More than 50 delivery workers have had their accounts deactivated by Grubhub in the past two weeks — and they’re blaming the company’s new owner, Wonder. It didn’t take long for the new industry power player — which finalized its $650-million purchase of Grubhub in January — to start flexing its muscles. Since Wonder, formerly …
Tag Archives: stats
Olo sells itself for $2B
Dive Brief: Dive Insight: Despite having a successful IPO, the chain has struggled in recent quarters, laying off 9% of its corporate staff in September to position the company for balanced growth. That was in addition to an 11% cut to its staff in June 2023. Tech companies have struggled on the stock market in the past few years. …
Doordash announces $1.2 billion SevenRooms deal, misses revenue expectations
DoorDash CEO Tony Xu: Deliveroo & SevenRooms deals make us a multi-product company on a global scale Doordash on Tuesday announced the $1.2 billion acquisition of restaurant booking platform SevenRooms and reported first-quarter revenue that missed expectations. Shares of Doordash fell 5% following the news. Here’s how the company did, based on LSEG expectations: Doordash said the all-cash acquisition of SevenRooms, a New …
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Restaurant tech supplier Olo is reportedly considering a sale
The online ordering provider has received interest from potential buyers, Bloomberg reported. Olo owns a huge piece of the online ordering market, but its stock has struggled. The big restaurant tech supplier Olo is reportedly considering a sale after receiving interest from potential buyers. That’s according to a Bloomberg article published Wednesday, which cited people …
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British Food Delivery Firm Deliveroo’s Stock Soars on DoorDash Acquisition Offer
KEY TAKEAWAYS Shares of Deliveroo soared in London trading Monday after the British food delivery firm said it had received an “indicative proposal” from DoorDash (DASH) to be acquired for 180 pence ($2.40) a share, or roughly 2.72 billion pounds ($3.63 billion). Deliveroo shares surged 17% in London to 171.9 pence. Shares of DoorDash, which has until …
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The restaurant industry cut nearly 28K jobs in February
The U.S. economy added 151,000 workers in February, according to federal data released Friday, while the unemployment rate ticked up to 4.1%. Hiring picked up slightly from January but fell short of the average number of jobs added each month in 2024. The restaurant industry cut 27,500 jobs in February, deepening this year’s workforce decline that …
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DoorDash took $80 billion in orders and subscriptions in 2024, but still operated at a loss
Much of the discourse around “private burrito taxi” economics, which crops up every six months when people get really bored on Twitter, suggests that the companies bringing us our expensive (but convenient) goods must be making a fortune from our everything-now appetites. In DoorDash’s case, though, profit has proved tricky to deliver. In the last quarter alone, DoorDash took …
DoorDash tops quarterly revenue estimates on strong online orders during holidays
Feb 11 (Reuters) – DoorDash (DASH.O), opens new tab topped analysts’ estimate for quarterly revenue and total orders on Tuesday, as customers turned to its online platform to buy everything from food and groceries to alcohol during the holiday season. Shares of the company rose nearly 7% in extended trading, after it also decided to buy back …
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Olo (OLO) Rose on Strong Results
Conestoga Capital Advisors, an asset management company, released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. For the second consecutive year, U.S. equity indices ended the year with double-digit returns after generating modest returns in the fourth quarter of 2024. Conestoga’s investment plans were hindered by the enthusiasm for everything artificial …
Former GrubHub Owner Just Eat Takeaway Bought In $4.2 Billion Deal
Former GrubHub owner and food delivery business Just Eat Takeaway has been acquired up by a backer of German rival Delivery Hero for $4.2 billion Just Eat’s board unanimously approved the takeover by the South African-owned internet investor Prosus, just two months after it left the London Stock Exchange. And the all-cash deal comes six …
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