Nestlé USA has announced the acquisition of Freshly, a New York-based startup for $1.5B and additional earnouts of up to $550 million based on future growth of the startup. Nestlé USA Chairman and CEO Steve Presley, said in a statement – “Consumers are embracing ecommerce and eating at home like never before. It’s an evolution…
Gurugram-based restaurant aggregator Zomato has made crucial changes in the leadership team. Akshant Goyal has been named the company’s new Chief Financial Officer (CFO) and Akriti Chopra will now lead people development for the company. An alumnus of IIM-Ahmedabad and Delhi College of Engineering, Akshant Goyal co-founded PinCap and served as its CFO prior to…
Ride-hailing giant Uber Technologies Inc has reportedly agreed on a deal to buy food-delivery app Postmates Inc for $2.65bn in an all-stock agreement. The development was first reported by Bloomberg News on Sunday, citing people familiar with the matter. According to the report, the deal has been approved by Uber’s board and might be confirmed…
Gurugram-based food delivery startup MOPP Foods Pvt. Ltd, which operates the brand Mad Over Parathas & Pakodas, recently announced that it has raised an undisclosed amount of angel funding. The funding round was led by Beer Cafe founder and CEO Rahul Singh. The funding round also saw participation from Samir Khurana (Advisor, AdvantEdge Founders VC),…
Foodtech unicorn Swiggy recently announced that it is planning to shut down its Mumbai-based on-demand premium food delivery service Scootsy. The Bengaluru-based company had acquired Scootsy in 2018 but let it operate as an individual entity. The company now plans to merge the brand under the bigger umbrella of its main brand to establish its…
Ecommerce giant Amazon recently announced that it is launching its food delivery services in India starting with Bengaluru. The recent development from Amazon comes just days after top local players Swiggy and Zomato reduce their workforce to tide over the coronavirus pandemic crisis. According to an Economic Times report, the firm had been planning to…
Just days after Zomato announced its decision to lay off employees, food delivery unicorn Swiggy also said that it is laying off 1,100 employees across functions over the next few days. In a blog written by Sriharsha Majety, Co-Founder and Chief Executive Officer, the company said, it will be laying off 1,100 employees across grades…
Ride hailing giant Uber is reportedly in advanced talks to takeover food delivery company GrubHub in an all stock deal. According to a Bloomberg report, the two companies could reach an agreement very soon. As soon as the news hit the market, shares of GrubHub jumped about 29% to $60.50, while those of Uber rose…
The ongoing coronavirus pandemic has forced businesses to get on their knees. The nationwide lockdown has started taking toll on businesses and food delivery companies are having a really tough time due to fear of catching the virus in consumer’s mind. Owing to the troubles because of the pandemic, food unicorn Swiggy is recently planning…
With long queues at grocery stores and society arranged vegetable marts, swarming online orders, delivery slots are overbooked, stocks are scarce, and people are struggling to get the basic cooking essentials in their households. Lining up at the supermarkets and being exposed to contacted surfaces isn’t the safest choice either, when social distancing is the…
Lunch marketplace MealPal recently announced a new initiative to drive $10 million in donations to restaurants impacted by the COVID-19 virus. Through the new program, anyone can donate a month of a MealPal membership to local restaurants. The rapid decline in restaurant sales since the COVID-19 outbreak is staggering. In a typical week, MealPal drives…
Bengaluru-based hyperlocal services provider Dunzo recently announced that it has raised $11mn in debt funding round from Alteria Capital. With the latest fund infusion, Dunzo is seeking to scale up its operations in the locations where the company is profitable. Kabeer Biswas, CEO, and Co-Founder of Dunzo said that the debt funding will help the…