You thought GrubHub just delivers food…
They also deliver profits… and the online delivery company’s stock jumped 20% on Wednesday to a new all-time high. Sales were up 50% and earnings more than doubled in the second quarter. These results are coming despite the presence of formidable opponents such as DoorDash, Uber Eats, and Amazon in the market.
With some help… from their latest acquisition, LevelUp, GrubHub has tapped into new and valuable relationships with restaurants. These relationships should help in their effort to shun the competition and earn a more significant share of the market.
They may deliver near you… even if you don’t happen to live in New York, Chicago, L.A., or San Francisco. The company recently moved into Santa Barbara, Reno, Scranton (what!? the electric city!), and Spokane. Moving into smaller markets is part of GrubHub’s strategy for growth – finally, someone realizes that the little guys like to eat, too.