Grubhub

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GrubHub Inc.

logo
legal form Corporation
ISIN US4001101025
founding 2004
Seat Chicago , Illinois , United StatesUnited StatesUnited States 
management Matthew Maloney ( CEO )
Adam DeWitt ( President )
Number of employees 2.714
sales 1.31 billion USD (1.1 billion euros )
Branch Online services, delivery service
Website grubhub.com
As of December 31, 2019

GrubHub Inc. is a US delivery company based in Chicago, Illinois . In 2019, the company had over 22 million active users. The company works with 300,000 restaurants in over 4,000 cities in the United States and London .

In addition to the core brand GrubHub , the company portfolio includes the brands Seamless , LevelUp , AllMenus and MenuPages .

history

Seamless

Seamless logo

In 1999 the lawyer Jason Finger founded a web-based system for ordering food in restaurants under the name SeamlessWeb . The offer was initially aimed at companies. In 2005 SeamlessWeb introduced a free order service aimed at the consumer market, which made it possible to order food online and have it delivered to your home.

In April 2006, SeamlessWeb was bought by Aramark and integrated into their system.

In 2011 the competitor Menupages was taken over .

GrubHub

GrubHub was founded in 2004 by Mike Evans and Matt Maloney to provide an online alternative to paper-based menus for to-go restaurants and delivery services . Two years later, in 2006, Maloney and Evans won first place in the University of Chicago Booth School of Business’s Edward L. Kaplan New Venture Challenge for their GrubHub business idea .

In November 2007, GrubHub secured an initial USD 1.1 million financing led by venture capitalists Amicus Capital and Origin Ventures . Further financing rounds followed in March 2009 ($ 2 million, led by Origin Ventures and Leo Capital ), in November 2010 ($ 11 million, led by Benchmark Capital ), in March 2011 ($ 20 million , led by DAG Ventures ) and in September 2011 ($ 50 million led by Lightspeed Ventures ). At the same time, the company took over competitor Dotmenu .

Further takeovers took place in February 2015: GrubHub bought DiningIn and Restaurants on the Run. At the same time, the company announced that it no longer only wanted to act as a platform operator in the future, but would also take over the delivery of the food ordered. Previously, GrubHub had coordinated the orders, but the delivery was carried out by the restaurants themselves. In December 2015, GrubHub also took over the competitor Delivered Dish ; the following year the competitor LAbite .

2017 GrubHub was an agreement with Yelp one, Eat24 to buy for 287.5 million US dollars. At the end of 2018, Eat24 was finally discontinued, although the company had previously announced that it wanted to continue the brand.

In September 2018, GrubHub took over the online payment service LevelUp for 390 million US dollars as well as the remaining shares in the delivery service OrderUp , after parts of it had already been taken over in 2017. The acquisition was completed in October 2018.

In November 2018, the company acquired Tapingo delivery service for $ 150 million. Tapingo was aimed primarily at students and cooperated with 150 colleges and universities.

Merger and IPO

In May 2013, GrubHub announced that it wanted to merge with Seamless. Seamless made up 58% and GrubHub 42% of the equity of the merger. The merger was completed in early August.

In April 2014, the company went public on the New York Stock Exchange . The issue price was 26 US dollars per share.

Own delivery service

In June 2014, GrubHub announced that it would in future also deliver to restaurants that do not operate their own delivery service. Since then, the company has been delivering to all major US cities in which it is active (including Atlanta , Phoenix , Philadelphia , Los Angeles , San Francisco / Bay Area , Washington DC , Florida , Portland , Denver , Pittsburgh , Detroit , San Diego , Brooklyn , Chicago and Las Vegas ).

Four years later, in July 2018, GrubHub announced that it would expand into 28 more cities in the United States.

Competitors in the USA include Uber Eats , DoorDash , Postmates , EatStreet , Amazon restaurants and online restaurants .

In February 2020, GrubHub announced a subscription model called the GrubHub + . For the monthly price of $ 9.99, customers get unlimited deliveries from select restaurants with no separate delivery fee.

Takeover by Just Eat Takeaway

Just Eat Takeaway logo

On June 11, 2020, Just Eat Takeaway announced the acquisition of Grubhub for $ 75.15 per share.

In the previous weeks, there had been speculation about a takeover by the American competitor Uber after it became known on May 12, 2020 that Uber had previously submitted a takeover bid for GrubHub. Uber operates a delivery service under the name UberEATS , but unlike GrubHub, its availability is not limited to the USA (and London).

Controversy

After defeating Donald Trump in the United States presidential election that sent CEO of GrubHub, Matt Maloney, November 10, 2016 company-wide memo to all employees, in which he announced that he calls the "nationalist, anti-immigrant and hateful policy by Donald Trump ”. In addition, according to the Washington Times , Maloney asked those employees who did not follow this view to resign: "If you do not agree with this statement then please reply to this email with your resignation because you have no place here."

After calling for a boycott of the company on Twitter , Maloney later claimed his words had been misinterpreted, adding, "I want to make it clear that I have not asked anyone to quit if they voted for Trump . I would never make such a request. On the contrary: The message of the email was that we do not tolerate any discriminatory acts or hateful comments in the workplace and that we stand up for our employees. "

Business figures

In 2019, the company generated sales of nearly 1.31 billion US dollars .

Business figures in billion US dollars
year sales Profit Total assets Market value at the end of the year
2011 0.06 0.02 0.00
2012 0.08 0.01 0.20
2013 0.13 0.01 0.76
2014 0.25 0.02 0.98 3.03
2015 0.36 0.04 1.06 2.03
2016 0.49 0.05 1.20 3.20
2017 0.68 0.1 1.54 6.20
2018 1.00 0.08 2.07 6.89
2019 1.31 −0.02 2.38 4.30

Web links

Individual evidence

  1. ↑ Founding history. Inc., accessed June 4, 2020 .
  2. ↑ a b Executives. Grubhub, accessed June 4, 2020 .
  3. ↑ a b c 2019 Annual Report. Grubhub, February 28, 2020, accessed June 4, 2020 .
  4. ↑ Grubhub Reports First Quarter 2020 Results. June 5, 2020, accessed June 9, 2020 .
  5. ↑ About Us. Retrieved June 4, 2020 .
  6. ^ Bob Tedeschi: Ordering Takeout Online: A Dot-Com Idea Returns for a Second Try. New York Times, June 13, 2005, accessed June 4, 2020 .
  7. ^ Aramark Corp. has acquired SeamlessWeb Professional Solutions, Inc. Food Management, June 5, 2006, accessed June 4, 2020 .
  8. ↑ Joshua Brustein: Seamless Acquires Menupages in Race for Restaurants. The New York Times, September 26, 2011, accessed June 4, 2020 .
  9. ↑ GrubHub's CEO On The Shock Of Outgrowing Three Offices In A Few Short Years. February 22, 2012, accessed June 4, 2020 .
  10. ↑ Grubhub History. Retrieved June 9, 2020 .
  11. ↑ Grubhub.com Wins the University of Chicago New Venture Challenge. July 11, 2006, accessed June 9, 2020 .
  12. ↑ GrubHub Secures $ 1.1 Million in Series A Funding From Top Venture Firms. PR Newswire, November 13, 2007, accessed June 4, 2020 .
  13. ↑ Leena Rao: Food Delivery Service GrubHub Secures $ 2 Million In Series B Funding. techcrunsh.com, March 23, 2009, accessed June 4, 2020 .
  14. ↑ Verne G. Kopytoff: GrubHub Gets a cash delivery. The New York Times, November 8, 2010, accessed June 4, 2020 .
  15. ↑ Leena Rao: Exclusive: Food Delivery Search Engine GrubHub Raises $ 20 Million. techcrunsh.com, March 9, 2011, accessed June 4, 2020 .
  16. ↑ Joshua Brustein : GrubHub Raises Another $ 50 Million, Acquires Dotmenu. The New York Times, September 20, 2011, accessed June 4, 2020 .
  17. ↑ Sara Castellanos: GrubHub acquires Brighton online restaurant delivery service DiningIn. Boston Business Journal, February 5, 2015, accessed June 4, 2020 .
  18. ↑ Subrat Patnaik: UPDATE 2-GrubHub goes direct to diners after acquisitions. Reuters, February 5, 2015, accessed June 4, 2020 .
  19. ↑ Amina Elahi: GrubHub acquires Delivered Dish of Portland, Ore. Chicago Tribune, December 7, 2015, accessed June 4, 2020 .
  20. ↑ John Pletz: GrubHub's stock dips on slower growth. chicagobusiness.com, May 3, 2016, accessed June 4, 2020 .
  21. ↑ a b Grubhub to Buy Yelp's Eat24 for $ 287.5 million. The Associated Press, August 4, 2017, accessed June 4, 2020 .
  22. ↑ Erika Adams: Grubhub Shuts Down Eat24. SkiftTable, July 29, 2018, accessed June 4, 2020 .
  23. ↑ Grubhub Completes Acquisition of LevelUp. Grubhub, September 13, 2018, accessed June 4, 2020 .
  24. ↑ a b Grubhub Completes Acquisition of Tapingo. Grubhub, November 7, 2018, accessed June 4, 2020 .
  25. ↑ Lewis Lazare: GrubHub and Seamless complete merger. Chicago Business Journal, August 9, 2013, accessed June 4, 2020 .
  26. ↑ Ben Rooney: GrubHub IPO delivers: Up 31%. CNN Business, April 4, 2014, accessed June 9, 2020 .
  27. ↑ Grubhub Delivery Adds New Markets Nationwide. Grubhub, July 19, 2018, accessed June 4, 2020 .
  28. ↑ Lana Bandoim: GrubHub Launches New Subscription Program To Compete With Other Food Delivery Services. February 26, 2020, accessed on June 4, 2020 .
  29. ↑ Jonas Rest, Marleen Gründel: Ruinous competition between delivery services Why the Grubhub deal doesn't just bring Uber into trouble. Manager Magazin , June 11, 2020, accessed June 12, 2020 .
  30. ↑ Food delivery service Just Eat Takeaway swallows Grubhub. dpa via Süddeutsche Zeitung , June 11, 2020, accessed on June 12, 2020 .
  31. ↑ Just Eat Takeaway swallows GrubHub - GrubHub shares strong, Just Eat shares collapse in double digits. Finanz.net , June 11, 2020, accessed June 12, 2020 .
  32. ↑ Just Eat Takeaway could prevent Uber from taking over Grubhub. Onvista , June 10, 2020, accessed June 12, 2020 .
  33. ↑ Cara Lombardo: Uber Technologies Makes Takeover Approach to GrubHub. May 12, 2020, accessed June 9, 2020 .
  34. ↑ Douglas Ernst: Grubhub CEO tells pro-Trump employees they have 'no place' in company. Washington Times, November 10, 2016, accessed June 4, 2020 .
  35. ^ Inclusion and Tolerance in the Workplace. November 10, 2016, accessed June 9, 2020 .
  36. ↑ Sales figures 2011-2019. macrotrends.net, accessed June 4, 2020 .
  37. ↑ Profit 2011-2019. macrotrends.net, accessed June 4, 2020 .
  38. ↑ Balance sheet total 2011-2019. macrotrends.net, accessed June 4, 2020 .
  39. ↑ Market capitalization 2014-2019. macrotrends.net, accessed June 4, 2020 .