The advancement of technology has led us to an automated life. Over the last few years, we have seen a generous spike in internet usage. And the introduction of in-built GPS systems made these services truly relatable and convenient.
Besides, they are making the delivery of food and goods cheaper and faster. Due to the hike in these delivery services, battles for the best apps are on, like Uber eats vs Doordash, Grubhub vs. goPuff, and many more.
Amidst all these battles and rivals, if you are gearing up to start your own food delivery business, then you can easily understand the current market needs through this article. But first, it is essential to know some basic information about this well-known food delivery app called ‘Grubhub’.
Inception Story of Grubhub
The foundation of Grubhub was laid by Matt Maloney and Mike Evans in Chicago in 2004. But do you know the idea behind building this innovative app? The thought for the app arrived in the founder’s mind because there was a significant limitation in the food deliveries they wanted in their convenience.
In the early 2000s, the idea occurred because food delivery was a limitation, as people were thriving only on a single restaurant menu when ordering. And finding multiple options in food and restaurants was a task. They understood the need to start an online food delivery site and started preparing for their first step.
Moreover, Grubhub did not directly jump into the commission-based model for its revenue but started with offering in the market placement by charging for it. However, later they came up with its current revenue model, contributing enormously to Grubhub revenue. Now, as we have peeped into the inception story, let’s grab some details of this app.
Trivia Information on Grubhub
Grubhub was introduced in 2004 and had its headquarters in Illinois, USA. The company was made public three years later to its inception in 2007.
Besides, right now, we see an active user base of over 30 million who purchase through the app at least once a month. It became huge due to its effective food delivery business model, which made the company gain profits in the last eighteen years.
A massive chain of restaurants is associated with Grubhub and is expected to take over the world in the future. Moreover, this public company is giving services as an on-demand food delivery app in over 4000 cities of USA and Canada. And the parent company of this humongous start-up is ‘Just Eat Takeaway’.
Grubhub food delivery app did not go on to make only profits. It has seen its share of losses after going public in 2007. But they still succeed in surviving in this competitive market. It has climbed over, making an outrageous income for the company. Let’s move to the part of understanding the vital statistics that will quickly help you understand the business and its expansion better.
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Key Statistics of Grubhub to Get the Better Business Overview
Here are some of the key statistics which will help you in analyzing the business probably in a more effective way:
It is expected that on-demand food delivery apps will flare up to be the $365 Billion industry by 2030. Hence, starting a business like Grubhub is a very remunerative solution.
And Grubhub revenue can be easily estimated by looking into its monthly sales of May 2022, which reached over 13% of its average sales even though it is in this tough competitive online food delivery market.
Besides, the revenue earned up to 2021 is mentioned below for the overview in these bullet points:
- Due to the merger with Seamless in 2013, Grubhub’s revenue went on to make revenue 39% higher than in its previous year.
- By 2016, it made 3x revenue up to $493 million.
- In 2021, it pushed on making a massive $2123 million in revenue despite being dropped a bit in the mid after the merger, but it still regained its position in the market.
The primary reason for generating such gigantic revenue figure due to its exemplary services providing a perfect solution in these fourteen years.
Besides, the number of restaurant statistics is also essential as they are the significant sources of revenue building, as they are the one responsible in making Grubhub app such a profitable business.
Many restaurants already have partnered with the Grubhub app, and as per the recently found statistics:
- By 2019 it reached around 115,000 restaurants associated with the app in the United States.
- As per the stats, in 2021, they partnered with 3,24,000 restaurants, which is one of the reasons for the multiplied Grubhub revenue.
The drivers also play an essential role in giving customers the best of your delivery services.
The driver statistics of the Grubhub app are increasing slowly and gradually; hence here are the stats to prove it:
- As per the stats, the Grubhub app had 65,000 active drivers.
- Though 2022 is ending, over 250,000 drivers are already associated with the app, accelerating Grubhub revenue.
Let’s move on to see the user statistics that have increased over the years tremendously due to its mind-blowing expansion.
Since its inception up to this very day, there has been tremendous growth in the usage of the app:
- Like in 2013, the user count for the Grubhub app was 3.4m, but as time passed, people have seen massive positive differences.
- Throughout these years, the app has seen tremendous success. Hence by 2017, this user rate went up to 14.5m.
- And in the year 2021, it will hike again to 33.8m which is vast and expected to gradually increase your reach in the upcoming years.
The major contributor to such a vast user base is its intriguing features, which continuously boost Grubhub revenue.
The online food delivery services market has rapidly grown over the last couple of years. And if you desire to build a similar successful app, then Grubhub clone app development is your best bet! That’s because it is an affordable and quick solution for your business to go online with the services.
Many people are currently depending on these on-demand food delivery services, and it has already become a new normal to order food online. But by the end of 2030, it is expected that people will equip themselves thoroughly with these services in every corner of the world.
Therefore, it is the best time to enter this market by developing your own app which can be as successful as Grubhub. Besides, a clone app development with up-to-date market updates is quite a good idea to boost your customer base and make it gain massive fame and name in the market.