Restaurant chain Chipotle Mexican Grill (NYSE: CMG) announced it participated in a funding round for self-driving vehicle startup firm Nuro. The investment was made in November 2020, but Chipotle’s participation was just revealed by the company.
“We are always seeking opportunities that provide innovative solutions for increasing access and convenience for our guests,” said Curt Garner, Chipotle’s chief technology officer. “Nuro could change the traditional delivery model and we believe...
Online ethnic grocery delivery platform Weee! announced it has raised $315 million in a Series D round led by DST Global, with participation from Tiger Global Management, Blackstone Group and Arena Holdings. The Fremont, California-based company has raised a total of $415 million, with Bloomberg reporting a $2.8 billion valuation.
Weee! caters to ethnic communities, mainly providing access to Asian and Hispanic foods. Weee! currently offers free delivery, on orders of $35 or more, for more than...
https://www.freightwaves.com/news/weee-raises-315m-to-expand-ethnic-grocery-delivery-network
Deliveroo, the Amazon (NASDAQ:AMZN) backed U.K. food delivery company, announced on Monday it will price its initial public offering in a range of $5.39 to $6.35 per share. If it goes public at that price range, it would value the company at nearly $12 billion.
Founded in 2013, Deliveroo announced it would go public on the London Stock Exchange with a time-limited, dual-class share structure that will ensure founder and CEO Will Shu retains a large role in moving the company forward.
“We are...
https://s29755.pcdn.co/news/amazon-backed-deliveroo-sets-ipo-price-valuation-near-12b
On Nov. 9, 2016 – the day after President Donald Trump’s election as president – a college student at Shippensburg University decided to make a difference. He just didn’t know how, but he was convinced it was not sitting in business classes at the university.
So the sophomore dropped out and started looking for his calling.
David Cabello told Modern Shipper that he and his twin brother, Aaron, started working at a bookstore. “I was 22 and had no money; I had to find work.”
A janitor at that...
Albertsons Companies, owners of the Safeway grocery chain, will test remote-controlled delivery robots from Tortoise. The test of the zero-emission carts will take place at a Safeway store in Northern California.
The cart, which can carry up to 120 pounds of groceries in four lockable containers, will travel at an average speed of 3 mph and be powered by an electric battery. The vehicle’s containers can support ambient temperatures, chilled or frozen. When the cart arrives at a home, the...
Applebee’s (NYSE: DIN) is the latest restaurant to jump into the ghost kitchen craze, launching several pilots across the country, DINE Brands CEO John Peyton announced on the company’s Q4 earnings call this week.
DINE is the parent company of Applebee’s and IHOP restaurants.
“Those who win in the new era of restaurants are those who remained resilient and those who invested in new menu and service innovations and new technology during 2020,” Peyton said.
In addition to ghost kitchen pilots in...
https://www.freightwaves.com/news/applebees-dives-into-ghost-kitchens-delivery-only-brands
In its first official earnings announcement since it went public in December, DoorDash (NYSE: DASH) reported new quarterly records for total orders, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and market share. But its quarterly loss more than doubled over Q4 2019.
The food delivery company reported 226% growth in revenue to $970 million in Q4 over 2019’s Q4 results, and 233% growth year-over-year in total orders to $273 million. Its Marketplace gross order...
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https://www.freightwaves.com/news/daily-infographic-uber-buys-postmates
F-Drones, a Singapore-based drone delivery service company, had claimed the city...
https://mfame.guru/singapores-first-commercial-drone-delivery-launched/