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Online catering marketplace ezCater gets another $150M at a $1.25B valuation – TechCrunch

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In 2007, Stefania Mallett and Briscoe Rodgers conceived of ezCater, an online marketplace for business catering, and began building the company in Mallet’s Boston home, mostly at her kitchen table.

Recently, sitting at that same table, Mallett negotiated with Brad Twohig of Lightspeed Venture Partners the final terms of a $150 million Series D-1 at a $1.25 billion valuation. Lightspeed, alongside GIC, co-led the round, with participation from Light Street Capital, Wellington Management, ICONIQ Capital and Quadrille Capital.

“Raising money or getting to unicorn status, it’s all nice validation but that’s not the purpose, the purpose of being in business is to grow a very successful company with happy customers and happy employees,” Mallett, ezCater’s chief executive officer, told TechCrunch. “We are going to have cupcakes with unicorns on them. That will take us about a half hour, then we will get back to work.”

EzCater co-founder and CEO Stefania Mallett

Mallett compares ezCater to Expedia . The travel company doesn’t own and operate hotels, nor do they create them. EzCater, similarly, works with 60,500 restaurants and caterers around the U.S. to fulfill orders, but at no point do they work directly with food nor make any deliveries themselves.

Since its inception, the ezCater marketplace has grown considerably, expanding 100 percent annually for the last eight years, Mallett tells us. Though, like most unicorns, ezCater isn’t profitable yet.

Both Mallett and Rodgers are software industry veterans, establishing engineering careers prior to tackling business catering. The pair bootstrapped the company until 2011, when they secured a small Series A investment of $2.7 million. That same year, U.S. foodtech startups raised $176 million, per PitchBook. EzCater would go on to raise more than $300 million in equity funding, including its latest round, and VC interest in foodtech would explode. Already this year, U.S. foodtech startups have brought in $626 million after pulling in a whopping $5 billion in 2018.

EzCater has benefited from this boom. The company raised a $100 million Series D just 10 months ago.

“We really didn’t need the money, we have quite a lot of money in the bank from the last round,” Mallett said. “There was so much talk of a funding winter and a recession coming so we said maybe we should try to raise money and then people jumped on it so we thought OK, why not? If there is a funding winter, we’re set; if not, well, we are still set.”

The investment comes hot off the heels of ezCater’s acquisition of Monkey Group, a cloud platform for take-out, delivery and catering. Mallett declined to disclose terms of the deal but said the partnership makes ezCater the indisputable market leader in catering management software. The company will use its recently expanded war chest to accelerate its international expansion and, potentially, continue its M&A streak. As for the future, an initial public offering is amongst the possibilities.

“We certainly are considering it,” Mallett said. “As we’ve grown, we’ve become more sophisticated and mature; that puts us in a good position to continue operating as a successful standalone company or be acquired by a public company or go public if we see an opportunity to do that. We are not wedded to any of these outcomes.”

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Facebook posts can now be exported to Google Docs, WordPress

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Depending on how you look at it, Facebook may have surpassed Google in being the poster child for harvesting personal data on the Internet. Considering how much of people’s online lives and information it has in its possession, the social media giant regularly gets pushed, mostly through laws and regulations, to take certain steps to secure and unlock users’ information. Part of that is allowing users to move their data outside of Facebook and a new export tool will let them do just that to transfer their posts to other online services.

The ability to export Facebook data has actually been around for a few years now. It’s part of the Data Transfer Project, an agreement among some of the Big Tech companies to allow users to move some of their data across different and competing services. Last year, Facebook made it possible to transfer photos to Google Photos and now it’s doing something similar for posts themselves.

According to the blog post, Facebook users can go to their account’s “Your Facebook Information” Settings to select Transfer Your Information. You can select either Photos or Notes (but not both at the same time) and have them copied over to Google Docs or WordPress. You will then be asked to log into those external accounts before the transfer begins.

Facebook promises that the tool is secure and private and that data is encrypted as it moves between services. Comments to posts are not exported, however, since they’re associated with someone else’s Facebook account.

It’s a small but important step for Facebook users to have their data unshackled from the social network’s walls, at least when they need to. Facebook is, of course, simply complying with regional laws and probably doesn’t expect most users to utilize them, anyway.

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Sony’s latest Home Cinema Projector has native 4K and a huge price tag

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Sony has announced two new projectors designed for home theaters: the VPL-VW325ES and VPL-VW1025ES. Both models feature native 4K support, according to Sony, which packed in features like its X1 projector picture processor and dynamic HDR enhancement. Both models are available now, but they come with substantial price tags.

The notable feature with both of these new Sony projectors is the inclusion of its ‘X1 for projector’ picture processor, which is based on the same tech found in the company’s BRAVIA televisions. The hardware has been, according to Sony, optimized for use in projectors to enable features like the aforementioned dynamic HDR enhancement.

Both models offer native 4096 x 2160 resolution for a true 4K home theater experience. Sony includes some of the features from the previous generation, including an input-lag reduction mode, but adds what the company says is ‘dramatically’ improved performance when it comes to display reaction speed.

These things should make the projectors a suitable option for gamers who want to play on the extra-big screen. Both models can likewise upscale FHD and 2K content to 4K resolution. There are some differences between the two models, however, including both the light source and lenses used.

The VPL-VW325ES model features a 1,500-lumen lamp as a light source, while the VPL-VW1025ES model has a brighter 2,200-lumen laser light source. Likewise, the latter model also has an All-Range Crisp Focus (ARC-F) lens that offers ‘pristine’ image quality from edge to edge, according to Sony.

Getting that benefit won’t come cheap, however, as the VPL-VW1025ES projector is priced at $39,999.99 USD. The VPL-VW325ES model, meanwhile, is more affordable at $5,499 USD. Both models can be preordered now.

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Geico security breach exposed customers’ driver’s license numbers

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A letter submitted by insurance company Geico to the California attorney general’s office details a data breach that took place earlier this year, exposing customers’ driver’s license numbers. The letter doesn’t include certain pertinent details such as how many people were potentially impacted by the security issue, though it did note the numbers may be used as part of unemployment benefits fraud.

The letter, which was first spied by TechCrunch, is dated April 9 and explains that the security incident took place from January 21 to March 1. During that time, the hacker(s) used customer data “acquired elsewhere” to get access to Geico subscribers’ driver’s license numbers using the company’s online sales system.

The company’s letter explains that it believes “this information could be used to fraudulently apply for unemployment benefits” in the customers’ names. For this reason, Geico customers who receive any unexpected mail from their state’s unemployment agency are encouraged to check it for signs of fraud taking place in their name.

Geico notes that it secured its website when it learned about the issue and that it investigated the cause of the breach. The company’s letter says that Geico has “implemented — and continues to implement — additional security enhancements to help prevent future fraud and illegal activities on our website.”

The company hasn’t yet published a security breach note on its website, but the letter is written to customers and explains that they will be offered a year’s subscription to IdentityForce for identity theft protection. The letter, it seems, includes a one-time code the customers can use to activate the free data monitoring service.

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