Posted: 2020-11-05 18:04:27
Delivery startup goPuff acquires BevMo for $350M
From Anthony Ha at eCommerce – TechCrunch
Originally published 2020 11 05
As co-founder and co-CEO Yakir Gola explained last month, the startup delivers the kinds of products you’d find in a convenience store (such as over-the-counter medicine, baby food and alcohol) in 30 minutes or less — and it offers those deliveries 24 hours a day, seven days a week. GoPuff hadn’t attracted much media attention until recently, despite operating in more than 500 U.S. cities, with backing from Accel, SoftBank Vision Fund and others. That started to change with the recent round — which brought its total funding to $1.35 billion — and goPuff is making an even bigger splash by acquiring an iconic retailer.
For one thing, goPuff can now promote its delivery offerings to BevMo’s brick-and-mortar customers. The company also says it will integrate some of BevMo’s brick-and-mortar stores into its microfulfillment network, while not changing the customer experience in stores. “We’re proud to bring goPuff’s operations to California and look forward to investing in talent and real estate across the state,” said goPuff co-founder and co-CEO Rafael Ilishayev in a statement. “Partnering with BevMo! quickly advances our strategic objectives of providing more customers in new geographies with a seamless solution for their instant needs. Through this acquisition, goPuff will operate coast-to-coast, solidifying our presence as a leading, national consumer business.”
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