Waitr was $291 million in the red during 2019, cash on hand drops to $30 million

Louisiana online food delivery ordering tech startup Waitr Holdings Inc. was $291 million in the red during 2019, which is a loss of $4 per share, compared to a $34 million, or $2 per share, loss in 2018.  Waitr’s fourth-quarter earnings were also down as it lost $21.6 million in the last three months of […]

Bite Squad parent drops drivers in switch to gig-worker model

The parent company of Bite Squad plans to lay off the food-delivery service’s employee drivers within the next six weeks, intending to convert them into independent contractors. Based in Minneapolis, Bite Squad was purchased in 2019 for $321 million by Waitr Holdings Inc. (Nasdaq: WTRH) of Lafayette, La. The company previously announced plans to lay off about […]

Landshark Delivery acquired by Bite Squad

As a locally owned business, Landshark Delivery helped make eating easier for Oxford residents and students for years. Landshark is still around, but this week they became part of a national brand. Bite Squad announced the acquisition of Landshark Delivery effective as of Wednesday, bringing the Oxford business into the fold along with other cities […]

Bite Squad nixes delivery and goes pick-up only

As of January 28, Bite Squad (Website) is pick-up only in Orlando. The delivery (or non-delivery) company notified local users earlier this week to notify them that they would no longer be offering delivery service in the area. They would, however, continue allowing users to order ahead at restaurants via their platform for arranged take-out […]

Bite Squad gobbles up local food delivery service

JONESBORO, Ark. (KAIT) – Food delivery service Bite Squad announced Tuesday it had acquired its competition, Jonesboro2go. The consolidation, according to a news release, means customers will have more than 70 restaurants to choose from, with more expected to be added in the coming weeks. Jentry Kaiser, Bite Squad’s new market manager and former general manager for […]

Bite Squad bails on three Minnesota cities

Bite Squad, the restaurant delivery service, will halt service in St. Cloud, Rochester and Duluth next month, just months after launching in the Minnesota cities. The St. Cloud Times reports on the announcement by Bite Squad, which got its start in the Twin Cities market but was bought earlier this year by Waitr Holdings Inc. (NASDAQ: WTRH) of Lake Charles, […]

Bite Squad delivered food, but also mixed results for St. Cloud businesses

ST. CLOUD — Delivery eaters using Bite Squad to access restaurants may have to find another way to get their dinner dropped at their door next month. But some participating restaurants do not anticipate being heavily affected by the service’s upcoming discontinuation in St. Cloud. Bite Squad, a food delivery service, will no longer deliver […]

Bite Squad to End Service in 3 Minnesota Cities

Around this time last year, we predicted that small- to mid-sized U.S. cities would be key battlegrounds in the war to win food delivery, and that this expansion would give smaller services a chance to stand out. We were half right. Restaurant food delivery has indeed made its way to every conceivable corner of the nation, and […]

Bite Squad stopping service in Duluth, St. Cloud, Rochester

Bite Squad will stop its meal-delivery service Dec. 5 in Duluth, St. Cloud and Rochester. Since the Louisiana company Waitr bought Bite Squad for $321 million in January, it doubled its footprint to reach 700 towns and cities in 27 states between the two app-based delivery services. However, earlier this month, as it essentially wrote […]

Waitr: What We Got Wrong

Q3 results were a disaster, missing all our targets substantially. Expenses remained elevated and revenues declined sequentially, leading to elevated losses. A lawsuit targets Waitr management for lying to investors and shows the poor fundamentals. We have learned not to invest in SPACs as management are incentivised to do less due diligence. When we first […]