The company that in January bought Bite Squad, the Minneapolis food-delivery firm, on Thursday wrote off much of that deal. It had been the most valuable acquisition involving a Twin Cities tech startup this decade. Waitr Holdings Inc. disclosed a $192 million write-off as it announced quarterly results Thursday, contributing to a $220 million loss […]
Tag Archives: Bite Squad
Louisiana-based food delivery company Waitr goes deeper into the red in third quarter
Louisiana-based food delivery company Waitr will cease operations in 38 “clearly unprofitable” markets over the coming months as the company’s leadership tries to find a “trajectory for a sustainable business,” CEO Adam Price told investors Thursday. The third quarter of 2019 — Price’s first quarter as CEO after founder Chris Meaux resigned and took a position on […]
Waitr reports net loss of $220M; company looks to stay independent
Waitr Holdings Inc., the Lake Charles-based mobile app food delivery business, went deeper into the red as the company reported a net loss of $220.1 million, or $2.89 per share, as of third quarter. By comparison, Waitr lost $6.5 million during third quarter 2018. About $192.1 million of the losses stemmed from goodwill and intangible […]
Food delivery service Waitr calling it quits in Lincoln
Restaurant delivery app Waitr has found the competition in Lincoln a little too steep. The company recently told its local drivers that it will be pulling out of the market Dec. 5. Dean Turcol, Waitr’s media relations director, confirmed that news Thursday to the Journal Star. “In order to position ourselves for the future, we’ve […]
New Bite Squad owner cuts dozens from Twin Cities staff as ex-leaders depart
Waitr Holdings, the Louisiana company that acquired Minneapolis-based online restaurant-delivery service Bite Squad a year ago, is making deep cuts to its Twin Cities staff as the last of Bite Squad’s old leaders depart. The Star Tribune reports that Waitr (NASDAQ: WTRH) this week laid off most of its operations and dispatch workers at its Minneapolis […]
Bite Squad loses its taste for Rochester
After launching in Rochester with great fanfare (and piles of press releases) in August, a Minneapolis-based food delivery biz is pulling the plug on its Med City operations. more
Bite Squad to end Sioux City service
SIOUX CITY, Iowa — Bad news for folks who like their food delivered. According to an email received by a local restaurant employee, on-demand food delivery service Bite Squad plans to end service in Sioux City Dec. 5th. Bite Squad tells Siouxland News in a statement: In order to position ourselves for the future, we’ve made […]
Waitr: Outsize Returns More Likely Than Bankruptcy
Summary Waitr, despite all its flaws, has strong growth and a clear path to profitability. Much of its drop is caused by one time problems in Q2 and near term competitive pressures. Valuation is trading far below peers. This article was selected to be shared with PRO+ Small & Micro Cap subscribers – find out […]
Bite Squad to launch in Hilo on Friday
Bite Squad is set to launch in Hilo on Friday, marking the first Hawaii Island city for the app-based delivery service. More than 40 Hilo restaurants have partnered with Bite Squad so far, including Amigos Taqueria, Bangkok Villa Hilo, Don’s Grill, Ning’s Thai Cuisine, Popover Bakery & Café, Sky Garden Restaurant, Sushi Ebisuya and Tetsumen […]
WAITR INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Waitr Holdings Inc. for Possible Securities Fraud – WTRH
NEW ORLEANS, Sept. 02, 2019 (GLOBE NEWSWIRE) — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Waitr Holdings Inc. (WTRH). KSF is investigating whether Waitr and certain insiders and entities associated with […]