Spotlight
GrubMarket acquires FreshGoGo, eyes B2C expansion
GrubMarket, a $3.6B food delivery startup, has acquired FreshGoGo, a B2C platform for Asian groceries, expanding its customer base by 210K across 27 states. This is part of GrubMarket's strategy to grow through strategic acquisitions. FreshGoGo, which generates $30M in revenue but is not yet profitable, joins GrubMarket following its recent purchase of Good Eggs. The deal mixes cash and shares, with FreshGoGo founder Jianbing Duan staying on board to continue operations. GrubMarket aims to scale these acquisitions for better profitability and growth.
September 1, 2024
