(Image Source: goPuff)
goPuff, a delivery startup has successfully raised $1.15 billion at an $8.9 billion valuation funding round. In the last funding round, the Philadelphia-based startup raised $480million and acquired West Coast beverage retailer, BevMo.
goPuff’s services are available in more than 650 U.S cities over 250 micro-fulfillment centers, they offer delivery services for a wide range of products within 30 minutes at a flat rate of $1.95. The company has a unique model – vertically integrated approach by purchasing goods directly from merchants and re-distribute them through their fulfillment centers.
The company will be expanding its product lineup:
“People, throughout our whole existence, have tried to put us into an industry: ‘Are you convenience? Are you pharmacy?’ The reality is that we’re neither. We’re in this category of instant needs, and our production innovation solely stems from consumer demand … There’s no category we offer on goPuff that consumers weren’t crying out for.” CEO Ilishayev said.
goPuff will be dedicating the money raised to expand both the business and its services across the U.S and internationally.