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Grubhub sold for $650M. Four years ago it was worth $7.3B

37 点作者 FridayoLeary6 个月前

6 条评论

Larrikin6 个月前
Grubhub as a database was an amazing service in college. In cities, there was a large number of nearby restaurants you may never have even heard of and you finally could see the full collection instead of just defaulting to Pizza Hut. Delivery was limited to however far away the restaurant was willing to lose one of their own employees for a bit, it was free or nearly free, and a shitty delivery driver was bad for business.<p>This is now a new hell. We have floating drivers, picking up multiple food orders from multiple restaurants and driving in the wrong direction while your food gets cold.<p>We have ghost kitchen restaurants having multiple online store fronts to hide the bad reviews of their crap food for the actual restaurant.<p>We have small businesses and large corporations demanding 15 to 20 percent of the order cost to deliver the food a few blocks. But they&#x27;ll lower it to 10 percent if you get a subscription. And they still want a tip.<p>Even the existing aggregators like Yelp won&#x27;t actually show you what&#x27;s around without paging through tiny slices of their information ranked almost arbitrarily by random people on the Internet and gamed by businesses paying to rank higher.<p>I just don&#x27;t bother with delivery. I get subscriptions to nearly all the food services included with my credit cards, banks, or some other random service and it&#x27;s still not worth it. Either I&#x27;m eating out at a restaurant, where I&#x27;ll begrudgingly tip, or I&#x27;m picking up food from somewhere I can get to within a ten minute walk or drive. Grubhub, Door Dash, and the like provide no value anymore. The massive loss in value of GrubHub still was not enough.
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blackeyeblitzar6 个月前
A couple things happened: delivery services were unusually popular due to lockdowns, and that ended. Couple that with the drying up of investments in 2021ish that caused shrinking valuations for everyone. And you get this transaction which itself includes a premium.
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josephd796 个月前
The fact this industry tricked us into spending 200% more just to have a combo meal delivered delivered is insane and people have caught on. I&#x27;ve only ever used the app when someone gave me a gift card. I like local places anyways.
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hugoromano6 个月前
Market cap is just speculative pricing, the grand illusion of wealth. Then, there is investment banking advice, which is still speculative. The real value is only confirmed when a transaction occurs.
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ChrisRR6 个月前
Hmmmmm what possible links could there be between 2020 and food delivery services? It&#x27;s impossible to tell
ChrisArchitect6 个月前
[dupe]<p>More discussion: <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=42128935">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=42128935</a><p><a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=42127304">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=42127304</a>