Uber, after tactically capitalizing on its penetration in the shared-economy market, swiftly moved into food-delivery – aiming to become a market leader in both ride-shares and food delivery. Now, in an effort to increase user-ship and cross-usage, Uber is aiming to embed UberEats into the current Uber app.
But what about other food-delivery apps and companies?
We used Cyndx Finder to discover alternative food-delivery services around the globe. To do this, we ran a search combining UberEats.com with the concept of ‘Food Delivery’. The result is 496 companies, of which 363 are private.
Looking into these companies further, we can see the Top 3 Public companies are:
- Grubhub, with an enterprise value of $7bn and an EV/EBITDA value of 44.7
- Yelp, with an enterprise value of $2.26bn and an EV/EBITDA value of 30.57
- HelloFresh, with an enterprise value of $922M; its EV/EBITDA is not defined with its negative EBITDA ($82.9M)
From this, it is clear that both Grubhub and Yelp are successfully operating in the market. Both of the companies were founded in 2004 in the US.
Next, identifying at recent acquisitions and capital raises, we can see that
- Bite Squad, a restaurant delivery service provider based in Minneapolis, was acquired by Waitr Holdings for $330M in January 2019. This is very apt, as Waitr Holdings is a market leader in on-demand food ordering and delivery, and thus seemed to be looking to expand through its subsidiaries.
- ezCater, an online food-ordering and delivering company based in Boston, recently raised $203M in a series D raise in April 2019.
Leading Investors in this food-delivery market include
- Benchmark, investing 17 times in 5 companies
- Y Combinator, investing 17 times in 7 companies
- Sequioa Capital, investing 15 times in 3 companies
Interestingly, all three firms invested in Doordash, whose funding recently pushed past $1bn.
Finally, the top recommended firms in the list, are
- Sgnam (recently rebranded as MyMenu), a private Italian-based company that specializes in delivering local, italian cuisine
- ZULAFOOD, a Texas on-demand restaurant marketing and delivery service
- Caviar, a delivery solution for consumers to order food
Reach out to us here to try it out for yourself and see what you can uncover using Cyndx Finder.