goPuff, a grocery delivery startup with operations in more than 500 US cities with headquarters in Philadelphia, Pennsylvania, is reportedly looking to acquire a similar company UK-based company, Fancy Delivery.
Through this acquisition, goPuff will automatically expand its market to the four cities that Fancy has reached today, namely Leeds, Liverpool, Manchester and Newcastle.
In these cities, Fancy offers a quite bold business concept, which is to serve the delivery of food, drinks, liquor, medicines, baby needs, and so on in just 30 minutes.
goPuff’s desire to acquire Fancy was reported by a source quoted by TechCrunch, Monday (15/2). As well as wanting to acquire Fancy, goPuff is also eyeing EduMe, a global workforce success platform based in the UK.
It did not say how much the acquisition would cost, but the source said that they are currently completing the required requirements. When the terms of the acquisition are completed, the announcement of the agreement will be made immediately.
If that happens, the acquisition will not be long after goPuff’s acquisition of BevMo!, the leading alcoholic beverage specialty retailer on the West Coast, California, worth US$350 million in November 2020.
goPuff was only founded by Yakir Gola and Rafael Ilishayev, two Drexel University students, in 2013, but as of October 2020, the valuation has reached US$3.9 billion.
Such a large valuation was driven by the large investment he received of US$1.2 billion through six funding rounds. Investors who support goPuff include Anthos Capital, SoftBank Vision Fund, Accel, and D1 Capital Partners.