San Francisco-based startup DoorDash has emerged as the dark horse in the food delivery race. As Postmates and Uber prepare to go public, DoorDash is raising another $500 million (paywall) at a valuation of between $6 billion and $7 billion, the Wall Street Journal reported. That would add to the nearly $1 billion the company has raised …
Continue reading “DoorDash has overtaken Uber Eats in US online food delivery”
Just Eat Plc should merge with a rival online meal-delivery company because the board has shown that it can’t find a suitable chief executive officer, according to Cat Rock Capital Management LP, which owns about 2 percent of Just Eat. The Greenwich, Connecticut-based investment firm sent an open letter to Just Eat’s board of directors …
Continue reading “Just Eat Urged to Seek Merger With a Rival”
Just days after Postmates filed confidential paperwork for an initial public offering, the latest news in the on-demand delivery space is that competitor DoorDash is in the process of raising a $500 million round, The Wall Street Journal reports. The round would reportedly value DoorDash at more than $6 billion and possibly up to $7 billion. more
(CNN Business)Another popular startup has joined the IPO race: Food delivery startup Postmates has filed initial paperwork to go public.The company confirmed its plans in an announcement on its website.San Francisco-based Postmates launched in 2011 by co-founders Sam Street, Sean Plaice and Bastian Lehmann, who is also the company’s CEO.The company is considered a pioneer in the …
Continue reading “Food delivery startup Postmates files for IPO”
Nine days into the new year, Olo announced that it had secured a fresh $18 million round from Tiger Global Management, and the new funding announcements haven’t slowed down since. While hundreds of millions of dollars weren’t dropped on any one restaurant-focused company this month, there were some big wins for the little guys, from …
The Munchery saga continues. In a new class-action lawsuit, former Munchery facilities worker Joshua Philips is claiming the startup owes him and 250 other employees 60 days’ wages, citing The Worker Adjustment and Retraining Notification Act, a U.S. labor law that requires employers with an excess of 100 employees to give notice 60 days ahead of mass layoffs. Munchery, …
Continue reading “Former Munchery employees sue company, blame CEO for shutdown”
When one food delivery startup fails, another gets funded. Chowbus, an Asian food ordering platform headquartered in Chicago, has brought in a $4 million “seed” funding led by Greycroft Partners and FJ Labs, with participation from Hyde Park Angels and Fika Ventures. The startup, aware of the challenges that plague startups in this space, says offering exclusive access to restaurants and eliminating service …
Continue reading “Asian food delivery startup Chowbus raises $4M”
On-demand food delivery startup Munchery is ceasing operations effective immediately, the startup announced in an e-mail to customers on Monday. Founded in 2010, the San Francisco-based business had raised a total of $125 million in venture capital funding, reaching a valuation of $300 million with an $87 million round in 2015, according to PitchBook. Munchery was backed …
Continue reading “After raising $125M, Munchery fails to deliver”
To compete in a world of on-demand everything right to your door led by the likes of Amazon and Uber, traditional physical retailers and those working with them have been looking for an edge by providing efficient, tech-fuelled delivery services of their own. Now, a startup that has built a platform to enable last-mile logistics …
Less than five months after raising $300 million, Postmates will add another $100 million to its coffers. The company told Forbes that it has closed $100 million in a funding round led by BlackRock, Tiger Global and Glynn Capital, among others. The round will raise the San Francisco-based delivery company’s valuation to $1.85 billion, up from $1.2 billion …
