Then-CEO Matt Maloney said the company had 'incredibly strong momentum' heading into the JET acquisition.Īlso on the call, JET reiterated some of its other strategies for the newly acquired Grubhub, including plans to focus on growing share in current strongholds as opposed to the whole country. Grubhub had started 2021 in a strong spot, growth-wise: Its gross food sales in Q1 were up 60% year over year, and daily average orders were up 44%, continuing a streak of massive gains that began during the pandemic.

The period of April through June 2021 saw restaurants more fully reopening along with the onset of summer, a combination that appears to finally be slowing the roll of delivery sales. The company faces difficult comparisons after a year in which food delivery skyrocketed amid the coronavirus pandemic. That's off a total of 67.3 million orders in the quarter, up 14% year over year. Gross transaction value was up 10% an annual basis to about $2.6 billion, taking into account fluctuations in the exchange rate of the U.S dollar. Groen said the company would reveal more details about the transition during JET's investor day in October.Īlso of note in the quarter was an abrupt slowdown in sales and orders compared to Grubhub's previous periods.

It's used by both corporate clients and consumers. Seamless is most prominent in New York City, where its restaurant network is the same as Grubhub's. It grew quickly before merging with the larger Grubhub in 2013, creating one of the nation's largest online takeout companies. Seamless was founded by two lawyers in 1999 as a corporate food ordering platform.

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