Frustrated by the lack of delivery information available on the Internet, Matt Maloney and Mike Evans created an online service to organize delivery information called GrubHub. The co-founders, Maloney, who is CEO and Evans, who is COO, have more than 13,000 menus listed on their site.
Visitors to GrubHub.com type in their address and the results page will display every local restaurant that delivers to them with the restaurants’ menus, available coupons and user reviews. Diners can order directly online, by phone or through the GrubHub iPhone and Android apps.
The site is completely free to use. Restaurants pay commissions on each order processed through the site in order to receive online orders that are supported by GrubHub’s nonstop customer service team. Restaurants that don’t partner with GrubHub can still list their telephone numbers and menus for free.
Maloney and Evans won the University of Chicago New Venture Challenge in 2006 and have since received several rounds of funding to keep their website service on top of the competition. Their ability to raise capital from top-tier investment firms during a slumping economy is a sign that GrubHub is the market leader in its space. The company has doubled its growth year over year by successfully launching new markets and driving more orders through its online and mobile platforms.
As GrubHub continues to grow its online presence, the company is looking to innovate and develop mobile apps that will be key for moving forward. When the company launched its iPhone app in 2009, it saw a 300 percent increase in its install base in the first nine months.
There are more than 300,000 delivery and takeout restaurants in the country. According to the National Restaurant Association, carryout and delivery are the fastest-growing segments in the restaurant industry, which is one of the largest sectors of the U.S. economy. GrubHub currently serves 13 markets and has plans to double its footprint to 26 cities by the end of 2011.
HOW TO REACH: GrubHub, (877) 585-7878 or www.grubhub.com