Grubhub Announces Acquisition of Tapingo

Grubhub Announces Acquisition of Tapingo

With more than 150 college campus providers, Tapingo makes it possible for many order-ahead purchases per day and more than half a million active diners at campus cafes, eateries, and cashier-less stores. Their blend of Tapingo's network along with Grubhub's restaurant marketplace and delivery capabilities is going to draw more significant advantages to students and assist campus restaurants in taking advantage of more pickup and delivery orders.

"We are excited to add Tapingo, a company that shares our vision of bringing greater convenience to diners and improving the restaurant ordering and pickup experience through technology," said Matt Maloney, GrubHub's founder and chief executive officer. "We value the college student population, many of whom we hope become life-long GrubHub diners with their first order. Tapingo makes students' lives easier, allows merchants to capitalize on online ordering efficiently, and enables colleges and universities to give students the technology they've come to expect."

"Joining GrubHub is an important step forward for Tapingo. GrubHub is the industry leader in food delivery, allowing us to provide even greater value to our campus partners and student diners with access to Grubhub's technology and delivery expertise," said Daniel Almog, Tapingo's co-founder and chief executive officer. "By joining forces with Grubhub's network of over 85,000 restaurant partners that offer online delivery and pickup, we'll continue to serve our loyal diners long after they graduate from college, which has always been our aspiration."

GrubHub entered into a definitive contract to obtain Tapingo for around $150 million, subject to standard closing conditions. The purchase is anticipated to close in the fourth quarter of 2018. GrubHub is going to reveal the financial impact of the expected acquisition in its third-quarter profits call.