Tag: food delivery
China’s food delivery giant Meituan hits $100B valuation amid pandemic
Meituan’s shares hit a record high on Tuesday, bringing its valuation to over $100 billion. The Hong Kong-listed giant, which focuses on food delivery with smaller segments in travel and transportation, is the third Chinese firm to reach the landmark valuation. Tencent and Alibaba respectively topped the number back in…
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Food apps in Chicago will soon show the premium you pay for delivery
In a first-of-its-kind policy change, the City of Chicago will require companies like DoorDash to disclose to customers how much restaurants pay when they order food using a delivery app. If you live in the city, you’ll see an itemized breakdown that… Source
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A Grubhub-Uber tie-up would remake the food delivery landscape
Earlier today news broke that Uber is pursuing an acquisition of Grubhub. The global ride-hailing giant is worth a multiple of the American food delivery service, making the tie-up financially feasible, provided that a palatable price can be found for both parties. The Wall Street Journal broke the news; you…
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Latin America Roundup: Big rounds, big mergers and a $3.8M pandemic fund from Nubank
Despite the global panic caused by the current pandemic, startups in Latin America have continued to attract international capital. In April, Mexico’s Alphacredit, Colombia’s Frubana and Brazil’s CargoX were among those that raised particularly large rounds to support their growth during this challenging time. All three companies target markets that…
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Uber Eats exits seven markets, transfers one as part of competitive retooling
Uber Eats is pulling out of a clutch of markets — shuttering its on-demand food offering in the Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Uruguay and Ukraine. It’s also transferring its Uber Eats business operations in the United Arab Emirates (UAE) to Careem, its wholly owned ride-hailing subsidiary that’s…
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Deliveroo cuts ~15% of staff as coronavirus challenges food delivery
Is it feast or famine for food delivery startups during the coronavirus pandemic? The UK’s Deliveroo has confirmed it’s axing more than 350 staff — or around 15% of its global headcount. Late yesterday the Telegraph reported that the London-based startup will be cutting 367 staff and furloughing a further 50…
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