American goods delivery startup GoBrands, Inc. (Gopuff) has raised $250 million in a funding round. This is reported in the Gopuff press release.
At the same time, Gopuff's total market value is estimated at $8.5 billion, which is significantly lower than $15 billion during the pandemic due to falling demand and reduced funding after the end of the epidemic, which increased interest in fast delivery services.
The financing round was managed by Eldridge Industries LLC and Valor Equity Partners with the participation of Baillie Gifford & Co. and several individuals, including the co-founders of the company. Gopuff plans to use the funds raised to invest in artificial intelligence and infrastructure.
Since 2022, Gopuff has laid off more than a thousand people in order to reduce costs and limited its presence internationally to the US and UK markets.
In 2024, Gopuff expanded its product range to include food and essentials, increased the frequency of orders, and entered into several strategic partnerships, including with Walt Disney Co., to advertise snacks and beverages.
Gopuff is an American food and merchandise delivery company headquartered in Philadelphia, Pennsylvania. The company delivers products presented in fast food stores in 500 cities and towns in the United States. The company also has a representative office in the UK.
