Our portfolio company, GrubMarket Inc. has acquired FreshGoGo, a New York-based B2C platform specializing in Asian groceries and ready-made dishes. Founded in 2017, FreshGoGo, serves over 210,000 customers across 27 states and generates $30 million in annual revenue. This acquisition aligns with GrubMarket's strategy of enhancing the food supply chain and follows its acquisition of Good Eggs. Grow GrubMarket Inc. Grow! Congratulations to CEO Mike Xu and the rest of the team!
Breaking News: TechCrunch and Ingrid Lunden announce, "Food delivery is seeing more consolidation: GrubMarket Inc. snaps up FreshGoGo" We’re thrilled to announce that GrubMarket Inc. has officially acquired FreshGoGo, a leading B2C platform based in New York, specializing in Asian groceries and ready-made dishes. This acquisition marks another significant step in our ongoing mission to reshape the food supply chain industry. FreshGoGo, founded by Jianbing Duan in 2017, has grown to serve over 210,000 customers across 27 states, generating $30 million in annual revenue. With this acquisition, we’re excited to leverage FreshGoGo’s expertise and community connections to further enhance our food supply chain ecosystem. "At GrubMarket, we remain committed to fixing what isn't working in otherwise promising ventures, as evidenced by our recent successes, including our acquisition of Good Eggs," said GrubMarket CEO, Mike Xu. “We stay opportunistic about B2C acquisitions for those B2C companies who are solid financially and capital-efficient,” he added, “which either have been breakeven/profitable, or can be turned to breakeven or profitable quickly after our takeover.” 📈 This acquisition underscores our dedication to exploring new opportunities and driving innovation within the food industry. We’re confident that by integrating FreshGoGo into our platform, we’ll achieve greater economies of scale and continue delivering exceptional value to our customers and partners. Welcome, FreshGoGo team, to the GrubMarket family! Let’s continue transforming the food industry together. 👏 Link to TechCrunch article in the comments below: 🔗👇 #Acquisition #FoodTech #GrubMarket #FreshGoGo #FoodDelivery #SupplyChainInnovation #FoodSupplyChainIndustry #EnterpriseSoftware #B2C #ECommerce #Groceries #FoodDelivery #D2C #Disruptors #DisruptFoodSupply #LongTailFoodSupplyChain