Waitr’s Footprint and Fintech Make for an Appetizing Takeover Target

When it comes to regional expansion, Uber Technologies, Inc., Just Eat Takeaway, and Doordash tend to take big bites. Who might be their next M&A target? One prime candidate to consider is food ordering and delivery business Waitr Holdings, Inc., which connects local restaurants to diners in underserved markets where it usually has a dominant […]

Waitr CEO Dishes On The Future Of Foodservice Delivery, Including Further Consolidation

Waitr did something in Q2 that few foodservice delivery companies have ever done.   It turned a profit.   The Louisiana-based company, which counts over 2 million active diners, reported net income for the second quarter of $10.7 million, versus a loss of $24.9 million during the same period last year.    Waitr’s results come after a tumultuous […]

Food delivery service app Bite Squad grows Orlando presence with new jobs

A Minneapolis-based food delivery service is ramping up its growth in Orlando with lots of new jobs. Bite Squad plans to hire more than 200 contract drivers in the metro area. That comes as restaurants have seen an increase in take-out and delivery orders due to the Covid-19 pandemic. “These positions not only will help […]

Waitr settling former driver class action lawsuit and to give 1.5M stock, not cash

After 18 months in the legal system, Waitr Holdings Inc. is in the final stages of settling a class action lawsuit brought against the company by delivery drivers who claimed they were not paid at least minimum wage in violation of federal law. The value of the settlement could be roughly $7.4 million and the […]

Lafayette-based Waitr beats second-quarter estimates, posts record $10.7 million profit

Lafayette-based food delivery service Waitr announced Thursday its second quarter results beat earlier estimates, posting a $10.7 million in its official results instead of the $8 million estimated earlier. The second quarter marked Waitr’s first profitable quarter since the company went public in 2018. Waitr’s preliminary results in early July estimated the $8 million profit for the company. In the […]

Constituents, Industry Best Practices Guide Waitr’s Turnaround

When Waitr (NASDAQ: WTRH) pre-announced its second quarter results, it looked like a starkly different company than it did at the beginning of 2020. But it wasn’t the new popularity of delivery during the COVID-19 pandemic that got the company back on track, it was tough decisions, thoughtful exploration and seeing what the core constituents […]

Bite Squad is Back in Growth Mode

Bite Squad—a third-party delivery platform that’s a subsidiary of Waitr—is back in growth mode, according to various news reports, as it looks to add hundreds of new drivers in key markets, along with new executive team members and expanding its delivery service in Oahu, a critical market for the brand. The Minneapolis-St. Paul Business Journal […]

Waitr raises nearly $50 million in stock sale, renegotiates debt

Online food delivery company Waitr Holdings Inc. sold $48.3 million of common stock to shareholders, or about 23.6 million shares in recent weeks.  The company expects to use $10.5 million of of that to pay some of its senior secured term loan and the remainder for “operational and growth initiatives” but also general corporate purposes. […]

Waitr Pre-Announces Strong Second Quarter

Waitr, the Louisiana-based company that acquired Bite Squad and went public in 2018, shared some strong results ahead of its quarterly release after several difficult, money-losing quarters. According to Carl Grimstad, Waitr’s chairman and CEO, the strong performance is part COVID-19 and part sweeping changes the company undertook in late 2019 and early 2020. Those […]

Why Waitr expects to report its 1st profitable quarter since going public

Online food delivery company Waitr Holdings Inc. is projecting its first profitable quarter since the company went public in 2018 from a surge in demand caused by the coronavirus pandemic. Waitr estimates its second-quarter profit at $8 million compared to a $24.6 million loss for the same period a year ago. The company’s full balance sheet […]