clock menu more-arrow no yes

Filed under:

Delivery App Postmates Grabs Another $80 Million in Funding

Partnerships with Chipotle and Starbucks have put the app ahead of the crowd.

In the crowded delivery app sector, one seems to be pulling ahead of the pack: San Francisco-based Postmates just snagged another $80 million in funding, says TechCrunch, bringing its total valuation to nearly half a billion dollars.

CEO Bastian Lehmann claims Postmates has now "surpassed 2.5 million deliveries across 28 different markets," and he expects gross profits "to grow more than 10x in 2015 compared to the previous year." Postmates boasts delivery partnerships with both Starbucks and Chipotlebeating out Uber for the former.

While some customers may take issue with Postmates' delivery fees — "which can range anywhere from $5 to almost $20, depending on a user’s distance from the pick-up site" — it's a model that seems to be working for the company: Lehmann tells TechCrunch that "the company is making money on every delivery," and none of that fresh cash injection will be used to subsidize delivery fees.

Sign up for the Sign up for the Eater newsletter

The freshest news from the food world every day