iFood operates a food-delivery marketplace and technology platform that connects consumers, restaurants and a large courier network. The service is a core business unit of Brazilian technology conglomerate Movile and is central to Movile’s strategy to link online and offline commerce. iFood reported strong operating metrics in the article: roughly 10.4 million delivery orders in October, 390,000 daily orders in Brazil in late October (109% year-over-year growth), about 10.8 million monthly orders serving 9 million Brazilian customers, and a network of 50,000 restaurants and 120,000 couriers. Movile overall is cited as having estimated revenues of more than $240 million and more than 150 million monthly active users. Future plans described include investing in a state-of-the-art technology platform and growing courier and restaurant partners to better serve customers across Latin America, as iFood is positioned to lead Movile’s expansion. The business is presented as fueling Movile’s wider goal of reaching one billion people through its ecosystem of content, payments and delivery services. iFood operates a mobile-first online food delivery service in Brazil, partnering with restaurants to enable phone-based ordering and fulfillment. The company has signed deals with over 10,000 partner restaurants and is handling roughly 1.7 million deliveries each month. iFood emphasizes improving its mobile experience and plans regional expansion, including a push into Mexico tied to acquiring SinDelantal. It recently secured a $30 million financing to support that regional expansion and consolidation. Movile is a majority backer and JUST EAT is a significant shareholder, and iFood has been active in M&A to grow its footprint. iFood operates a mobile-first food delivery app that enables customers to order takeout across Brazil, with strong emphasis on mobile ordering. The company reports that roughly 75% of its orders and nine out of ten new users come from mobile. It closed 2014 with over 500,000 delivery requests per month, capturing about 80% of Brazil’s online restaurant delivery market and growing 10–12% month over month (targeting one million deliveries per month by year-end). iFood relies on a delivery fleet (about 900 moto-bike drivers through a partnership with Movile’s Rapiddo) and has expanded rapidly since a 2011 spin-out from Disk Cook. Management says the capital will be used to close the online-ordering gap, boost marketing, expand into more cities, and build out team and technology. iFood is an online food-delivery platform that offers ordering and delivery through web and mobile apps. Its core product connects consumers to restaurants for delivery and the company launched iPhone and Android apps roughly six months before the article. Mobile orders grew from zero to 20% of overall business in that six-month span. iFood is fulfilling more than 50,000 orders per month from over 1,000 restaurants, and its revenues were rising at about 10% per month. The company expects to be used by more than 5,000 restaurants by 2014 and sees a $4 billion opportunity in Brazil. iFood is positioned to expand into other Latin American markets and potentially the U.S., with support from mobile-distribution partners.

Total raised

$483M

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2018