Postmates has raised $140 million in a new round of funding,Watch Young & Beautiful Vol. 10 Online a huge cash injection to a company that had been struggling to attract users and turn a profit.
Postmates offers delivery of just about anything a person could want, including restaurants that don't otherwise deliver. The company has a workforce of more than 40,000 people that transports goods on demand.
SEE ALSO: UberEats has surge pricing nowThe new round was led by Founders Fund, which counts controversial investor Peter Thiel among its partners, the company said in a press release. The firm closed a $1.3 billion fund in March 2016.
Founders Fund partner Brian Singerman will join the Postmates board, the delivery company also announced.
Getting stuff to your door has grown into a competitive industry, with everyone from Uber and Amazon to Google and, of course, Seamless betting big on it.
Postmates had been one of the more ambitious entries into that scene and grew quickly at first. That growth began to slow and reports of problems within the companies —and difficulties in finding new cash to fund its business — weighed on the company.
With this new funding round, Postmates wants to launch internationally and expand its delivery categories beyond food. That means adding more delivery options for alcohol and wellness products in particular.
The company sees potential for its service in international markets, even where UberEats has already aggressively expanded. The company is especially interested in cities in the Middle East and South America, Postmates vice president of growth and strategy Kristin Schaefer told Mashable.
"Our product is something that doesn't exist internationally. Even in markets where UberEats has already expanded, that's a limited selection of merchants partnered versus our platform, which also has the anywhere product," Schaefer said.
Postmates launched its in four new US cities last week — New Orleans, Orlando, Ft. Lauderdale and Tampa — and is planning a "fair number" of domestic launches in the next year. The company also plans to open new offices in New York and Seattle with this new round of funding, Schaefer said.
The funding round puts Postmates on track to reach profitability by late 2017, Schaefer said.
Early reports of a possible funding round pegged the valuation of Postmates at around $450 million.
Best IPL deal: Save $80 on Braun IPL Silk·Expert
'You Hurt My Feelings' review: Julia Louis
Joe Biden ad spotlights a Donald Trump promise we all hope he keeps
A Partial Inventory of Gustave Flaubert’s Personal Effects by Joanna Neborsky
Best Sony headphones deal: Over $100 off Sony XM5 headphones
ChatGPT's app for iOS is now available in the UK and 10 more countries
Twitter is removing view count metrics from videos
'Vanderpump Rules' reunion: The most Scandovalous quotes
Big-League Bluster
Freak, Memory by Dave Tompkins
Whale Vomit Episode 5: Startup Monarchy
RBG's personal trainer honors her with three push
Best gifts for great teachers
Netflix password sharing crackdown: How to get around it
NYT Strands hints, answers for May 5
Early Writhings by Josh Lieberman
The Dark Lady, Potter Gowns by Sadie Stein
What We’re Loving: Voyeurs, A Trip to the Moon by The Paris Review
Best portable power station deal: Save 44% on the Jackery Explorer 100 v2
Joe Biden ad spotlights a Donald Trump promise we all hope he keeps
Roku is making a soundbar, and honestly it makes a ton of senseCards Against Humanity has one specific requirement for their new CEO: Be Barack ObamaThe one photo that shows exactly why women are fighting TrumpThis bin that looks like Donald Trump has sparked a glorious Photoshop battleYouTube is removing North Korean content and no one knows whySwing Left: Grassroots campaign translates frustration with Trump into real changeSamsung's new foldable 'flip phone' could come in 2020Google's PR team penned the mother of all repliesWhat CD binders say about 90s kids' musical identityDon't believe reports that Trump is pulling the U.S. out of the United NationsSamsung's new foldable 'flip phone' could come in 2020YouTube is removing North Korean content and no one knows whyHow to help the communities affected by Hurricane DorianGoogle releases Android 10 with batteryYouTube is removing North Korean content and no one knows why#SadMelania is the new mascot for Trump's America, the internet saysWomen's March protestor seeks help on Facebook to find 'equality bae'Prank your indecisive friends with this brutal pizza orderHogwarts gets a magically realistic rendering in body paint timelapseMeme asks how much truth there is to your favorite band names Apple and Microsoft face off with new MacBook Pros and Surface Studio PC Taipei raises rainbow flag at City Hall as thousands march in pride parade Election day cyberattack: It's coming, but probably won't matter Watch Bill Murray sing 'Take Me Out to the Ballgame' at World Series Game 3 Peak Halloween meme costume achieved with 'Babadook' clap back Hilary Duff and her boyfriend apologize for their offensive Halloween costumes Huge pile of manure dumped outside Democratic Party office in Ohio Analyzing Graphics Card Pricing: July 2018 Will Ferrell puts on 'Nasty Woman' shirt to campaign for Clinton 'Inferno' brings the 'Da Vinci Code' series to a new box office low Top 13 worst British candies that deserve a special place in hell Your next dessert obsession is probably coming from Australia Twitter ‘muted words’ feature may be one of its answers to curbing online abuse Nurx wants you to get birth control from an app Powerful earthquake rattles central, southern Italy Eddie Vedder commits clumsy error, fails Cubs history Oh good, someone dressed up as the viral Gumby dog video for Halloween Don't shame me for not dressing up for Halloween No, the internet does not care for politician's lame graffiti joke Hubble telescope photo of a spooky dead star will creep you out
2.0649s , 10107.6171875 kb
Copyright © 2025 Powered by 【Watch Young & Beautiful Vol. 10 Online】,Fresh Information Network