Tuesday, September 27, 2016

FreshDirect dominates grocery delivery in New York. Now it has $189 million to compete elsewhere.

Image result for freshdirectFreshDirect, an online grocer that has a large following in the New York metropolitan area, has secured a $189 million investment led by JPMorgan Asset Management. The money will be used to launch its grocery delivery service in more cities, and to expand new business units and incubate others.

The New York City-based company was founded in 1999 and began delivering groceries to customer’s homes in 2002. Since then, it has focused its efforts on the New York metro area and Philadelphia, and says it has more than $600 million in annual revenue, and has been cash-flow positive since 2010.. . . more

No comments: