We’ve Raised $80M, Led by Tiger Global Management
The first six months of 2015 flew by really fast, and we’re proud to share some major milestones from a very busy and exciting year so far:
- We recently surpassed 2.5 million deliveries across 28 markets
- We’ve launched Postmates in 10 new markets
- Our gross profit is on track to grow by more than 10x in 2015, compared to 2014
- We introduced partnerships with amazing companies such as Apple, Starbucks and Chipotle
- Our Preferred Merchant Program now has more than 1,000 merchant partners, which means lower delivery fees for our customers and up to 3x the revenues for merchants
- We now have over 13,000 Postmates doing deliveries
With more and more pieces of our original vision for Postmates now a reality, we’re excited to announce that Postmates has raised $80M in new funding. The round, which will allow us to grow the company even faster, was led by Tiger Global Management.
As part of the funding, Lee Fixel, a partner at Tiger Global, will be joining our Board.
Almost three years ago, Postmates started with the simple idea of offering deliveries from restaurants that didn’t deliver themselves. But delivery of food is only the beginning of our journey, and our vision has always been to power on-demand deliveries for all retailers and merchants in a city. Food is for Postmates, what books were for Amazon. The universal demand, a low price point, and unlimited inventory of food allowed us to reach scale quickly — similar to Amazon’s approach with books.
The early focus on prepared food was successful, and today we’re operating the largest on-demand delivery fleet in the U.S. This new funding will not only enable us to drive our geographic expansion forward, but also to grow our key teams and to explore the first of many new categories beyond food.
We have an exciting journey ahead, and we’re just getting started. Join us!
Bastian Lehmann is the Co-founder and CEO of Postmates
