Lightspeed, which provides POS technology for multiple industries, last week acquired Upserve, a restaurant technology company, for $430 million. Montreal-based Lightspeed already serves the restaurant market, but adding Upserve will help it grow its presence further. The Rhode Island-based company offers a suite of services including POS systems, loyalty programs and online and tableside ordering. […]
Tag Archives: Mergers & Acquisitions
Grubhub: Justeats Bet On The Wrong Horse
Summary Grubhub stock will be moving towards $75.15 in H121 (from the current price of $74) as the merger with Justeats gets regulatory approval. The foodtech market in general is a “winner takes all market” with companies striving to gain >50% market share. Grubhub has been the biggest loser in the food-delivery space as Doordash […]
Your Fare Expands Capabilities with Two Acquisitions
Your Fare continues a busy year with two transformational acquisitions. The Austin-based order integration and logistics company acquired Pronto, an online ordering solution for restaurants. The acquisition comes on the tails of Your Fare purchasing Beyond4, a SMS and loyalty app. Both deals were announced last week. Your Fare founder and CEO Chris Monk said […]
Walmart acquiring JoyRun to aid final-mile deliveries
LITTLE ROCK — Walmart is acquiring JoyRun, a startup that focuses on a final-mile platform connecting goods from 500 companies with its more than 30,000 runners who work as independent contractors. “This acquisition allows us to further augment our team and ongoing efforts to explore even more ways to deliver for customers in the future. For […]
The Delivery Hero-Woowa Bros. Merger Faces Antitrust Hurdles
The proposed $4 billion merger between Berlin, Germany-based Delivery Hero and South Korea’s Woowa Brothers now faces regulatory hurdles around antitrust concerns, according to The Korea Herald. Some South Korean lawmakers have gone as far as to request the deal get scrapped on the grounds that it is anti-competitive. In response, South Korea’s antitrust watchdog, the […]
GoPuff in talks to buy liquor store chain BevMo!
GoPuff, a delivery startup backed by SoftBank Vision Fund, said it’s buying brick-and-mortar liquor retailer BevMo! for about $350 million. GoPuff, a delivery startup backed by SoftBank Vision Fund, said it’s buying brick-and-mortar liquor retailer BevMo! for about $350 million. The all-cash deal give GoPuff an entry to the California market, according to a statement […]
Dutch firm’s shareholders vote yes to Grubhub buy, no to CEO’s pay
Just Eat Takeaway.com, the online food-ordering company, on Wednesday said its shareholders approved its proposed $6.9 billion purchase of rival Grubhub, but rejected a pay package for the company’s chief executive, Matthew Maloney. Takeaway agreed in June to buy Grubhub in a deal to create a transatlantic group which would be the biggest food delivery business outside […]
Postmates Is Over $929.3 Million in the Hole
According to the Wall Street Journal, a Friday regulatory filing from SF-based Uber reveals that (also SF-based) food delivery app Postmates is running at a very, very steep loss. “Postmates had an accumulated deficit of $929.3 million as of June 30,” reporter Laura Forman notes, and in the second quarter of 2020 — yes, in those […]
Uber’s Postmates Acquisition Might not Deliver the Profitability Expected
According to Uber, Postmates saw a 125% increase in revenue during the period as sales jumped from $71 million to $160 million. And though that allowed it to slash its losses for the quarter, it indicates that even during a period of unprecedented consumer demand, Postmates is still a money-losing operation. That’s not much different from Grubhub (NYSE:GRUB), which […]
POSTMATES MORE THAN DOUBLES REVENUE IN Q2 AHEAD OF UBER EATS DEAL
Third-party delivery service Postmates saw revenues increase by more than 125% in the second quarter while also cutting its losses as it heads into a proposed acquisition by Uber Eats—a deal that has drawn additional scrutiny from the Department of Justice. That information was disclosed in a document filed late Friday by Uber with the Securities and […]