Led by Craft Ventures, it also includes Andreessen Horowitz (which led its $21 million Series A), General Catalyst, Y Combinator, Pioneer Fund (a fund from YC alumni), and a long list of individual backers that speaks to the attention Snackpass is getting and the place it’s carving out for itself as a go-to food platform for millennials and younger users. This latest tranche of funding is coming from an interesting group of investors. This round values the startup at over $400 million. The startup now has 500,000 users across 13 college towns, and has seen its growth explode 7x year-over-year. Snackpass, which describes itself as a “food meets friends” - essentially a social commerce platform for ordering from restaurants “snack,” the CEO tells me, has a double meaning of eating, and a flirtatious reference to a cutie pie - has picked up a $70 million, a super-sized Series B that it will be using to continue expanding to more markets in the U.S.Ĭonceived four years ago while Kevin Tan, the CEO who co-founded the company with Jamie Marshall, was still a student at Yale studying physics, Snackpass has grown by remaining true to its higher-ed roots. While every food delivery company is trying to get an edge on its rivals with discount codes, faster service, and a turn into the realm of spooky with ghost kitchens and dark stores, a startup built on a lighter, social concept - letting people see what their friends are chomping on, making it possible to order food and drinks for each other and group order, with buyers picking it all up for themselves - has just raised a substantial Series B and says that it is already profitable in a number of markets.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |