Philadelphia-based Gopuff acquires rideOS to accelerate innovation

Gopuff, a digital delivery service provider, has reportedly acquired rideOS, a cutting-edge transportation marketplace, for the sum of $115 million. The company has not shared the updated valuation following the latest takeover.

This acquisition deal came a few months after the food delivery company secured $1.15 billion in a funding round, leading to its total valuation of $8.9 billion, which is a hike from $3.9 billion in October. In addition, it also previously raised $380 million as well as bought a beverage retailer, BevMo.

Gopuff is known for providing delivery services of products such as foods, over-the-counter medication, and pet products in above 650 cities in the U.S., with a range of delivery options. Recently, the company has doubled its baby category and added numerous local products, as well as expanded the delivery of beauty & better-for-you products, which include organic and healthier snacks.

In May, the food delivery firm took over UK-based Fancy Delivery to enter the international market. The company is planning to leverage rideOS’s technology geared towards advanced routing, fleet optimization, and complex dispatch to expand its footprint in complex and highly dense cities and new verticals. Moreover, it will adopt its new IP to enhance multimodal deliveries and lower delivery times.

Through the acquisition of rideOS, the Philadelphia-based company is intending to develop new tools and improve its unit economics to assist delivery partners and managers. On the other hand, RideOS is planning to scale its business and remain at the forefront of defining the ‘Instant Needs’ economy.

As per the statement made by Justin Ho, CEO & Co-founder of rideOS, the robust focus of Gopuff on becoming the leading go-to solution provider for immediate everyday needs aligns with the company’s vision to develop efficient software. The exponential growth of this food delivery firm is expected to help increase its headcount by 2021 end and expand its presence in Berlin, Pittsburgh, and Silicon Valley.

Source credit:

https://techcrunch.com/2021/06/17/delivery-service-gopuff-acquires-rideos-for-115-million-plus/