Category: delivery

Long-range delivery drone maker Volansi raises $50M
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Long-range delivery drone maker Volansi raises $50M

Robotics generally have seen an increase in interest during the pandemic, so it makes perfect sense that investors are taking a closer look at autonomous drone delivery. That’s good news for Volansi, which just announced a $50 million Series B. The round, led by Icon Ventures, brings the Bay Area-based startup’s total funding up to…

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Uber’s delivery business is now larger than ride-hailing
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Uber’s delivery business is now larger than ride-hailing

Uber reported its second-quarter earnings Thursday, and buried in the blizzard of less-than-rosy numbers is a stunning figure that illustrates how much the company has changed during the COVID-19 pandemic. Uber’s delivery business — better known as Uber Eats — is now bigger than its original and core ride-hailing division, based on adjusted net revenue.…

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China’s food delivery giant Meituan hits $100B valuation amid pandemic
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China’s food delivery giant Meituan hits $100B valuation amid pandemic

Meituan’s shares hit a record high on Tuesday, bringing its valuation to over $100 billion. The Hong Kong-listed giant, which focuses on food delivery with smaller segments in travel and transportation, is the third Chinese firm to reach the landmark valuation. Tencent and Alibaba respectively topped the number back in 2013 and 2014. Tencent-backed Meituan…

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Razor Thin Food Delivery Profits Will Test Grubhub Stock
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Razor Thin Food Delivery Profits Will Test Grubhub Stock

Grubhub stock has been on a tear during the pandemic. But food delivery services are losing money on orders. This is another case of headlines driving stock valuations rather than a hard look at earnings. Food delivery is a terrible investment. Grubhub stock (NYSE:GRUB) soared above the S&P 500 benchmark as sales grew during COVID-19…

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Indian food delivery startup Swiggy is cutting about 1,000 jobs
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Indian food delivery startup Swiggy is cutting about 1,000 jobs

Swiggy is cutting about 1,000 jobs, most from its cloud kitchen division, as India’s top food delivery startup scales back some of its businesses in response to the coronavirus pandemic that has drastically affected millions of firms. In a statement, the Bangalore-based startup said it was “evaluating various means to stay nimble and focus on…

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Delivery Hero CEO shares what he’s learned about managing logistics during a pandemic
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Delivery Hero CEO shares what he’s learned about managing logistics during a pandemic

Food-delivery platforms are on the front lines during the coronavirus crisis, with major spikes in demand as communities are confined at home, likely with more time to cook than usual. And while some restaurants have opted to shut down, others have turned to takeout as a lifeline. Yet physical contact between suppliers, couriers and customers…

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Uber sells food delivery business in India to Zomato
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Uber sells food delivery business in India to Zomato

Uber said on Tuesday it has sold its food delivery business, Uber Eats, in India to local rival Zomato as the American ride-hailing giant races to shed lossmaking operations to become profitable by next year. As part of the deal, Uber would own 9.99% of Zomato and its Eats users would become part of the…

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Marijuana delivery giant Eaze may go up in smoke
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Marijuana delivery giant Eaze may go up in smoke

The first cannabis startup to raise big money in Silicon Valley is in danger of burning out. TechCrunch has learned that pot delivery middleman Eaze has seen unannounced layoffs, and its depleted cash reserves threaten its ability to make payroll or settle its AWS bill. Eaze was forced to raise a bridge round to keep…

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