1:24 p.m. | Updated Correcting number of restaurants in partnership with GrubHub.
GrubHub.com, a search engine for restaurants that deliver food, has raised $11 million to expand to more cities.
The company is hoping to use the new round of venture capital – its third in six years – to reach more users who want meals delivered to their doorstep, but without the trouble having to sift through a pile of take-out menus and making a phone call.
Benchmark Capital led the latest round of funding. Previous investors also participated including Origin Ventures, Leo Capital and Amicus Capital. Over the years, GrubHub has raised a total of $14.1 million.
The company, based in Chicago, faces a long list of competitors in an industry that has yet to reach much of the country. Most services cover only a limited number of cities and even less of the suburbs. Some charges delivery fees. Challengers to GrubHub include SeamlessWeb, Delivery.com, Eat24hours.com and CityMint. Waiters on Wheels offers a variation in which it handles the delivery instead of the restaurant.
GrubHub works like this: Users enter their address to find restaurants nearby that deliver. They can also search by cuisine like Chinese or pizza. Users look at the menus online and then place an order. The restaurant takes care of the delivery and payment.
GrubHub is free for consumers. The company makes its money by charging restaurants a commission on orders and in return, the restaurants that pay appear higher in the search results. “Restaurants are doing well cooking food but they need some help in the technology space,” said Matt Maloney, GrubHub’s chief executive.
Around 4,500 restaurants have teamed with GrubHub so far. An additional 8,500 restaurants appear on the site, but users must call them rather than ordering online.
Mr. Maloney said that GrubHub would double the number of cities it serves by the end of next year to 26. The company is available bigger cities like New York, Los Angeles and San Francisco.
Orders placed through GrubHub are expected to rise from $70 million this year to $150 million in 2011, Mr. Maloney said.
Bill Gurley, a venture capitalist with Benchmark, and who led its investment in GrubHub, said that the sales figures might seem small now, but that he expected the restaurant industry to increasingly move online in the coming years. He cited the example of companies in other industries like Southwest Airlines, Ticketmaster and OpenTable, the restaurant reservation service that Benchmark also invested in.
“All of these industries have gone from zero percent to 100 percent,” Mr. Gurley said before pointing to restaurant delivery. “This one is starting to move, and we see no reason why it won’t follow the same pattern in maybe 20 to 30 years out.”
Several factors have contributed to this year’s gusher, including a U.S. Supreme Court ruling in January that now allows unlimited campaign spending by corporations and unions. In August, a low-profile Federal Election Commission decision opened the door for donors to pool their money and give anonymously, which produced a bumper crop of ads from nonprofit political groups and committees trying to influence voters.
“The biggest factor driving the spending is the competitive landscape,” said Evan Tracey, president of Kantar Media’s Campaign Media Analysis Group. “Incumbents across the country are worried about losing, and they are not holding on to their money. And many of these statewide races are in states with expensive media markets like New York, Texas and California.”
Political spending this year should reach record levels, Tracey predicted.
Wells Fargo's Ryvicker estimates that TV stations will collect $2 billion in political money this year. Cable television systems will generate at least $150 million; radio stations will garner $250 million; direct mail efforts should consume $650 million; and billboards will receive $55 million. Ryvicker estimated that newspapers would take in $95 million in political money.
Coming in last, according to Ryvicker and Tracey, will be Internet sites. Their collective haul should be about $50 million -- less than 2% of the total.
Companies that own TV stations in the LA market include CBS Corp., NBC Universal, Univision Communications, News Corp., Walt Disney Co. and Tribune Co., which owns KTLA-TV Channel 5 and the Los Angeles Times.
For the full story in the Los Angeles Times, click here.
-- Meg James
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger
1:24 p.m. | Updated Correcting number of restaurants in partnership with GrubHub.
GrubHub.com, a search engine for restaurants that deliver food, has raised $11 million to expand to more cities.
The company is hoping to use the new round of venture capital – its third in six years – to reach more users who want meals delivered to their doorstep, but without the trouble having to sift through a pile of take-out menus and making a phone call.
Benchmark Capital led the latest round of funding. Previous investors also participated including Origin Ventures, Leo Capital and Amicus Capital. Over the years, GrubHub has raised a total of $14.1 million.
The company, based in Chicago, faces a long list of competitors in an industry that has yet to reach much of the country. Most services cover only a limited number of cities and even less of the suburbs. Some charges delivery fees. Challengers to GrubHub include SeamlessWeb, Delivery.com, Eat24hours.com and CityMint. Waiters on Wheels offers a variation in which it handles the delivery instead of the restaurant.
GrubHub works like this: Users enter their address to find restaurants nearby that deliver. They can also search by cuisine like Chinese or pizza. Users look at the menus online and then place an order. The restaurant takes care of the delivery and payment.
GrubHub is free for consumers. The company makes its money by charging restaurants a commission on orders and in return, the restaurants that pay appear higher in the search results. “Restaurants are doing well cooking food but they need some help in the technology space,” said Matt Maloney, GrubHub’s chief executive.
Around 4,500 restaurants have teamed with GrubHub so far. An additional 8,500 restaurants appear on the site, but users must call them rather than ordering online.
Mr. Maloney said that GrubHub would double the number of cities it serves by the end of next year to 26. The company is available bigger cities like New York, Los Angeles and San Francisco.
Orders placed through GrubHub are expected to rise from $70 million this year to $150 million in 2011, Mr. Maloney said.
Bill Gurley, a venture capitalist with Benchmark, and who led its investment in GrubHub, said that the sales figures might seem small now, but that he expected the restaurant industry to increasingly move online in the coming years. He cited the example of companies in other industries like Southwest Airlines, Ticketmaster and OpenTable, the restaurant reservation service that Benchmark also invested in.
“All of these industries have gone from zero percent to 100 percent,” Mr. Gurley said before pointing to restaurant delivery. “This one is starting to move, and we see no reason why it won’t follow the same pattern in maybe 20 to 30 years out.”
Several factors have contributed to this year’s gusher, including a U.S. Supreme Court ruling in January that now allows unlimited campaign spending by corporations and unions. In August, a low-profile Federal Election Commission decision opened the door for donors to pool their money and give anonymously, which produced a bumper crop of ads from nonprofit political groups and committees trying to influence voters.
“The biggest factor driving the spending is the competitive landscape,” said Evan Tracey, president of Kantar Media’s Campaign Media Analysis Group. “Incumbents across the country are worried about losing, and they are not holding on to their money. And many of these statewide races are in states with expensive media markets like New York, Texas and California.”
Political spending this year should reach record levels, Tracey predicted.
Wells Fargo's Ryvicker estimates that TV stations will collect $2 billion in political money this year. Cable television systems will generate at least $150 million; radio stations will garner $250 million; direct mail efforts should consume $650 million; and billboards will receive $55 million. Ryvicker estimated that newspapers would take in $95 million in political money.
Coming in last, according to Ryvicker and Tracey, will be Internet sites. Their collective haul should be about $50 million -- less than 2% of the total.
Companies that own TV stations in the LA market include CBS Corp., NBC Universal, Univision Communications, News Corp., Walt Disney Co. and Tribune Co., which owns KTLA-TV Channel 5 and the Los Angeles Times.
For the full story in the Los Angeles Times, click here.
-- Meg James
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger
eric seiger
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger
1:24 p.m. | Updated Correcting number of restaurants in partnership with GrubHub.
GrubHub.com, a search engine for restaurants that deliver food, has raised $11 million to expand to more cities.
The company is hoping to use the new round of venture capital – its third in six years – to reach more users who want meals delivered to their doorstep, but without the trouble having to sift through a pile of take-out menus and making a phone call.
Benchmark Capital led the latest round of funding. Previous investors also participated including Origin Ventures, Leo Capital and Amicus Capital. Over the years, GrubHub has raised a total of $14.1 million.
The company, based in Chicago, faces a long list of competitors in an industry that has yet to reach much of the country. Most services cover only a limited number of cities and even less of the suburbs. Some charges delivery fees. Challengers to GrubHub include SeamlessWeb, Delivery.com, Eat24hours.com and CityMint. Waiters on Wheels offers a variation in which it handles the delivery instead of the restaurant.
GrubHub works like this: Users enter their address to find restaurants nearby that deliver. They can also search by cuisine like Chinese or pizza. Users look at the menus online and then place an order. The restaurant takes care of the delivery and payment.
GrubHub is free for consumers. The company makes its money by charging restaurants a commission on orders and in return, the restaurants that pay appear higher in the search results. “Restaurants are doing well cooking food but they need some help in the technology space,” said Matt Maloney, GrubHub’s chief executive.
Around 4,500 restaurants have teamed with GrubHub so far. An additional 8,500 restaurants appear on the site, but users must call them rather than ordering online.
Mr. Maloney said that GrubHub would double the number of cities it serves by the end of next year to 26. The company is available bigger cities like New York, Los Angeles and San Francisco.
Orders placed through GrubHub are expected to rise from $70 million this year to $150 million in 2011, Mr. Maloney said.
Bill Gurley, a venture capitalist with Benchmark, and who led its investment in GrubHub, said that the sales figures might seem small now, but that he expected the restaurant industry to increasingly move online in the coming years. He cited the example of companies in other industries like Southwest Airlines, Ticketmaster and OpenTable, the restaurant reservation service that Benchmark also invested in.
“All of these industries have gone from zero percent to 100 percent,” Mr. Gurley said before pointing to restaurant delivery. “This one is starting to move, and we see no reason why it won’t follow the same pattern in maybe 20 to 30 years out.”
Several factors have contributed to this year’s gusher, including a U.S. Supreme Court ruling in January that now allows unlimited campaign spending by corporations and unions. In August, a low-profile Federal Election Commission decision opened the door for donors to pool their money and give anonymously, which produced a bumper crop of ads from nonprofit political groups and committees trying to influence voters.
“The biggest factor driving the spending is the competitive landscape,” said Evan Tracey, president of Kantar Media’s Campaign Media Analysis Group. “Incumbents across the country are worried about losing, and they are not holding on to their money. And many of these statewide races are in states with expensive media markets like New York, Texas and California.”
Political spending this year should reach record levels, Tracey predicted.
Wells Fargo's Ryvicker estimates that TV stations will collect $2 billion in political money this year. Cable television systems will generate at least $150 million; radio stations will garner $250 million; direct mail efforts should consume $650 million; and billboards will receive $55 million. Ryvicker estimated that newspapers would take in $95 million in political money.
Coming in last, according to Ryvicker and Tracey, will be Internet sites. Their collective haul should be about $50 million -- less than 2% of the total.
Companies that own TV stations in the LA market include CBS Corp., NBC Universal, Univision Communications, News Corp., Walt Disney Co. and Tribune Co., which owns KTLA-TV Channel 5 and the Los Angeles Times.
For the full story in the Los Angeles Times, click here.
-- Meg James
eric seiger
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger eric seiger
eric seiger
eric seiger
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger
The Allmusic Blog » <b>News</b> Roundup: 11/10/2010
The blog site of allmusic.com. Music news, reviews of new songs, information about upcoming releases and tours, highlighting forgotten treasures, rediscoveries, and all manners of interesting music culled from the AMG archive.
Google <b>News</b> Blog: Credit where credit is due
News publishers and readers both benefit when journalists get proper credit for their work. That can be difficult, with news spreading so quickly and many websites syndicating articles to others. That's why we're experimenting with two ...
First Solar <b>News</b>, Rumors: CIGS, Mercury, Tellurium : Greentech Media
First the news... Apollo Solar Energy (OTC: ASOE), a vertically integrated miner, refiner and producer of high purity tellurium (Te), announced a five-year purchase contract between Apollo Solar Energy and a major worldwide solar panel ...
eric seiger
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