Grubhub Parent Company Buys Restaurant Rewards Startup Claim
▼ Summary
– Wonder, the parent company of Grubhub, has acquired the restaurant rewards app Claim.
– Claim offers cash-back rewards to diners and provides partner restaurants with tools to boost traffic and track performance.
– The acquisition will integrate Claim’s customer acquisition tools into Grubhub’s platform to provide savings for diners and lower costs for restaurants.
– Claim is initially available to Grubhub users in New York City, with a nationwide rollout planned for later this year.
– All Claim team members were offered positions at Grubhub, and the app will remain available independently for the time being.
Wonder, the parent company of the food delivery service Grubhub, has completed the acquisition of Claim, a startup specializing in restaurant rewards. This strategic move aims to integrate cash-back incentives directly into the dining ecosystem, offering new tools for restaurants and additional savings for customers. The deal’s financial specifics remain confidential, though Claim had previously secured significant funding, with industry estimates placing its value around $62 million.
Founded in 2021, Claim operates a platform where local restaurants can create promotions to attract customers. Users earn cash-back rewards for dine-in or pick-up orders, which they redeem through the app. Partnering restaurants gain access to a dashboard for tracking campaign performance and boosting foot traffic. For Grubhub, this acquisition provides its vast network of restaurant partners with advanced customer acquisition and retention tools. Diners using Grubhub can now look forward to more opportunities for savings and rewards when they visit participating eateries.
Claim’s CEO and co-founder, Sam Obletz, expressed enthusiasm about the merger. He stated that combining an engaging rewards experience with sophisticated machine learning models helps restaurants connect with potential regulars. Obletz believes joining Grubhub represents a pivotal chapter for scaling their impact to reach millions more diners and thousands of additional restaurants.
All members of the Claim team have received offers to join Grubhub. The integration plans involve enabling more restaurants to connect with consumers through personalized rewards programs. Grubhub asserts this approach will reduce customer acquisition costs and encourage repeat visits without complicating daily operations for restaurant owners.
Howard Migdal, CEO of Grubhub, highlighted the strategic fit. He noted that Claim’s innovative technology introduces a powerful method for restaurant partners to engage in-person diners, complementing Grubhub’s existing marketing suite. Migdal emphasized the opportunity to scale Claim’s data-driven tools across Grubhub’s network of over 415,000 merchants and nearly 20 million active diners, helping them save money at their favorite local spots.
Initially, Claim’s services are available to Grubhub merchants and diners in New York City, with a nationwide expansion planned for later this year. For the immediate future, Claim will continue operating through its standalone app and website for its current user base. Grubhub indicated that over the coming months, the focus will be on creating a more streamlined experience across both platforms, though specific integration details were not disclosed.
Existing Claim users might notice some changes to the product and reward payout processes. However, the company assures them they can continue to expect personalized promotions and rewards for supporting local restaurants. Claim’s investor roster included notable firms such as VMG Technology, Sequoia Capital, Susa Ventures, Lightbank, and Metalab Ventures.
(Source: TechCrunch)
