[NEWS] Postmates has launched in 1,000 new cities since December – Loganspace

Postmatesis expanding esteem loopy sooner than anpreliminary public offeringanticipated later this year. The meals supply replace has launched in 1,000 fresh cities since December, the company presented at the present time.

San Francisco-based Postmates now operates its on-demand supply platform, powered by a community of native gig economy workers, in 3,500 cities across all 50 states. Postmates does not but operate in any world markets except Mexico Metropolis.

“We desire to permit any individual to get one thing delivered on demand and this most up-to-date expansion enables us to exclaim on that promise across all 50 states within the US,” Postmates co-founder and chief government officerBastian Lehmannacknowledged in an announcement.

The corporate says it now reaches 70 p.c of U.S. households and delivers meals from some 500,000 drinking locations, serving to it to compete with meals-supply powerhousesUberEats and DoorDash. Moreover, Postmates not too long within the past launchedPostmates Party, a brand fresh unbiased that lets customers throughout the same neighborhood pool their orders.

Postmates is poised to prepare Uber into the final public markets. The corporate — which has raised bigger than $670 million in venture capital funding, including a$100 millionpre-IPO financing in January that valued the replace at $1.85 billion —filed confidentiallyfor a U.S. IPO in February.

The corporate completes 5 million deliveries per month and used to bereportedlyanticipated to file $400 million in income in 2018 on meals gross sales of $1.2 billion. Uber Eats, for its share, used to be anticipated to start reaching70 p.cof the U.S. households by the discontinue of 2018 and reportedly has plans within the worksto use drones to exclaim meals by 2021.

DoorDash,within the interim, is a rocketship. The meals supply company is active in 3,300 cities and claims to be rising 325 p.c year-over-year. The corporate not too long within the past closed a$400 million Sequence F financingat a $7.1 billion valuation. It’s seemingly to pass public within the following year, too.