Yelp Buys Eat24 for $134M(techcrunch.com)
techcrunch.com
Yelp Buys Eat24 for $134M
http://techcrunch.com/2015/02/10/yelp-gulps-eat24/
6 comments
They even seemed to be quite vocal about it: http://blogs.wsj.com/venturecapital/2012/10/04/food-delivery...
whats bootstrapped mean?
They didn't take money from professional investors. They funded the companies growth with their own money.
"“All without taking a single dime in venture capital,” the company said in the news release. Eat24 attributes its success to hard work, chutzpah, comfortable shoes and a thing or two not mentionable in this publication."
Anyone want to speculate what "a thing or two not mentionable" is? Adderal? Modafinil? THC?
Anyone want to speculate what "a thing or two not mentionable" is? Adderal? Modafinil? THC?
"giant balls", per the press release. http://www.prnewswire.com/news-releases/eat24-successfully-s...
They also used porn actors to advertise.
That's the dream
I hadn't heard of Eat24 before the Super Bowl. (Where their 30-second commercial with Snoop Dogg cost at least $4M.[1][2])
[1] http://www.superbowl-commercials.org/35255.html [2] http://www.forbes.com/sites/onmarketing/2014/01/29/yes-a-sup...
[1] http://www.superbowl-commercials.org/35255.html [2] http://www.forbes.com/sites/onmarketing/2014/01/29/yes-a-sup...
Will it be the end of eat24's weekend coupons? When they started they were regularly giving 3-4 bucks per coupon. Now, I can't remember the last time it wasn't $2, apart from those times when they teamed up with other companies like Paypal and gave away $10. I'm actually surprised it went on for so long, seems like an expensive way to help retention.
I talked to them once to get pricing and they wanted 12% of every order. I'm sure handing out coupons regularly isn't costing them much is worth more in boosting their ordering volume.
I'm almost surprised they didn't do this sooner.
Yelp has had the online eat24 integration for a bit now. I guess they bought it to be able to control the integration further?
I was only last week discussing how I felt Eat24's brand has been breaking away from the staid competition over the past year. This move puts Yelp ($YELP) on my investing radar; their business is clearly more than milking businesses on the reviews side.
[1] https://www.crunchbase.com/organization/eat24hours