Groupon paid $69M in cash for OrderUp - Technical.ly Baltimore

Business

Aug. 19, 2015 11:44 am

Groupon paid $69M in cash for OrderUp

A quarterly report filed with the SEC has more details on the deal.

OrderUp's Canton offices.

(Courtesy photo)

OrderUp was acquired by Groupon for $69 million in cash in July, according to a quarterly report filed with the SEC. The deal has a contingency of an additional $20 million after valuation of OrderUp’s assets, which could make it worth $89 million when all is done, the report states.

OrderUp, the seven-year-old Baltimore-based online food delivery company, delivered some of the biggest Baltimore tech news of the year so far when it announced the acquisition by the Chicago-based company best known for online deals.

The value of the deal wasn’t immediately disclosed by the two companies when they announced the agreement on July 16. That’s lead to a month of handicapping and napkin scribbling among Baltimore’s tech community as they tried to figure out how much Groupon paid. Credit Baltimore Business Journal for picking out the valuation first.

OrderUp will remain a standalone brand and keep its headquarters in Baltimore. With the deal, Groupon is moving aggressively into the online delivery space as it seeks to take on early leaders like GrubHub. OrderUp CEO Chris Jeffery said he saw value in Groupon’s resources and reach into bigger markets, while Groupon was interested in OrderUp’s technology and existing presence in about 40 midsize cities and college towns.

Two weeks after the OrderUp acquisition, Groupon formally launched a food delivery branch called Groupon To Go. That service, which purports to save customers 10 percent on every order, is initially available in Chicago.

This week, Uber moved into the food space by launching UberEats in San Francisco.

Companies: OrderUp, Groupon
People: Chris Jeffery
-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here

Advertisement

Maryland’s ID Agent acquired by Kaseya

Facebook is launching Birthday Stories with free cupcakes

University of Maryland Medical Center received the first drone-delivered organ used for transplant

SPONSORED

Baltimore

Building a data acquisition system? Don’t make this mistake

Baltimore, MD 21201

14 West

Junior Database Administrator

Apply Now
Baltimore, MD

Whitebox

Javascript Developer

Apply Now
Baltimore

14 West

Reporting Analyst

Apply Now

Lyft is expanding its grocery access program to Baltimore

Hanover-based KeyW to be acquired by Jacobs Engineering Group in $815M deal

The acquisition deal for Columbia-based Osiris Therapeutics is now complete

SPONSORED

Baltimore

How SmartLogic accelerated these startups’ product growth trajectories

Baltimore

14 West

Project Analyst

Apply Now
Baltimore

14 West

Senior Java Software Engineer

Apply Now
Baltimore

14 West

Project Specialist

Apply Now

Sign-up for daily news updates from Technical.ly Baltimore

Do NOT follow this link or you will be banned from the site!