EatStreet

For the Minneapolis neighborhood, see Eat Street. For the television show, see Eat St..
EatStreet
Private
Industry Online food ordering
Founded Madison, Wisconsin
(2010)
Headquarters Madison, Wisconsin
Key people
 Matt Howard, CEO
Eric Martell, COO
Alex Wyler, CTO
Kara Murphy, Operations Director
Number of employees
 50+
Website www.eatstreet.com

EatStreet is a US online food ordering service. Founded in 2010 in Madison, Wisconsin, the company has expanded to over 15,000 restaurants in over 150 markets nationwide.[1] In addition to an online ordering platform, EatStreet also offers restaurants custom websites, mobile apps, Facebook ordering, and digital marketing services. EatStreet.com, an online food court, provides a comprehensive listing of all restaurant partners and a central hub where diners can order delivery and takeout online from restaurants in their area. A portion of EatStreet's profits are donated to charity.[2]

History

Initially launched by co-founders Matt Howard, Eric Martell, and Alex Wyler on February 1, 2010, the company began as BadgerBites and operated solely in Madison, WI.[3] In August 2011, the company began expanding to additional markets and now has operations across the country, including Arizona, Ohio and North Carolina. On January 21, 2013, the company launched a re-designed website and began national expansion under the new name "EatStreet." As of April 2014, the company employs 65 total employees.[3]

The company raised $2 million in a Series A investment round led by Cornerstone Opportunity Partners LLC in February 2013.[4] Independence Equity, Great Oaks VC, and gener8tor also participated.[5] EatStreet won the G. Steven Burrill Business Plan Competition and placed 3rd Place in the NEST competition, both at the Wisconsin School of Business. The company was also a finalist in the Wisconsin Governor's Business Plan Contest.

In April 2014, EatStreet secured a Series B investment round worth $6 million.[6] Investors included Cornerstone Opportunity Partners LLC, Independence Equity, Great Oaks VC, CSA Partners, Silicon Valley Bank, and angel investors.[7] EatStreet partnered with Yelp in June, 2014 to allow online users to order food directly from thousands of Yelp's restaurant pages, courtesy of EatStreet's integration into their platform. [8] A few months later, EatStreet's Series B funding reached a total of $10 million in October 2014 when 4490 Ventures and the State of Wisconsin Investment Board invested an additional $4 million.[9]

EatStreet was named the #2 "Food Delivery Startup to Watch" by StrategyEye.[10] CEO Matt Howard was named to Madison Magazine's 2013 "M List" honoring entrepreneurial excellence.[11] In early 2014, EatStreet partnered with the National Restaurant Association as part of the association's Extreme Digital Makeover promotion.[12]

Services

EatStreet offers services that connect restaurants and individual diners. For restaurants, EatStreet provides an online food ordering platform including access to an online "food court," wireless tablets to receive orders, customer service, marketing solutions, custom-designed websites, Facebook ordering, mobile apps for iPhone and Android, and digital marketing services.[13] The company also operates its own "online food court" that lists all its restaurants on a single website.[14] Based on a diner's address, EatStreet.com provides a list of all restaurants in the area open for delivery or takeout. Diners can then filter the list by cuisine, cost, and other parameters. Additional information, including Yelp reviews, hours, and delivery range is also available. From there, diners can order meals tailored to their exact specifications. EatStreet also offers diners exclusive specials and coupons through its rewards program.[14]

Charity

Give Back Program (February 2010 - July 2014)

From February, 2010 to July, 2014, EatStreet donated 5% of its profits to community-based nonprofit and student organizations. When ordering, diners could choose to which of EatStreet's partners they would like 5% of the profits from their order to be donated. EatStreet had many charitable partners, including Habitat for Humanity, Relay for Life, Aids Network, Wisconsin Humane Society, Iowa Youth Writing Program, Christine Ann Domestic Abuse Services, Camp Kesem at MSU, Big Brothers Big Sisters of Greater Pittsburgh, Boys and Girls Club of Greater Milwaukee, Eau Claire YMCA, and Virginia Red Cross.[14]

In addition to the regular 5% donations, EatStreet also orchestrated "Give Back Weeks," during which a large percentage of their weekly profits are donated to a partnering nonprofit. For example, EatStreet supported Hurricane Sandy relief by donating 100% of their weekly profits to the Red Cross in Richmond, VA, and Wilmington, NC.

Serve Up A Smile (August 2014 - Present)

On Giving Tuesday, 2014, EatStreet and Meals On Wheels of America announced their “Serve Up A Smile” program to help communities across America fight senior isolation and under. As diners order food through EatStreet’s website and app, EatStreet will support Meals On Wheels Association of America with a minimum annual donation of $50,000 [15]

"EatStreet's dedicated efforts will help us to support local Meals on Wheels programs across the country as they deliver the nutritious meals, friendly visits, and safety checks that enable America's seniors to live independently in their own homes, where they want to be. Together, we're committed to serve up a smile for seniors in need." - Ellie Hollander, President and CEO, Meals On Wheels of America.[16]

Markets

EatStreet currently serves restaurants and diners in part of the United States. Cites include[14]Champaign, IL, Columbus, OH, East Lansing, MI, Eau Claire, WI, Greensboro, NC, Iowa City, IA, Ithaca, NY, Kalamazoo, MI, Lawrence, KS, Lexington, KY, Los Angeles, CA, Madison, WI, Manhattan, KS, Miami, FL, Milwaukee, WI, Minneapolis–Saint Paul, MN, New York, NY, Oshkosh, WI, Pittsburgh, PA, Raleigh, NC, Richmond, VA, Toledo, OH, Tucson, AZ, Wilmington, NC, and West Lafayette, IN.

References

  1. ↑ Rick Romell. "Madison start-up EatStreet gobbles up more online restaurant orders". jsonline.com.
  2. ↑ CrunchBase
  3. 1 2 Judy Newman - Wisconsin State Journal. "Online food ordering company EatStreet looks to be Madison's answer to GrubHub". madison.com.
  4. ↑ Kathleen Gallagher. "EatStreet raises $2 million in angel investment funds". jsonline.com.
  5. ↑ "Online Ordering Platform For Restaurants EatStreet Raises $2 Million Series A By Focusing On Underserved Markets". TechCrunch. AOL.
  6. ↑ "Following GrubHub IPO, Online Food Ordering Platform EatStreet Raises $6 Million". TechCrunch. AOL.
  7. ↑ "Deals of the day: Questcor Pharma agrees to $5.6 billion deal". Fortune.
  8. ↑ EatStreet partners with Yelp for ordering ease. finance.yahoo.com
  9. ↑ Kathleen Gallagher. Venture funding hits $10 million for Madison's EatStreet.. jsonline.com
  10. ↑ "INSIGHT: Hot And Fresh Out The Kitchen - 8 Food Delivery Startups To Watch". StrategyEye - Digital Media.
  11. ↑ "28. Matt Howard". madisonmagazine.com.
  12. ↑ National Restaurant Association
  13. ↑ Judy Newman - Wisconsin State Journal. "Tech and Biotech: Madison Web startup EatStreet lands $2M in first investment round". madison.com.
  14. 1 2 3 4 Official site
  15. ↑ Neil Heinen - WISC-TV3. Madison techies team up with Meals on Wheels to "Serve Up A Smile"'.
  16. ↑ EatStreet and Meals On Wheels Association of America Announce $50,000 Plan to Keep Seniors Smiling. PR Newswire.

External links

This article is issued from Wikipedia - version of the Saturday, April 23, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.