Skip to main content

Meet goPuff, A Low-key Delivery Company Worth $1 Billion

image: goPuff

The food-delivery market is one with intense competition. The likes of DoorDash, Uber Eats, Postmates, Deliveroo, Swiggy, Just Eat, Yelp Eat 24, and more are steadily competing for global market share while also raising huge funding. Just recently, Deliveroo raised $575 million in a round led by Amazon. DoorDash has also raised $600 million Series G funding at a $12.6 billion valuation.

Amid the intense battle, it turns out there's one hot startup that has stayed low key to avoid the eye of rivals, but it seems word is getting out. That low-key hot startup is goPuff, an on-demand delivery service that was valued at $1 billion last November (after an investment), according to regulatory filings reviewed by The Information. goPuff ships products to customers from centrally located facilities -- as opposed to direct pickup from stores -- in 81 U.S. cities.

goPuff delivers beer, wine, liquor and even Juul pods

The company -- based in Philadelphia -- stocks more than 3,000 products at its facilities which it then ships to customers who order. This model is unique, compared to other major delivery apps that fetch products directly from stores. One advantage to goPuff's model is that it doesn't have to work-around a store's schedule, likely implying no surge delivery fees, price hikes, or middleman involved.

goPuff charges a flat $1.95 for deliveries. The company, founded in 2013, delivers beer, wine, liquor and even Juul pods, a difference to other delivery apps. It appears to have raised more than $150 million so far from investors. Other known stats about the company include:
  • Its launch of a 300,000 sq ft distribution center in New Jersey last December
  • Founded by Rafael Ilishayev and Yakir Gola, who both grew up in New Jersey
  • More than 500 employees
  • Operates 24/7 in some regions
  • Investors include e.ventures and Anthos Capital
goPuff is essentially a digital convenience store

goPuff makes for an interesting look for its ability to lie low while making waves in a very competitive market. The delivery and on-demand market at whole makes for an amusing read with its constant innovations and new initiatives. These include Ford's delivery robot, Uber's pilot of Jump in London, Brad Bao taking over as Lime CEO, Uber Eats global dominance, and Rappi's $1 billion raise from Softbank.

The Ultimate USB Hub at HYPER: Shop Now

Comments

Most Read Posts

Tencent Said To Purchase 10% Stake In Policybazaar

According to a Bloomberg report, Tencent has purchased a 10% stake in Policybazaar, an Indian online insurance aggregator that notably raised funding from the Softbank Vision Fund last year. According to Bloomberg, Tencent paid $150 million for the 10% stake, valuing the company at $1.5 billion. Tencent didn't actually make a direct investment into the company, but purchased half of a stake held by famed tech investor Tiger Global, according to Bloomberg. This entails Tiger Global, a New York-based investment firm that has backed and reaped profits from several high-profile tech companies, is the one on the receiving end of the transaction and not Policybazaar itself.

Tiger Global seems to have reaped good profits on its Policybazaar bet, having been known to have invested less than $100 million altogether in the company. Selling just half of its stake for $150 million indicates a healthy profit on its investment and possibly more profits from its remaining stake. Talks of Tiger …

Amazon Starts Shipping Echo Auto After More Than 1 Million Pre-orders

Amazon has began shipping the Echo Auto, one of the several new Alexa-enabled devices the company announced last year September. Alongside the Echo Auto, Amazon also unveiled several other Alexa-enabled gadgets including a microwave, clock, security camera and a smart plug.

Amazon tells TechCrunch over 1 million pre-orders were placed for the Echo Auto, signalling high interest in the device, which is basically a digital assistant for automobiles. Using the Echo Auto, car owners can link Amazon Alexa to their smartphones, and then perform several auto-related tasks such as playing music via car speakers, opening the garage door, finding the nearest gas station, and listening to the news while on the go, all via voice command.


Before now, the Echo Auto had only been available on an invite-only basis, with a few users having already set their hands on the device just in time for Christmas, according to Amazon VP Steve Rabuchin. Why the Echo Auto remained open only for pre-orders for so…

Mobileye and NIO Partner On Self-Driving Technology

Intel's Mobileye has announced a collaboration with Chinese electric car maker NIO on self-driving technology. The collaboration entails the development of a self-driving system by NIO on the foundation of Mobileye's own self-driving kit, with plans to mass-deploy the system beginning in China. The partnership also involves the purchase of specially configured NIO vehicles by Mobileye, marking NIO as the first large-scale automaker to have signed on to supply vehicles to the Intel-owned company. With such deal implying a potential increase in vehicle sales, NIO, whose stock has fallen more than 70% since it went public, shot up 38% during trading on news of its Intel partnership.

As part of their planned partnership, Mobileye will provide NIO with the design of a self-driving system built on the Mobileye AV Series, a custom kit comprised of a custom chip, hardware, and mapping and safety software developed by Mobileye. NIO will then build upon Mobileye's system to come up…

Blackstone Snags Majority Stake In MagicLab

Private equity juggernaut Blackstone has announced it's acquiring a majority stake in MagicLab, a company that's behind several popular online dating services including Badoo and Bumble. Blackstone's acquisition values MagicLab, which traces its roots to the launch of Badoo in 2006, at around $3 billion. Under the terms of the acquisition, Andrey Andreev, a Russian entrepreneur who launched and has led the company for more than a decade, will be selling his stake and stepping down, to be replaced by Whitney Wolfe Herd, the founder and CEO of Bumble.

MagicLab is a prosperous but somewhat low-key company that has been behind some globally recognised online brands. Focused on the online dating sector, MagicLab is behind some of the best-known brands in that scene, including Badoo, a dating service with more than 400 million users, and Bumble, a female-focused dating app that was launched in 2014 by Whitney Wolfe Herd, who's also a founding member of Tinder, another leadi…

PayPal To Take $500 Million Stake In Uber

Ahead of an IPO, Uber and PayPal have reached an agreement to extend their global payments partnership, with the latter agreeing to invest $500 million in the ride-hailing company. PayPal is paying $47 per share for a $500 million stake in Uber, giving the company a valuation of $78.8 billion.

This purchase is similar to one made by Salesforce in video-conferencing company Zoom ahead of its just recent public market debut. Salesforce invested $100 million in Zoom before the company debuted on the Nasdaq Stock Market. PayPal's Uber investment was announced by CEO Dan Schulman in a LinkedIn post and also made known in Uber's S-1 filing.


Schulman's post said both companies "intend to explore future commercial payment collaborations,", including working on Uber's digital wallet. Not much was made known in the announcement. Uber is set to debut soon on the public markets along with other companies like Slack and Fastly which recently filed for IPOs.

Slack and Uber…

CloudKitchens Said To Have Raised $400 Million From Saudi Fund

According to a report from the Wall Street Journal, Saudi Arabia's sovereign wealth fund has invested $400 million into CloudKitchens, a food startup led by Travis Kalanick, who is better known as a co-founder and former CEO of ride-hailing giant Uber. According to the Wall Street Journal, CloudKitchens completed an investment agreement with Saudi Arabia's wealth fund in January, and actually notched a deal that valued it at around $5 billion.

Kalanick, who is widely known for leading Uber from the ground up but amid series of controversies
that later led to his ouster, assumed a leadership role at CloudKitchens after acquiring a controlling stake for a reported $150 million early last year. As the aforementioned statement suggests, he didn't actually launch CloudKitchens from the ground up, but took a majority stake in the company shortly after his ouster from Uber.

CloudKitchens is an operator of so-called ghost kitchens, that is professional kitchens set up for the pre…

Instacart said to raise $271 million in additional funding

Amid a recent $600 million investment which valued Instacart at $7.6 billion, The company has now been reported to have taken an extra $271 million investment from firms including Tiger Global as a result of interest from more investors.
This report comes from Reuters and cites a source familiar with the matter. Instacart's recent $600 million round was led by D1 Capital, a new hedge fund led by former Viking Global Investors chief investment officer Daniel Sundheim said to be on track to have raised $4 billion in commitments after just launching recently.

As per Reuters, Several firms to have indicated interest including Tiger Global and existing investors Coatue Management and Valiant Capital. It also stated the deal had been filed earlier this month in Delaware. With this round included, Instacart would now have raised $1.9 billion in total equity cementing its position as one of the most funded startups in the e-commerce space with enough capital for expansive operations.

Oth…

LA based Mobile game developer Jam City reportedly prepping for IPO

image credit : Jam City

According to a new report from the Wall Street Journal, Mobile game developer Jam City is now preparing for an upcoming public offering which will see the 8 year old gaming startup debut on the public market with an aimed value of around $1 Billion according to the report.

Jam City till date has raised over $150 million in funding and has been behind several titles including Harry Potter: Hogwarts Mystery, Family Guy Another Freakin' Mobile Game, Marvel Avengers Academy which was added through an acquisition and several others which have stayed as top grossing apps with its Family Guy title recently crushing the $30 million revenue benchmark.





Jam City's most previous funding round stands as a very remarkable one with the Los Angeles based gaming studio which also counts locations across other cities raised $130 million in 2015 from South Korean major game publisher Netmarble.

With 6 acquisitions so far and several hit titles, Jam City which was notably …

BMW's Designworks and EVA Air collaborate for distinctive Business Class seat

BMW's creative consultancy unit Designworks just unveiled details of a collaboration with five star Taiwanese airline EVA Air for creation of a new peculiar, eccentric and novel business class seat.

Applying their first-hand experience of global cultures, Designworks worked on solutions to complement their own identity while reinforcing their unique, premium and global positioning.

The target for this collaboration was to steer away from a ‘conventional’ seat design to one crafted with a more unique and mature design made to create bold and differentiated experiences for passengers.





Challenging ‘conventional’ methods by focusing on the end-to-end passenger in-cabin experience, Designworks' output was focused on streamlining stowage, whilst maximizing spaces for productivity and entertainment.

“At a time where consumer expectations continue to rise across their daily brand interactions, mobility industries must constantly adapt to rapidly changing customer needs”, Design Direc…