Grubhub Completes Deal to Buy Tapingo
Third-party delivery company Grubhub closed its previously announced acquisition of Tapingo, a platform for campus food ordering. Under terms of the agreement, Grubhub paid $150 million in cash for Tapingo, funded through cash on hand and Grubhub's existing credit facility.
Tapingo's technology, currently used by more than 150 colleges and universities nationwide, directly integrates mobile ordering into campus meal plans and point-of-sale systems. Tapingo powers tens of thousands of order-ahead pickup transactions per day and serves more than half a million active diners at on-campus cafes, restaurants, and cashier-less stores.
Grubhub's restaurant marketplace and delivery operations complement the Tapingo platform and will enable campus dining programs to expand delivery capabilities and access more diners both on and off campus, while providing students with greater convenience and more restaurant options.
Additionally, on Oct. 30, Grubhub closed its previously announced acquisition of 11 franchisee-owned OrderUp food delivery markets, which add to the 27 OrderUp markets Grubhub acquired in 2017. Terms of the transaction were not disclosed.