Tag: online food ordering
How COVID-19 accelerated DoorDash’s business
DoorDash filed to go public today, publishing numbers that showed rapid growth, enhanced profitability and an improving cash flow record which helped explain how the company had grown to a $16 billion valuation while private. The unicorn’s impending liquidity event will enrich a host of venture capital firms that bet…
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Opera’s OPay still plans Africa expansion on Nigerian super app
Opera’s Africa fintech startup OPay remains committed to building a multi-service super app in Nigeria as the foundation to expand on the continent. OPay also continues to operate ORide for limited passenger service — though the company is shifting the motorcycle ride-hail operation toward logistics businesses. These were some of…
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Tim Hortons eyes China coffee drinkers with Tencent investment
Canadian coffee-and-doughnut chain Tim Hortons has secured a heavyweight partner to further its China expansion. The company announced on its social media account (in Chinese) on Tuesday that it has landed funding from Tencent, the Chinese social networking and gaming giant, without disclosing the size of the proceeds. Tim Hortons…
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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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