Finances and Deals: Page 2

  • Sharebite
    Image attribution tooltip
    Courtesy of Sharebite

    Food benefits platform Sharebite raises $39M

    The technology, which enables restaurants to deliver food to corporate clients, will use the funding to grow and launch new products.

    By Alicia Kelso • June 29, 2022
  • 800 Degree Pizza's Thin & Crispy Pepperoni Pizza, provided by REEF Technology
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    Courtesy of REEF Technology
    Reef Technology's expansion

    Reef pursues ownership stake in pizza concept

    Reef's EVP for Kitchens and Brands, Kenneth Rourke, will join the board of 800 Degrees Go, a joint venture between 800 Degrees and robotics company Piestro.

    By April 29, 2022
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    andresr via Getty Images

    Gov. Pritzker signs budget deal with $50M for Illinois restaurants

    Restaurants and taverns with 50 employees or fewer can snag grants of up to $50,000 if they haven't received RRF grants or other state or local financial aid.

    By April 26, 2022
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    Cindy Ord via Getty Images

    Activist investor: JET's Grubhub purchase is a 'capital allocation mistake'

    Cat Rock Capital Management, which owns 6.9% of shares in Just Eat Takeaway, urged investors to vote against JET's CFO and supervisory board.  

    By April 25, 2022
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    Sponsored by DAVO by Avalara

    Most asked questions about sales tax

    Sales tax can be a hassle. These are the questions we get asked the most about managing sales tax.

    April 25, 2022
  • Chipotle in Savannah, Georgia
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    Thai Phi Le/Restaurant Dive

    Chipotle launches $50M venture fund to access emerging tech

    Cultivate Next, which will be funded solely by the chain, will focus on Series B stage companies that can help accelerate Chipotle's strategic priorities.

    By April 19, 2022
  • Main Event Entertainment location
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    Permission granted by Main Event

    Dave & Buster's to buy Main Event for $835M

    Following the close of the all-cash transaction, which is expected to occur later this year, Main Event CEO Chris Morris will become Dave & Buster's CEO.

    By April 6, 2022
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    Joe Raedle via Getty Images
    Starbucks unionization efforts

    Howard Schultz suspends Starbucks share repurchase program

    The move will let the chain invest more profit into employees and stores "to create long-term value for all stakeholders," Schultz wrote on Monday. 

    By Alicia Kelso • April 5, 2022
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    Matias Delacroix via Getty Images

    Surging inflation compelling small businesses to raise prices

    Inflation is broad based — flaring in every sector — and will probably persist longer than initially expected, the U.S. Chamber of Commerce said.

    By Jim Tyson • April 1, 2022
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    Joe Raedle via Getty Images

    Papa John's refranchises 90 units in Texas with Sun Holdings

    The move will give Sun Holdings, which will open 100 new Papa John's units in Texas by 2029, the scale to support new restaurant development.

    By March 31, 2022
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    Octavio Jones via Getty Images

    Study: Two-thirds of restaurants hurt by rising gas prices

    Restaurant owners say steep prices at the pump have affected their delivery sales, according to Alignable research. 

    By Alicia Kelso • March 30, 2022
  • Red Lobster taps Bloomin' Brands alum as CFO

    David Schmidt succeeds Craig Pommels, who left Red Lobster to become CFO of Cracker Barrel in December.

    By March 14, 2022
  • Sweetgreen opened a location at World Trade Center Tower 3 in NYC in October 2021.
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    Permission granted by Sweetgreen

    Sweetgreen's digital sales made up 67% of Q4 2021 revenue

    By capturing the majority of its online orders through proprietary platforms, the salad chain has been able to collect valuable consumer data that informs digital-exclusive offerings. 

    By March 7, 2022
  • Starship Technologies
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    Courtesy of Starship Technologies

    Delivery bot firm Starship has raised $100M since January

    The company's funding includes $57 million from the European Investment Bank and $42 million from a Series B funding round led by NordicNinja and Taavet+Sten.

    By March 2, 2022
  • Toast Inc. point of sale device
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    Courtesy of Toast Inc.

    Toast CFO leans into tactical investments for market share

    “As CFO it’s my role to make sure I take the strategy and paint the picture with numbers,” Elena Gomez said.  

    By Maura Webber Sadovi • Feb. 28, 2022
  • Wendy's
    Image attribution tooltip
    Thai Phi Le/Restaurant Dive

    Wendy's creates development fund, new store formats to grow franchise diversity

    The burger chain's "Own Your Opportunity" recruitment initiative is designed to increase restaurant ownership among women and people of color.

    By Feb. 28, 2022
  • DoorDash and 2,000 grocery partners will waive delivery fees
    Image attribution tooltip
    Permission granted by DoorDash

    DoorDash's 2021 revenue, losses buoyed by new verticals

    The leading delivery aggregator's revenue rose 69% over year one of the pandemic, but its losses grew by $7 million.

    By Feb. 17, 2022
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    Cindy Ord via Getty Images

    Grubhub expands convenience channel Grubhub Goods nationwide

    The service will offer delivery from more than 3,000 locations across the country and follows a successful pilot with 7-Eleven. 

    By Alicia Kelso • Feb. 15, 2022
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    Permission granted by DoorDash

    DoorDash will give cash advances to small businesses

    DoorDash Capital allows restaurants to repay the cash advances based on a percentage of their DoorDash sales and without interest.

    By Alicia Kelso • Feb. 9, 2022
  • Chipotle plant-based chorizo
    Image attribution tooltip
    Courtesy of Chipotle

    Chipotle's menu prices are about 10% higher than last year, and still climbing

    The menu price hikes contributed to strong quarterly sales, with same-store sales rising 15% over Q4 2020 and total sales hitting $2 billion, exceeding analyst predictions.

    By Feb. 9, 2022
  • A Kitchen United worker carrying off-premise orders as part of the company's Grab Go Eat concept.
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    Permission granted by Hannah Allred, Kitchen United

    Kitchen United teams with Simon Property Group to bring off-premise eating to malls

    The ghost kitchen's "Grab Go Eat" concept lets diners order from mall restaurants for on-premise pickup, delivery to tables or stores and off-premise takeaway, CEO Michael Montagano said.

    By Feb. 3, 2022
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    Maja Hitij via Getty Images

    Lunchbox's $50M funding includes investment from DoorDash execs

    This participation in the funding round reflects blurring lines between digital ordering and delivery fulfillment, though Lunchbox CEO Nabeel Alamgir has been critical of third-party delivery firms' high commission fees. 

    By Alicia Kelso • Feb. 2, 2022
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    The image by Kzoo Cowboy is licensed under CC BY 2.0

    Tropical Smoothie is eyeing an IPO, Bloomberg reports

    After a year of solid same-store sales growth, the chain may go public, following several successful restaurant IPOs in 2021.

    By Jan. 20, 2022
  • Wine glass
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    The image by Pixabay is licensed under CC BY 1.0

    Cooper's Hawk planning 2022 IPO, Bloomberg reports

    The restaurant is targeting a valuation of $1 billion if it goes public, more than double the valuation of Krispy Kreme, Sweetgreen and Portillo's.  

    By Alicia Kelso • Jan. 13, 2022
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    Joe Raedle via Getty Images

    Papa Johns will open over 1,350 stores in China by 2040

    The pizza chain's largest franchisee development deal to date will grow its global unit count by 25% and continue its aggressive expansion push.

    By Jan. 7, 2022