$100 million for Goldbelly
The economics of shipping restaurant food across the country... are interesting.
Goldbelly, the company that helps restaurants ship iconic dishes across the country, announced a $100 million Series C round of funding this week. As reported by the New York Times Dealbook column, the company experienced a huge pandemic lift, enticing investors with its “extraordinary” growth. (Quotes courtesy of a managing director at the firm that led the investment.)
But it’s true, Goldbelly has seen extraordinary growth over the past year. Close to half of the 850 restaurants on the platform signed on during the pandemic. Sales have quadrupled over the past year. Goldbelly expects to have 1,000 restaurants on its platform by the end of the year. One business owner in the Times’ coverage said he dodged Goldbelly’s calls for over a year, relenting and joined the service in late 2019 to ship 15 boxes of food per week. At the height of the pandemic, the same business shipped 200 boxes weekly.
“The goal, Mr. Ariel said, is to make Goldbelly the biggest platform on which restaurants mak…