GrubMarket

From EverybodyWiki Bios & Wiki


GrubMarket is an e-grocery food delivery platform. The company is based in San Francisco and was founded by Mike Xu in 2014. Mike serves as the founder and the CEO of the company.[1][2]

The organization has a web and mobile app that allows booking of the products. The products are taken directly from the source and delivered to both businesses and consumers.[3][4]

History[edit]

After being established in 2014, the company raised $2.1 million in the Seed funding,[5] and in 2015 the company raised $10 million in the Series A funding.[6]

In 2016 the company had been a member of San Francisco’s Y Combinator program.[7] Same year the company also acquired FarmBox, a Los Angeles based grocery delivery company.[8]

Grubmarket raised the Series B funding of $20 million from Riverhead Capital, Ashton Kutcher’s Sound Ventures, Global Founders Capital, GGV Capital, Fosun Group, Danhua Capital and a few celebrities and other individual investors such as Fabrice Grinda and Gang Wang.[9][10]

The company reached the annual revenue run rate of $100 million and become financially profitable on the overall business in year 2018.

In 2018, the company raised a funding of $32 million in the Series C funding round led by GGV.[11] In the same year the company acquired So Cal Farm Networks, a farm delivery service.[12][2]

As of 2018, the company has raised a total of $64 million.

References[edit]

  1. "GrubMarket Raises up $32M Led by GGV for its Healthy Grocery Ordering And More". StartupWorld. 2018-07-12. Retrieved 2018-07-24.
  2. 2.0 2.1 "GrubMarket gobbles up $32M led by GGV for its healthy grocery ordering and delivery service". TechCrunch. Retrieved 2018-07-24.
  3. "Pymnts".
  4. "Online grocery GrubMarket breaks even, and wants to go public in 2018". TechCrunch. Retrieved 2018-07-24.
  5. "With $2.1M In Funding, GrubMarket Connects Consumers With Local Farms And Food Producers". TechCrunch. Retrieved 2018-07-24.
  6. "Farm-To-Fridge Food Delivery Service GrubMarket Grabs $10M Series A". TechCrunch. Retrieved 2018-07-24.
  7. "Chicago Tribune".
  8. Su, Jean Baptiste. "CEO Tech Talk: GrubMarket Acquires FarmBox, Plans Nationwide Expansion". Forbes. Retrieved 2018-07-24.
  9. "Forbes".
  10. "GrubMarket raises $20 million to expand its online farmer's market". TechCrunch. Retrieved 2018-07-24.
  11. "GrubMarket raises $32 Mn for Healthy Grocery Ordering". Bizztor. 2018-07-12. Retrieved 2018-07-24.
  12. "San Francisco Chronicle".


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