Instacart raised $265 million, it said Tuesday.
The money could go toward lowering fees or adding perks to attract new retailers.
But experts say DoorDash will soon be a strong competitor in the grocery delivery space.
It seems like the sky s the limit for what customers can get delivered from Instacart and for how much capital the company can raise.
The company raised another $265 million from previous backers including Andreessen Horowitz, Sequoia Capital, and D1 Capital Partners, it said Tuesday. The latest round of funding more than doubled its valuation to $39 billion. They continue to be brilliant at raising money, Phil Lempert, a grocery analyst said. And as the company looks to IPO this year, that cash hides a lot of sins, he said.
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Olo is poised to be a leader in the online food delivery market which is expected to reach $470 billion by 2025.
Unlike third-party delivery companies, Olo turned a profit in 2020.
Olo plans to step up growth by pursuing well capitalized top restaurant brands.
Editor s note: This piece was originally published on February 22, 2021, and updated on March 9, 2021, with information on stock price range.
Two years before the iPhone was released, Noah Glass saw the potential for diners to use the phone to streamline dinner orders and for restaurants to take control of their digital destiny. Fast forward more than a decade
Insider Retail: The US largest restaurant operator bets big on Wendy s and Pizza Hut, as Walmart eyes the launch of a new health startup dsantana@businessinsider.com (Danni Santana)
Hello! Welcome to the latest edition of Insider Retail.
Many predictions were made about the future of retail and restaurants in 2021 such as which brands will look to IPO and what trends prompted by the coronavirus are most likely to remain intact after the pandemic subsides.
And early on, we re seeing some of the biggest players make good on those predictions. This week, we re breaking down Flynn Restaurant Group s $550 million gamble on Wendy s and Pizza Hut stores. Walmart is also secretly launching a new health initiative aimed at helping customers make healthier choices. What s that about?
Hello! Welcome to the latest edition of Insider Retail.
Many predictions were made about the future of retail and restaurants in 2021 such as which brands will look to IPO and what trends prompted by the coronavirus are most likely to remain intact after the pandemic subsides.
And early on, we re seeing some of the biggest players make good on those predictions. This week, we re breaking down Flynn Restaurant Group s $550 million gamble on Wendy s and Pizza Hut stores. Walmart is also secretly launching a new health initiative aimed at helping customers make healthier choices. What s that about?
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