Louisiana food delivery service Waitr posted $69 million in revenue and a $35 million net loss for 2018, as the startup reported full earnings for the first time since going public in November.
The Lake Charles-based firm also tapped several former executives of Bite Squad, which Waitr acquired last month, to new leadership positions. That includes new Chief Financial Officer Jeff Yurecko, who will succeed David Pringle, who is stepping down in March.
Waitr CEO and co-founder Chris Meaux said the firm grew revenue over 200 percent in 2018, and grew gross food sales by 130 percent, to $279 million for the year. The results were preliminary, and the company will release full financial results in March.
A native of New Jersey and graduate of Rensselaer Polytechnic Institute, Will LaBar doesn’t plan on moving away any time soon.
Losses are relatively common for early-stage startups, and Meaux has previously said the company is currently concerned mostly with growth. Eventually, the company aims to become profitable as it scales.
The company, which has operations in Lafayette, ended the year servicing 264 cities, 8,500 restaurants and nearly 1 million active diners, Meaux said.
Waitr acquired Bite Squad, a Minneapolis-based rival, on Jan. 17 for $323 million. The company did $83 million in revenue during 2018. Waitr also tapped Bite Squad executives as chief legal officer, chief of corporate development and head of growth.
Louisiana-based food delivery service Waitr has completed a $323 million acquisition of Minneapolis rival Bite Squad, putting the company in m…
In the fourth quarter, Waitr had revenue of $21 million and a net loss of $17 million.
Acadiana Business Today: Taxable sales in Lafayette Parish in 2018 second-highest on record; Evangeline Thruway team requests $525K for area projects
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Louisiana food delivery service Waitr posted $69 million in revenue and a $35 million net loss for 2018, as the startup reported full earnings…
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