News Category: Company
Grubhub Expands Turnkey Delivery Service to Las Vegas
Industry Leader to Provide Delivery Capabilities to Restaurants Without In-House Delivery Staff
CHICAGO, May 9, 2016 /PRNewswire/ — Grubhub, the nation’s leading online and mobile food-ordering and delivery platform, announced today that it has expanded its turnkey delivery service to the Las Vegas area. Through this service, restaurants in Las Vegas and surrounding areas including Summerlin and Spring Valley, can now expand their customer base and grow their order volume by utilizing Grubhub’s on-the-ground network of delivery drivers. With more restaurants offering their menus for delivery, Grubhub is able to bring a broader set of restaurant choices to diners.
Grubhub’s online ordering platform has been available in Las Vegas since 2011 and connects Las Vegas area diners with more than 500 local restaurants. With the addition of Grubhub’s turnkey delivery service, Las Vegas diners now have a growing number of new delivery options to choose from. Local favorites using this delivery service include:
- Jessie Rae’s BBQ – 5611 S Valley View Blvd and 10648 S Maryland Pkwy locations
- Truffles and Bacon
- Amore Taste of Chicago
- Itsy Bitsy Ramen and Whisky
- The Perch
“The Las Vegas area restaurant scene is as diverse and colorful as the city itself,” said Stan Chia, SVP of operations, “With Grubhub’s turnkey delivery service, we are able to seamlessly integrate into our restaurant partners’ operations and manage delivery logistics for them while driving more orders, providing more local favorites for Las Vegas residents to choose from.”
Grubhub’s national scale lowers the overall cost of delivery to diners, which in turn, helps encourage diner loyalty. And when Grubhub handles the delivery, restaurants can focus on making great food. The efficiency of Grubhub’s delivery service, combined with great food, creates a win-win for local restaurants and diners.
“We love serving our customers delicious barbecue that keeps them coming back for more,” said Mike Ross, Owner of Jessie Rae’s Barbecue. “With Grubhub’s technology, we are able to focus on our award-winning barbecue, while they focus on getting our food to new and existing customers.”
Diners benefit from:
- Choice: We connect diners with the nation’s largest restaurant network, which includes more than 40,000 of the best restaurants across the country.
- No Mark-Ups: We do not pad menu prices. Diners can rest assured that they are paying the same prices as if they ordered directly from the restaurant and all fees are clearly presented.
- Low Fees: We offer industry low delivery fees nationwide, versus most other services.
- Transparency: We empower diners with the ability to customize and control each order to meet their dietary needs.
- Service: We take care of our diners; every order is backed by our diner-focused, 24/7 Care team.
Restaurants benefit from:
- More Orders: We drive significant order volume. Restaurants receive an average of 30 percent more takeout orders during their first year on the platform.
- Broadest Reach: We connect restaurants with our industry-leading network of more than 6.9 million diners.
- High ROI: We enable restaurants to participate on our platform with low risk and no up-front cost.
- Efficiency: We drive efficiency for restaurant partners; ordering via Seamless is 50 percent more efficient than ordering via phone.
- Competitive Commission Rates: Our industry-leading scale allows us to offer a cost-effective commission rate. Almost all restaurants using our delivery service pay a combined marketing + delivery commission that is less than 30%.
Grubhub’s turnkey delivery service launched in June of 2014 and has since expanded to more than 50 markets across the country. Recently, Grubhub announced relationships with a number of national chain restaurants, including Boston Market, Johnny Rocket’s, California Pizza Kitchen, Veggie Grill and Panda Express.
To find takeout restaurants available in your area, check out Grubhub.com. If you are interested in becoming part of the Grubhub Delivery team, please visit driver.grubhub.com. To find out how your restaurant can join Grubhub, check out get.grubhub.com. To learn more about Grubhub and its portfolio of brands, please visit http://media.grubhub.com.
About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 40,000 restaurant partners in over 1,000 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.
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Grubhub Reports Record First Quarter Results
Grubhub generates 27% revenue growth in the first quarter
CHICAGO, May 3, 2016 /PRNewswire/ — Grubhub Inc. (NYSE: GRUB), the leading takeout marketplace, today announced financial results for the quarter ended March 31, 2016.
“We had a strong start to 2016, generating a record $713 million in gross food sales during the quarter, even with significant headwinds from weather,” said Matt Maloney, CEO. “Revenue grew 27%, driven by the continued expansion of quality restaurants through Grubhub delivery, improvements in our technology platform and the rollout of our updated Grubhub branding.”
First Quarter 2016 Highlights
The following results reflect the financial performance and key operating metrics of our business for the three months ended March 31, 2016 as compared to the same period in 2015.
First Quarter Financial Highlights
- Revenues: $112.2 million, a 27% year-over-year increase from $88.2 million in the first quarter of 2015.
- Non-GAAP Adjusted EBITDA: $32.4 million, a 15% year-over-year increase from $28.3 million in the first quarter of 2015.
- Net Income: $9.9 million, or $0.12 per diluted share, a 6% year-over-year decrease from $10.6 million, or $0.12 per diluted share, in the first quarter of 2015.
- Non-GAAP Net Income: $17.2 million, or $0.20 per diluted share, a 15% year-over-year increase from $14.9 million, or $0.18 per diluted share.
First Quarter Key Business Metrics Highlights
- Active Diners were 6.97 million, a 24% year-over-year increase from 5.60 million Active Diners in the first quarter of 2015.
- Daily Average Grubs were 267,800, a 14% year-over-year increase from 234,700 Daily Average Grubs in the first quarter of 2015.
- Gross Food Sales were $713 million, a 21% year-over-year increase from $590 million in the first quarter of 2015.
Delivery
The Company has entered into an agreement to acquire LAbite, one of the largest restaurant delivery services in the U.S. In 2015, LAbite diners ordered almost $80 million in gross food sales, with most of the volume coming from the greater Los Angeles area.
“We are excited by the acquisition of LAbite as it adds to the tremendous strides we’ve made in expanding the breadth and depth of our delivery network and boosts our presence in an important market,” noted Maloney. “With more than 5,000 restaurants now using Grubhub delivery and our total network comprised of more than 44,000 restaurants, we are making great progress towards fulfilling our goal of being the most comprehensive marketplace for takeout diners and restaurants.”
Excluding the pending acquisition of LAbite, Grubhub is now delivering annual gross food sales volume of approximately $250 million. This compares to almost no delivery volume at the beginning of 2015.
Credit Facility
On April 29, 2016, the Company entered into a revolving credit facility. The credit facility will be available to the Company until April 28, 2021 and provides for a commitment of $185 million and the ability to increase the line under certain conditions up to $215 million.
Second Quarter and Full Year 2016 Guidance*
Based on information available as of May 3rd, 2016, the company is providing the following financial guidance for the second quarter and full year of 2016:
Second Quarter 2016 |
Full Year 2016 |
||
(in millions) |
|||
Expected revenue range |
$109 – $111 |
$450 – $465 |
|
Expected Adjusted EBITDA range |
$29 – $31 |
$122 – $130 |
*The above guidance excludes any impact from Grubhub’s pending acquisition of LAbite. The Company will update guidance to include LAbite when the acquisition closes.
First Quarter 2016 Financial Results Conference Call: Grubhub will webcast a conference call today at 9 a.m. CT to discuss the first quarter 2016 financial results. The webcast can be accessed on the Grubhub Investor Relations website at http://investors.grubhub.com, along with the company’s earnings press release and financial tables. A replay of the webcast will be available at the same website until May 17, 2016.
About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 44,000 restaurant partners in over 1,000 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.
Use of Forward Looking Statements:
This press release contains forward-looking statements regarding our management’s future expectations, beliefs, intentions, goals, strategies, plans and prospects, including the expected financial performance of Grubhub following its recent acquisitions and investment in delivery. Such statements constitute “forward-looking” statements, which are subject to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and assumptions that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to, the matters set forth in the filings that we make with the Securities and Exchange Commission from time to time, including those set forth in the section entitled “Risk Factors” in our Annual Report on Form 10-K filed on February 26, 2016, which are on file with the SEC and are available on the Investor Relations section of our website at http://investors.grubhub.com/. Additional information will be set forth in our Quarterly Report on Form 10-Q that will be filed for the quarter ended March 31, 2016, which should be read in conjunction with these financial results. Please also note that forward-looking statements represent our management’s beliefs and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to publicly update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information, becomes available in the future.
Use of Non-GAAP Financial Measures
Adjusted EBITDA, non-GAAP net income and non-GAAP net income per diluted share attributable to common stockholders are financial measures that are not calculated in accordance with accounting principles generally accepted in the United States, or GAAP.
We define Adjusted EBITDA as net income adjusted to exclude acquisition and restructuring costs, income taxes, depreciation and amortization and stock-based compensation expense. Non-GAAP net income and non-GAAP net income per diluted share attributable to common stockholders exclude acquisition and restructuring costs, amortization of acquired intangible assets, stock-based compensation expense and other nonrecurring items as well as the income tax effects of these non-GAAP adjustments. We use these non-GAAP financial measures as key performance measures because we believe they facilitate operating performance comparisons from period to period by excluding potential differences primarily caused by variations in capital structures, tax positions, the impact of acquisitions and restructuring, the impact of depreciation and amortization expense on our fixed assets and the impact of stock-based compensation expense. Adjusted EBITDA, non-GAAP net income and non-GAAP net income per diluted share attributable to common stockholders are not measurements of our financial performance under GAAP and should not be considered as an alternative to performance measures derived in accordance with GAAP.
See “Schedule of Non-GAAP Financial Measures Reconciliation” below for a reconciliation of net income to Adjusted EBITDA, non-GAAP net income and non-GAAP net income per diluted share attributable to common stockholders.
GRUBHUB INC. |
|||||||
STATEMENTS OF OPERATIONS (in thousands, except per share data) |
|||||||
Three Months Ended March 31, |
|||||||
2016 |
2015 |
||||||
Revenues |
$ |
112,240 |
$ |
88,249 |
|||
Costs and expenses: |
|||||||
Sales and marketing |
28,833 |
24,107 |
|||||
Operations and support |
34,987 |
22,701 |
|||||
Technology (exclusive of amortization) |
10,192 |
7,666 |
|||||
General and administrative |
13,589 |
9,101 |
|||||
Depreciation and amortization |
7,308 |
6,249 |
|||||
Total costs and expenses |
94,909 |
69,824 |
|||||
Income before provision for income taxes |
17,331 |
18,425 |
|||||
Provision for income taxes |
7,398 |
7,855 |
|||||
Net income attributable to common stockholders |
$ |
9,933 |
$ |
10,570 |
|||
Net income per share attributable to common stockholders: |
|||||||
Basic |
$ |
0.12 |
$ |
0.13 |
|||
Diluted |
$ |
0.12 |
$ |
0.12 |
|||
Weighted-average shares used to compute net income per share attributable to common stockholders: |
|||||||
Basic |
84,710 |
82,783 |
|||||
Diluted |
85,699 |
85,098 |
KEY OPERATING METRICS |
|||||||
Three Months Ended March 31, |
|||||||
2016 |
2015 |
||||||
Active Diners (000s) |
6,970 |
5,604 |
|||||
Daily Average Grubs |
267,800 |
234,700 |
|||||
Gross Food Sales (millions) |
$ |
712.8 |
$ |
589.9 |
GRUBHUB INC. |
|||||||
CONSOLIDATED BALANCE SHEETS |
|||||||
(in thousands, except share data) |
|||||||
March 31, 2016 |
December 31, 2015 |
||||||
ASSETS |
|||||||
CURRENT ASSETS: |
|||||||
Cash and cash equivalents |
$ |
203,312 |
$ |
169,293 |
|||
Short term investments |
121,129 |
141,448 |
|||||
Accounts receivable, less allowances for doubtful accounts |
51,414 |
42,051 |
|||||
Prepaid expenses |
3,578 |
3,482 |
|||||
Total current assets |
379,433 |
356,274 |
|||||
PROPERTY AND EQUIPMENT: |
|||||||
Property and equipment, net of depreciation and amortization |
24,226 |
19,082 |
|||||
OTHER ASSETS: |
|||||||
Other assets |
3,383 |
3,105 |
|||||
Goodwill |
396,220 |
396,220 |
|||||
Acquired intangible assets, net of amortization |
280,772 |
285,567 |
|||||
Total other assets |
680,375 |
684,892 |
|||||
TOTAL ASSETS |
$ |
1,084,034 |
$ |
1,060,248 |
|||
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|||||||
CURRENT LIABILITIES: |
|||||||
Restaurant food liability |
$ |
74,375 |
$ |
64,326 |
|||
Accounts payable |
4,176 |
8,189 |
|||||
Accrued payroll |
3,805 |
4,841 |
|||||
Taxes payable |
423 |
426 |
|||||
Other accruals |
15,699 |
11,830 |
|||||
Total current liabilities |
98,478 |
89,612 |
|||||
LONG TERM LIABILITIES: |
|||||||
Deferred taxes, non-current |
84,262 |
87,584 |
|||||
Other accruals |
5,523 |
5,456 |
|||||
Total long term liabilities |
89,785 |
93,040 |
|||||
Commitments and contingencies |
|||||||
STOCKHOLDERS’ EQUITY: |
|||||||
Common stock, $0.0001 par value |
8 |
8 |
|||||
Accumulated other comprehensive loss |
(826) |
(604) |
|||||
Additional paid-in capital |
767,756 |
759,292 |
|||||
Retained earnings |
128,833 |
118,900 |
|||||
Total Stockholders’ Equity |
$ |
895,771 |
$ |
877,596 |
|||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
$ |
1,084,034 |
$ |
1,060,248 |
GRUBHUB INC. |
|||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS |
|||||||
(in thousands) |
|||||||
Three Months Ended March 31, |
|||||||
2016 |
2015 |
||||||
CASH FLOWS FROM OPERATING ACTIVITIES |
|||||||
Net income |
$ |
9,933 |
$ |
10,570 |
|||
Adjustments to reconcile net income to net cash from operating activities: |
|||||||
Depreciation |
1,344 |
1,215 |
|||||
Provision for doubtful accounts |
443 |
93 |
|||||
Deferred taxes |
(3,321) |
1,219 |
|||||
Amortization of intangible assets |
5,964 |
5,034 |
|||||
Stock-based compensation |
6,901 |
3,007 |
|||||
Other |
26 |
239 |
|||||
Change in assets and liabilities, net of the effects of business acquisitions: |
|||||||
Accounts receivable |
(9,956) |
(11,862) |
|||||
Prepaid expenses and other assets |
(136) |
255 |
|||||
Restaurant food liability |
10,081 |
24,376 |
|||||
Accounts payable |
(5,434) |
(1,826) |
|||||
Accrued payroll |
(1,034) |
(3,146) |
|||||
Other accruals |
3,855 |
1,248 |
|||||
Net cash provided by operating activities |
18,666 |
30,422 |
|||||
CASH FLOWS FROM INVESTING ACTIVITIES |
|||||||
Purchases of investments |
(56,227) |
(37,068) |
|||||
Proceeds from maturity of investments |
76,615 |
38,060 |
|||||
Capitalized website and development costs |
(2,331) |
(1,213) |
|||||
Purchases of property and equipment |
(3,259) |
(441) |
|||||
Acquisitions of businesses, net of cash acquired |
— |
(55,506) |
|||||
Acquisition of other intangible assets |
(250) |
— |
|||||
Other cash flows from investing activities |
(173) |
— |
|||||
Net cash provided by (used in) investing activities |
14,375 |
(56,168) |
|||||
CASH FLOWS FROM FINANCING ACTIVITIES |
|||||||
Repurchases of common stock |
(9,771) |
— |
|||||
Proceeds from exercise of stock options |
1,012 |
5,823 |
|||||
Excess tax benefits related to stock-based compensation |
10,610 |
6,492 |
|||||
Taxes paid related to net settlement of stock-based compensation awards |
(682) |
— |
|||||
Net cash provided by financing activities |
1,169 |
12,315 |
|||||
Net change in cash and cash equivalents |
34,210 |
(13,431) |
|||||
Effect of exchange rates on cash |
(191) |
(210) |
|||||
Cash and cash equivalents at beginning of year |
169,293 |
201,796 |
|||||
Cash and cash equivalents at end of the period |
$ |
203,312 |
$ |
188,155 |
|||
SUPPLEMENTAL DISCLOSURE OF NON CASH ITEMS |
|||||||
Fair value of common stock issued for acquisitions |
$ |
— |
$ |
15,980 |
NON-GAAP FINANCIAL MEASURES RECONCILIATION (in thousands, except per share data) |
||||||
Three Months Ended March 31, |
||||||
2016 |
2015 |
|||||
Net income |
$ |
9,933 |
$ |
10,570 |
||
Income taxes |
7,398 |
7,855 |
||||
Depreciation and amortization |
7,308 |
6,249 |
||||
EBITDA |
24,639 |
24,674 |
||||
Acquisition and restructuring costs |
831 |
569 |
||||
Stock-based compensation |
6,901 |
3,007 |
||||
Adjusted EBITDA |
$ |
32,371 |
$ |
28,250 |
Three Months Ended March 31, |
||||||
2016 |
2015 |
|||||
Net income |
$ |
9,933 |
$ |
10,570 |
||
Stock-based compensation |
6,901 |
3,007 |
||||
Amortization of acquired intangible assets |
5,045 |
4,115 |
||||
Acquisition and restructuring costs |
831 |
569 |
||||
Income tax adjustments |
(5,469) |
(3,330) |
||||
Non-GAAP net income |
$ |
17,241 |
$ |
14,931 |
||
Weighted-average diluted shares used to compute net income per share attributable to common stockholders |
85,699 |
85,098 |
||||
Non-GAAP net income per diluted share attributable to common stockholders |
$ |
0.20 |
$ |
0.18 |
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GrubHub Inc. Q1 2016 Earnings Call
Grubhub Expands Turnkey Delivery Service to Chicago Suburbs
Ordering and Delivery Platform Achieves Speed, Breadth and Depth of Delivery Coverage, With Low Fees, in a Broader Swath of Chicagoland
CHICAGO, May 2, 2016 /PRNewswire/ — Grubhub, the nation’s leading food ordering and delivery platform — founded and headquartered in Chicago — has expanded its turnkey delivery service to reach even more Chicagoland diners. The expansion includes Skokie, Evanston, Park Ridge and Northfield as well as extending its city coverage south to Hyde Park, and many neighborhoods in between. Diners are benefitting from the ability of Grubhub’s vast, reliable driver network to deliver food from the most local favorites and top-rated restaurants in about 30 minutes. Concurrently, restaurants are benefitting from exposure to more Grubhub diners and a reliable service; they are seeing a significant increase in order volume and gross food sales.
“Chicago is where we first started testing our delivery service in 2014. Since then, we’ve learned a lot about how to efficiently and effectively expand our coverage while maintaining the lowest overall cost in the industry and providing fast delivery times,” said Matt Maloney, CEO of Grubhub. “We’re proud that we’ve been able to expand our delivery area to more of our hometown, bringing high-quality choices to a wider set of diners and a valuable service to our restaurant partners.”
Through Grubhub’s turnkey delivery service, restaurants can expand their customer base by tapping into the company’s massive diner network and grow their order volume by utilizing the company’s on-the-ground network of delivery drivers. The Grubhub online and mobile ordering platform connects Chicagoland diners with more than 3,000 of the best local restaurants.
With the addition of its turnkey delivery service, Grubhub is managing delivery for some of the hottest restaurants in the city and suburbs, and is growing its coverage rapidly. In March alone, Grubhub grew the number of Chicago delivery restaurant partners by nearly 30 percent, while month-over-month gross food sales increased by more than 17 percent.
“We’ve been blown away by the volume of delivery and takeout orders we receive from Grubhub,” said Andrew Figgins, co-owner of WHISK. “The delivery service is ultra-convenient. It helps us reach more customers through delivery while still being able to focus on what is important to us, which is making great brunch and great burgers.”
Diners in Chicago and the suburbs now have more great delivery options to choose from, including local favorites using Grubhub’s’ delivery service such as:
Chicago Restaurants:
- WHISK (West Town)
- Wyler Road (Logan Square)
- The Jibarito Stop (Pilsen)
- Gus’s World Famous Fried Chicken (West Loop)
- Native Foods (Hyde Park)
Northwest Suburb Restaurants:
- Tapas Gitana (Northfield)
- Snap Kitchen (Park Ridge)
- Cream of the Crepe (Park Ridge)
- Amazing Kale Burger (Evanston)
- Boltwood (Evanston)
- Ten Mile House (Evanston)
“As we have expanded our presence across Chicagoland, Grubhub’s delivery service has made it easy for us to quickly make each location available for delivery,” said Elaine Krackau, public relations specialist at Snap Kitchen. “Through Grubhub’s vast diner network, we’re able to introduce our made from scratch, healthy take-away meals to more customers while leaving the delivery logistics to the Grubhub experts.”
Grubhub delivers tremendous benefits to restaurants and diners.
Diners benefit from:
- Choice: We connect diners with the nation’s largest restaurant network, which includes more than 40,000 of the best restaurants across the country.
- No Mark-Ups: We do not pad menu prices. Diners can rest assured that they are paying the same prices as if they ordered directly from the restaurant and all fees are clearly presented.
- Low Fees: We offer industry low delivery fees of $1.50- $3.00 nationwide, versus most others at more than $5.
- Transparency: We empower diners with the ability to customize and control each order to meet their dietary needs.
- Service: We take care of our diners; every order is backed by our diner-focused, 24/7 Care team.
Restaurants benefit from:
- More Orders: We drive significant order volume. Restaurants receive an average of 30 percent more takeout orders during their first year on the platform.
- Broadest Reach: We connect restaurants with our industry-leading network of more than 6.7 million diners.
- High ROI: We enable restaurants to participate on our platform with low risk and no up-front cost.
- Efficiency: We drive efficiency for restaurant partners; ordering via Seamless is 50 percent more efficient than ordering via phone.
- Competitive Commission Rates: Our industry-leading scale allows us to offer a cost-effective commission rate. Almost all restaurants using our delivery service pay a combined marketing + delivery commission that is less than 30%.
To find takeout restaurants available in your area, check out Grubhub.com. If you are interested in becoming part of the Grubhub Delivery team, please visit driver.grubhub.com. To find out how your restaurant can join Grubhub, check out get.grubhub.com. To learn more about Grubhub and its portfolio of brands, please visit http://media.grubhub.com.
About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 40,000 restaurant partners in over 1,000 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.
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Grubhub To Announce First Quarter 2016 Financial Results On May 3, 2016
CHICAGO, April 21, 2016 /PRNewswire/ — Grubhub Inc. (NYSE: GRUB), the nation’s leading online and mobile food-ordering and delivery platform, today announced that it will host a conference call to discuss its first quarter financial results on Tuesday, May 3rd, 2016, at 9:00 a.m. Central Time, following the release of the Company’s financial results. Matt Maloney, CEO, and Adam DeWitt, CFO will host the webcast.
The live webcast of the conference call will be available on the investor relations section of the Grubhub website at http://investors.grubhub.com/. Following completion of the call, a recorded replay of the webcast will be available on the website.
About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 40,000 restaurant partners in over 1,000 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.
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Seamless Expands Turnkey Delivery Service to New York City’s Outer Boroughs
Ordering and Delivery Platform Achieves Speed, Breadth and Depth of Delivery Coverage, With Low Fees, in NYC
NEW YORK, April 13, 2016 /PRNewswire/ — Seamless, the iconic New York City food ordering and delivery platform, has launched its turnkey delivery service in the outer boroughs of New York City. Diners are benefitting from the ability of the vast, reliable driver network to deliver food from the most local favorites and top-rated restaurants in about 30 minutes. Concurrently, restaurants are reaping the benefits of exposure to more Seamless diners and a reliable service; they are seeing a significant increase in order volume and gross food sales.
For example, Seamless’ turnkey delivery service enabled Aita Trattoria in Brooklyn to double their order volume in just over two months. Additionally, the beloved Italian restaurant achieved an increase of 98 percent in gross food sales during that same time period.
“New York is the mecca of food delivery, and that’s in large part because Seamless transformed online and mobile ordering in the city,” said Matt Maloney, CEO of Seamless. “But the city’s takeout culture extends far beyond Manhattan to the outer boroughs, where some of today’s most unique and innovative restaurants are making amazing food. We’re proud to bring fast, professional delivery to restaurants in Brooklyn and Astoria that did not previously operate their own service, and to bring more local favorites to our outer borough diners.”
Through Seamless’ turnkey delivery service, restaurants in Brooklyn and Astoria can expand their customer base by tapping into the company’s massive New York City diner network and grow their order volume by utilizing the company’s on-the-ground network of delivery drivers. The Seamless online and mobile ordering platform connects New York City diners with more than 11,000 local restaurants.
With the addition of its turnkey delivery service, Seamless is managing delivery for some of the hottest restaurants in the outer boroughs, and is growing its coverage rapidly. In February alone, Seamless’ network of outer borough delivery restaurant partners grew by 32 percent, while gross food sales increased by 57 percent.
New York diners in Brooklyn and Astoria now have more great delivery options to choose from, including local favorites using Seamless’ turnkey delivery service such as:
Astoria Restaurants:
Brooklyn Restaurants:
“Our goal is to make delicious food and keep customers coming back for more,” said Keizo Shimamoto, owner of The Original Ramen Burger. “With Seamless, we love that our customers can now enjoy our iconic Ramen Burgers in our restaurant or from the comfort of their own home.”
Seamless delivers tremendous benefits to restaurants and diners.
Diners benefit from:
- Choice: We connect diners with the nation’s largest restaurant network, which includes more than 40,000 of the best restaurants across the country.
- No Mark-Ups: We do not pad menu prices. Diners can rest assured that they are paying the same prices as if they ordered directly from the restaurant and all fees are clearly presented.
- Low Fees: We offer industry low delivery fees of $1.50-3.00 nationwide, versus most others at more than $5.
- Transparency: We empower diners with the ability to customize and control each order to meet their dietary needs.
- Service: We take care of our diners; every order is backed by our diner-focused, 24/7 Care team.
Restaurants benefit from:
- More Orders: We drive significant order volume. Restaurants receive an average of 30 percent more takeout orders during their first year on the platform.
- Broadest Reach: We connect restaurants with our industry-leading network of more than 6.7 million diners.
- High ROI: We enable restaurants to participate on our platform with low risk and no up-front cost.
- Efficiency: We drive efficiency for restaurant partners; ordering via Seamless is 50 percent more efficient than ordering via phone.
To find takeout restaurants available in your area, check out Grubhub.com. If you are interested in becoming part of the Grubhub Delivery team, please visit driver.grubhub.com. To find out how your restaurant can join Grubhub, check out get.grubhub.com. To learn more about Grubhub and its portfolio of brands, please visit http://media.grubhub.com.
About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 40,000 restaurant partners in over 1,000 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.
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Grubhub Expands Turnkey Delivery Service to San Diego
Industry Leader to Provide Delivery Capabilities to Restaurants Without In-House Delivery Staff
CHICAGO, April 6, 2016 /PRNewswire/ — Grubhub, the nation’s leading online and mobile food-ordering and delivery platform, announced today that it has expanded its turnkey delivery service to the San Diego area. Through this service, restaurants in San Diego, many of which did not previously offer delivery, can now expand their customer base and grow their order volume by utilizing Grubhub’s on-the-ground network of delivery drivers. With more restaurants offering their menus for delivery, Grubhub is able to bring a broader set of restaurant choices to diners.
Grubhub’s online ordering platform has been available in San Diego since 2010 and connects San Diego area diners with more than 800 local restaurants. With the addition of Grubhub’s turnkey delivery service, San Diego diners now have a growing number of new delivery options to choose from. Local favorites using this delivery service include:
“San Diego’s restaurant scene has a creative, Southern Californian take on a variety of cuisines, offering many great options to local Grubhub diners,” said Stan Chia, SVP of operations, Grubhub. “By bringing the power of our delivery network and restaurant technology to our local restaurant partners, we’re able to drive more orders for their business while providing more tasty choices for our diners.”
Grubhub’s national scale lowers the overall cost of delivery to diners, which in turn, helps encourage diner loyalty. And when Grubhub handles the delivery, restaurants can focus on making great food. The efficiency of Grubhub’s delivery service, combined with great food, creates a win-win for local restaurants and diners.
“Tapping into Grubhub’s delivery service has allowed us to streamline our delivery operations while expanding our customer base and driving more orders,” said Kristee Gilbert, owner of BCB Company, “With Grubhub, we’re able to focus on making our award-winning bagels while they take care of the delivery.”
Grubhub’s turnkey delivery service launched in June of 2014 and has since expanded to nearly 50 markets across the country. Recently, Grubhub announced relationships with a number of national chain restaurants, including California Pizza Kitchen, Buca di Beppo, Veggie Grill and Panda Express.
To find takeout restaurants available in your area, check out Grubhub.com. If you are interested in becoming part of the Grubhub Delivery team, please visit driver.grubhub.com. To find out how your restaurant can join Grubhub, check out get.grubhub.com. To learn more about Grubhub and its portfolio of brands, please visit http://media.grubhub.com.
About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 40,000 restaurant partners in over 1,000 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.
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Grubhub Launches Grüber, The Super-Duper Revolutionary New Ride-Sharing Product
Industry Leader Leverages Unique Capabilities to Deliver People AND Food
CHICAGO, April 1, 2016 /PRNewswire/ — Grubhub, the nation’s leading online and mobile food ordering company, today announced a new product extension that will make it easier for millions of people nationwide to catch a ride. The new offering, called Grüber, marks a new era in ride-sharing, olfactory delight, efficiency and transportation magic. It will allow people who love both the smell of food and new cars, and the delight of a car showing up the moment they need transportation, to hitch a ride with Grubhub’s restaurant delivery drivers.
Grüber utilizes a set of unique assets — Grubhub’s deep expertise in on-demand restaurant logistics and extensive knowledge of delivery and food preparation — to create a best-in-class, easy-to-use product. People can now open the Grubhub app, click on the Grüber button to active the geo-location feature and request a ride. Then, one of Grubhub’s drivers will magically show up.
When riders get in the car, they will enter a world of sensory delights. The faint smell of someone else’s food, controlled by our patented ventilation system to ensure the perfect balance between food fragrance and new car smell, will fill the car with the perfect scent. Concurrently, the food’s presence will keep the seat next to the rider warm and the sample-sized snacks will ensure that riders are never hungry. Best of all, this unique take on the old-fashioned carpool comes at a low cost — and does not require the rider to hold someone else’s dinner! Unless the order is large, of course, in which case seat sharing will be necessary.
Human passengers will generally be dropped off before culinary passengers — unless there’s a risk of the food getting cold before it arrives at a diner’s doorstep. In that case, the driver will have to make a quick stop en route.
“We ensure that hundreds of thousands of diners per day receive the food they’re craving from their favorite local restaurants, so adding riders to the mix is no problem,” said Matt Maloney, CEO of Grubhub and founder of Grüber. “Our advanced logistics will allow us to deliver people wherever they’re going, faster and easier than any other delivery company — and with the never-before-seen benefit of amazing scents. We’re thrilled to see what our users think!”
Grüber gets you to the places you love from wherever you are, faster than anyone else. Just open the app, enter your destination and we’ll deliver you. Future rollouts include a variety of additional delivery services including transportation by hang glider and yacht, as well as delivery of sloths, ice sculptures, rock bands and Festivus poles.
About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 40,000 restaurant partners in over 1,000 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.
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Grubhub Acquires Bask Labs
CHICAGO — April 1, 2016 — Grubhub, the nation’s leading online and mobile food-ordering and delivery platform, today announced the acquisition of Bask Labs, an innovative technology company focused on data-driven solutions for the online food-ordering industry. The acquisition of Bask Lab’s food recommendation engine technology and team of data scientists will help Grubhub harness its vast amount of data and deliver a more customized user experience.
“We’re excited to welcome Bask Labs team,” said Matt Maloney, CEO of Grubhub. “Leveraging Bask’s expertise will help us better anticipate customer preferences and provide diners with more personalized recommendations for discovering new local restaurants.”
“Bask Labs is thrilled to join the national leader in online food ordering,” said Brian Gordon, co-founder of Bask Labs. “We look forward to driving an even better, more tailored experience for Grubhub users through our food recommendation engine.”
About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 40,000 restaurant partners in over 1,000 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.