News

Food Delivery

Kimberly Redmond | Equities.com |

Robotic sidewalk delivery startup Kiwibot is bringing its semi-autonomous rovers to US college campuses through a new partnership with food services and facility management company Sodexo Inc.

Starting this month, students and faculty at New Mexico State University, Loyola Marymount University and Gonzaga University will have the option of ordering fresh meals via insulated, remote-controlled robots from Sodexo-serviced locations on campuses, the companies announced Monday.


Kimberly Redmond | Equities.com |

Domino’s Pizza Inc (NYSE: DPZ) is taking on third-party food delivery platforms that charge extra fees by giving away $50 million worth of free food to random customers across the US.

On Monday, the Ann Arbor, Michigan-based chain unveiled its “Surprise Frees” promotion, which Domino’s said is in response to the “surprise fees” charged by companies like Uber Technologies’ UberEats and DoorDash Inc.


Reuters | Equities.com |

Lyft Inc on Tuesday posted an adjusted quarterly profit three months ahead of target, seizing on a leaner cost structure as rides rebounded, but it warned of ongoing driver shortages and the spread of the Delta coronavirus variant.

The company reported adjusted earnings before interest, taxes, depreciation and amortization for the first time in its nine-year history, and said it would remain profitable on that basis going forward.


AP News | Equities.com |

Chinese food delivery giant Meituan raised nearly $10 billion in a sale of convertible bonds and additional shares and plans to invest those funds in developing and expanding delivery technologies.

The Beijing-based firm, China’s largest food delivery platform, said in a filing to the Hong Kong stock exchange that it sold 187 million additional shares in a top-up placement at 273.80 Hong Kong dollars each, raising about $6.6 billion.


Kimberly Redmond | Equities.com |

Grab Holdings, Southeast Asia’s biggest ride-hailing and food delivery service, is considering a secondary public listing in its home market of Singapore, according to Reuters.

The outlet, citing confidential sources familiar with the matter, reported that Grab is still in the early stages of consideration and a timetable, as well as financial terms, are being worked out.


Kimberly Redmond | Equities.com |

Grab Holdings, Southeast Asia’s largest ride-hailing and food delivery company, plans to merge with US-based special purpose acquisition company Altimeter Growth Corporation (Nasdaq: AGC) in a deal that would value it at nearly $40 billion.

Under the deal announced Tuesday, Grab will receive about $4.5 billion in cash proceeds, over $4 billion of which will come from institutions such as BlackRock, Counterpoint Global, T. Rowe Price and Fidelity.


AP News | Equities.com |

Uber is offering sign-up bonuses and other incentives for drivers as it faces record demand for rides and meal delivery.

The San Francisco ride-hailing company said Monday that total monthly bookings, including food delivery and passenger service, reached an all-time high in March.


Reuters | Equities.com |

U.S. grocery delivery app Instacart Inc and food delivery firm DoorDash Inc are planning to launch their own credit cards, The Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Both companies have witnessed a surge in order volumes over the last few months as consumers, hesitant to step out during the COVID-19 pandemic, take to their phones to get essential items delivered to their doorsteps.


Reuters | Equities.com |

London-based amateur trader Amy Lee wasn’t sure whether to buy shares in Deliveroo’s stock market debut but decided eventually to take the leap, swayed by ad campaigns on the food delivery company’s app.

“I took a gamble,” she said. “It was my own fault, but I think I was swayed by the thought ‘surely Deliveroo wouldn’t advertise a bad product to their customers through their app. That would be stupid right?’”