group, a Canadian software and training provider that’s the developer of Monkey, a cloud-based platform for takeout, delivery and catering. With a …
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…But the prospectus renewed questions about how sustainable Uber’s business actually is. The company said in the filing that it lost $1.8 billion in 2018, excluding certain transactions, on revenue of $11.3 billion. And the prospectus also showed that its rocket-ship trajectory for revenue growth was beginning to slow. …While revenue growth in its ride-hailing …
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…Mallett compares ezCater to Expedia . The travel company doesn’t own and operate hotels, nor do they create them. EzCater, similarly, works with 60,500 restaurants and caterers around the U.S. to fulfill orders, but at no point do they work directly with food nor make any deliveries themselves. Since its inception, the ezCater marketplace has grown considerably, …
Continue reading “Online catering marketplace ezCater gets another $150M at a $1.25B valuation”
The white-hot, tech-fueled delivery market may be grabbing headlines and consumer attention, but catering, a decidedly less flashy segment of off-premise business can have big payoff, too. According to 2018 Technomic data, catering is a $61.5 billion industry, with some restaurants seeing nearly a quarter of their revenue from catering orders. In fact, it’s a valuable …
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Boston-based restaurant technology company Toast has secured a $250 million Series E round of funding, the company confirmed today, less than a year after its last huge raise. The new influx of capital pushed Toast’s total valuation to $2.7 billion. The investment was lead by TCV and Tiger Global Management, and included participation by several other …
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Restaurant sales hit $825 billion last year in the U.S., but with margins averaging at only three to five percent per business, they’re always looking for an edge on efficiency and just generally running things in a smarter way. A startup called Toast, which has built a popular platform for restaurant management, has closed a hefty round …
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Typing out your order on Mrsool is only the start of what’s made the Saudi delivery app more popular in the kingdom than Uber Technologies Inc. and Facebook Inc. The experience that follows recreates the bargaining of a traditional market. Once the customer picks out items from a store or restaurant, couriers bid to run the errand, offering a …
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