Grubhub acquires payments and loyalty company LevelUp for $390M | RetailTechPodcast

Grubhub acquires payments and loyalty company LevelUp for $390M

Grubhub announced this morning that it's agreed to acquire LevelUp for $390 million cash. At the same time, Maloney said LevelUp can help Grubhub build a restaurant platform that goes beyond delivery, for example by managing their customer interactions across mobile and the web. Once the regulatory waiting period is over, the entire LevelUp team will be joining Grubhub, with founder and CEO Seth Priebatsch reporting to Maloney - who said that in the short term, he plans to change very little, aside from the POS integrations. Even in the long term, he suggested that LevelUp could continue to operate as its own brand within the larger Grubhub platform. The LevelUp platform was launched in 2011, and the company has raised around $108 million in total funding, according to Crunchbase. "For the last seven years, we have worked to provide restaurant clients with a complete solution to engage customers, and this agreement is the biggest and most exciting step in achieving that mission," Priebatsch said in a statement provided by Grubhub. The announcement came as part of Grubhub's second quarter earnings release, which saw the company grow active diners by 70 percent year-over-year, to 15.6 million, while revenue increased 51 percent, to $240 million. Read more