GrubHub co-founder Matt Maloney took his Chicago food ordering service from scrappy startup to a public company worth $3 billion. In the last 5 years, insiders at Grubhub Inc have sold an estimated value of $598.35M Mr. Maloney owns over 16,561 units of Just Eat Takeaway.com N.V stock worth over $173,008 and over the last 8 years he sold GRUB stock worth over $141,545,561. Grubhub spent $319 million on operations and support to handle the growth in order volume and $120 million on sales and marketing, particularly to help drive orders to struggling restaurants. Legacy EJY Inc, formerly Enjoy Technology Inc is a technology-powered platform reinventing Commerce at Home to bring the best of the store directly to the customer. In 2004, he and co-worker Mike Evans launched GrubHub, an online food-ordering service, in Chicago. Moreover, Matt currently serves as an advisory board member for The University of Chicago Booth School of Business Polsky Center for Entrepreneurship and a member of ChicagoNEXT, an organization dedicated to driving growth and opportunity in the Chicago business community. Enter your email address below to get our daily insider buying and selling report. of 0 shares. Mr. Maloney boasts that GrubHub . Maloney joined JET's board following the acquisition and was replaced as Grubhub CEO by Adam DeWitt, who had been the company's CFO for nearly a decade. After that Matt Maloney had done graduation in Bahlor degree in US state university. Grubhub has also lost market share across the country, accounting for 17 percent of US food delivery sales in May compared to 21 percent for Uber Eats and 57 percent for Doordash, according to Second Measure. Billionaire Ken Griffin, Illinois richest man, paid $58.75 million in November for the top four floors in the Near North condominium building at 9 W. Walton St., known as No. We tried to raise venture capital to do that, but it was taking too long. Matt Maloney has made 3 investments. the CEO of GrubHub Inc and owns about 4,635 shares of GrubHub Inc (GRUB) stock worth over $83,476. director & 10 percent owner Ennv Gp, Llc Personal Investments. of 0 shares. "I did not ask anyone . Matt Maloney - Food Delivery App Idea - Grubhub. and Our tablet technology, on the other hand, wasn't so obvious. director & Chief Executive Officer Ronald B Johnson Grubhub has over 50,000 restaurant partners. $300K . After making the Inc. 500 in 2010 and 2011, GrubHub hit $137 million in revenue in 2013. Stay strong, Matt. Matthew M Maloney's largest sale order was 151,013 units , worth over Following the completion of the sale, the chief executive officer now directly owns 4,635 shares of the company's stock, valued at $352,074.60. Mr. Maloney is the founder and CEO of Grubhub a leading online and mobile food-ordering and delivery marketplace with the largest and most comprehensive network of restaurant partners. We opened in San Francisco in October 2007 and closed our first capital round that November. No widgets added. Competitive Advantage - Grubhub does not have a competitive advantage. In an email to his employees following the presidential election, GrubHub CEO Matt Maloney revealed that he doesn't think much of President-elect Donald Trump's attitude: "While demeaning . Discover Opportunities in the New Copper Hotspot, Maloney guided Grubhub through five rounds of investment funding, a merger with then-rival food ordering company. GrubHub CEO Matt Maloney made . We had noticed that the person managing the outdoor ads was really bad at taking them down, so we knew if we bought a month of space, we'd get five. Who Are the Richest Soccer Players and What is Their Net Worth? Matt Maloney Founder Matt Maloney is a managing director at Just Eat Takeaway.com (JET) and founder of Grubhub. Matt was named one of Americas most powerful CEOs 40 and under in Forbes Magazine in 2016 and one of the top 50 business people of 2014 by Fortune Magazine. The next step was expanding to a second city. During the past 18 months, 0 shares of Fast Radius Inc (FSRDQ) were sold and 0 shares were bought by its insiders, resulting in a net . Its very hard to trick a consumer to pay more than they want to pay, Maloney said on an earnings call, adding that consumers are incredibly price sensitive, they understand what they are paying., 2023 NYP Holdings, Inc. All Rights Reserved, Grubhub lobbies to loosen NYCs pandemic-era fee cap law as it sues city, Grubhub owner jokes about Katy Perry ad as it takes $3B writedown, Alleged Bronx rapist, caught when one victim used Grubhub to call for help, faces multiple sex crimes, How Amazon Prime subscribers can get Grubhub Plus free for a year, regulations aimed at curbing the fees delivery services charge to restaurants, plummeting by 43 percent after a poor earnings report on Oct. 29, 2019. TexasLynn's Commentary on Matt . Seamless consistently made very smart decisions, both with product and marketing. Legacy EJY Inc (ENJYQ) Likewise, Mr. Maloney also serves on the board of directors of the Museum of Science and Industry in Chicago. Get notified the next time Matthew M. Maloney buys or sells Just Eat Takeaway.com stock. Still, expanding to a second market was really difficult, because we weren't living there. Seamless, in 2013, and its IPO in 2014. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. These days, nearly 50 percent of orders are placed via mobile devices. His net worth sits at US$9.8bn - up from US$3.5bn in 2022. Just Eat Takeaway.com N.V. operates an online food delivery marketplace. Above is the net worth, insider trading, and ownership report for Matthew M. Maloney. Over the past couple of years, Grubhub has steadily lost market share to rivals Doordash and Uber Eats across the county and in its core market, the Big Apple. During their debut decade, Grubhub and Seamless were dominant in the food delivery market, but they began competing against each other as food delivery began to take off in the early 2010s. About. The big difference is that we have an extra $200 million on our balance sheet. On Wednesday Matt made the conscience decision to send out an email to all 1400 employees of GrubHub. Bob Goldsborough is a freelance reporter. . , Matt Maloney, Grubhub's founder and CEO, will join Just Eat Takeaway.com's board and will lead the company's North American business, the companies said. They had an operating income of $89.7 million and a net income of $98.9 million. from Michigan State University and an M.B.A. and MSCS from the University of Chicago. Currently, Mr. Maloney occupies the position of Chief Executive Officer & Director at Grubhub, Inc. and Chief Executive Officer at Dotmenu, Inc. and Chief Executive Officer & Director at GrubHub Holdings, Inc. (both are subsidiaries of Grubhub, Inc.). $200 per post at $10/CPM. The takeout executive serves on the boards of the Museum of Science and Industry in Chicago, the Polsky Center of Entrepreneurship and Innovation at the University of Chicago Booth School of Business, Marquee Raine Acquisition Corp. and Merge Healthcare Incorporated. 9 Walton. Joining me today to discuss GrubHub results are our Founder and. The latest from Restaurant Business, sent straight to your inbox. That was major--it's a lot easier to pull out your phone and order with three thumb taps. You can see the complete history of Mr. Maloney stock trades at the bottom of the page. The company has pioneered a new retail experience which can do everything a traditional retail experience offers through its Mobile Stores. In October of 2021, Maloney stepped down from the board of Just Eat Takeaway, an Amsterdam-based conglomerate that bought Grubhub, in June 2021, with a net worth of $150 million. Together we are better and we must honor and share the sense of powerlessness and grief that afflicts us today. Top Podcasts In Business The Ramsey Show Ramsey Network Planet Money NPR Jocko Podcast Jocko DEFCOR Network How I Built This with Guy Raz Guy Raz | Wondery REAL AF with Andy Frisella Andy Frisella #100to0 The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. In the last 5 years at Grubhub Inc, Matthew M Maloney has sold an estimated value of $60.22M worth. I would have been loath to say it before we merged, but the companies were similar--we were solving the same problems but in different geographies. As of 1 May 2021 he still owns at least 25,110 units of Just Eat Takeaway.com N.V stock. GrubHub Inc (GRUB) Bio: Husband, Net Worth, Married, Family, Education (High School / College / University), The University of Chicago Booth Scholl of Business / University of Chicago / Michigan State University, Social Media (Twitter, Instagram, Facebook). He served on the board of directors of Merge Healthcare Incorporated, a provider of enterprise imaging software solutions, from August 2012 until Merge Healthcare was acquired by IBM in October 2015. Maloney's departure leaves Just Eat . Two years ago, The Post exclusively broke the news about Grubhub erroneously charging restaurants fees of as much as $11 a pop for telephone calls that never resulted in a food order and resulted in City Council hearings and legislation making the practice illegal. The revenue generated by Grubhub has grown consistently since its public launch, despite its market share decline in 2019. Published Nov 11, 2016. Interim CFO Cal R Hoagland Mr. Maloney led Grubhub Holdings through five rounds of investment funding, the acquisition of DotMenu, the Merger and our initial public offering in April 2014 (the IPO). $1 billionGross food sales via GrubHub in 2013, The Daily Digest for Entrepreneurs and Business Leaders. He guided it through a series of funding rounds and acquisitions, including a merger with New York-based Seamless, before taking the company public in 2014. Top 50 Business People in 2014. sale Winsight is a leading B2B information services company focused on the food and beverage industry, providing insight and market intelligence to business leaders in every channel consumers buy food and beverage convenience stores, grocery retailing, restaurants and noncommercial foodservice through media, events, data products, advisory services, and trade shows. The current estimated net worth of Grubhub Inc's CEO, Matthew M Maloney, is estimated to be about $106.29M . Financial Analysis - In 2017, the total revenue for Grubhub was $683 million, cost of revenue of $325.7 million, and a gross profit of $357.3 million. Grubhub founder Matt Maloney is leaving the food delivery giant just four months after it was acquired by a European conglomerate. 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