The latest bearish call on Waitr Holdings Inc. is “laughable”’ to Benchmark senior analyst Daniel Kurnos, who said the Wednesday note from “The Friendly Bear” on Seeking Alpha is “a bombastic, non-factual report.” Shares fell 7.7 percent on Wednesday after the short report identified 45% downside in the food delivery company, calling it a “public market dine and dash.” …
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Spectacular near-term blowup in the making – awful competitive dynamics, slowing growth, sell side promotion exhausted, significant undisclosed litigation – all packaged nicely in the notorious SPAC structure. Far better run and funded competitors such as Uber and DoorDash (SoftBank) are rapidly entering Waitr’s markets and the company’s recent results already reflect distress. HedgeEye and …
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Five Point Four lodged a notice of administration to the Australian Securities and Investments Commission (ASIC) on Friday after informing customers on Wednesday their meals won’t be arriving. “In the face of increasing competition and our cost to serve, we have made the really difficult decision to stop taking orders with immediate effect as of …
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(Reuters) – Zomato Media Pvt Ltd will sell its UAE food delivery business to Germany’s Delivery Hero Group for about $172 million, Zomato’s second-largest shareholder Info Edge (India) Ltd said on Monday. Zomato and Naspers-backed Delivery Hero will then enter services agreements under which Zomato will continue to run the business on its own platform …
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Several weeks after a sudden shutdown left customers and vendors in the lurch, meal-kit service Munchery has filed for bankruptcy. In the Chapter 11 filing, Munchery chief executive officer James Beriker cites increased competition, over-funding, aggressive expansion efforts and Blue Apron’s failed IPO as reasons for its demise. Munchery owes $3 million in unfulfilled customer gift cards and another$3 million to …
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There have been a handful of watershed moments in the third-party delivery space these last few years: Grubhub going public in 2014; Target buying Shipt in 2017; and DoorDash raising three-quarters of a billion dollars during 2018. With the latest news that DoorDash raised an additional $400 million, the industry crosses another mega-checkpoint with investors …
There have been a handful of watershed moments in the third-party delivery space these last few years: Grubhub going public in 2014, Target buying Shipt in 2017 and DoorDash raising three-quarters of a billion dollars during 2018. With the latest news that DoorDash raised an additional $400 million, the industry crosses another mega-checkpoint with investors …
The deal, which is expected to close by next month, will be Swiggy’s largest acquisition to date. Uber is said to be cutting costs in preparation for an IPO later this year, with some estimates valuing the ride-hailing giant at US$120 billion. In recent years, it has sold regional operations – including food delivery – …
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Investor appetite in food delivery companies is growing, notwithstanding a rash of customer complaints about how these startups pay contract workers. On Thursday, DoorDash announced it had raised another $400 million in a Series F funding round led by Temasek and Dragoneer Investment Group. The cash infusion brings DoorDash’s total capital raised to $1.4 billion, of which …
Delivery company DoorDash is announcing that it has raised $400 million in Series F financing. …Co-founder and CEO Tony Xu told me the funding is “a reflection of superior performance over the past year.” Apparently the company is currently seeing 325 percent growth, year-over-year, and it points to recent data from Second Measure showing that the service overtaken Uber Eats for …
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