Gopuff to Buy Siemens-Backed RideOS in $100 Million-Plus Deal
(Bloomberg) -- Delivery startup Gopuff is buying software firm RideOS, which is backed by Sequoia Capital and Siemens AG, according to a statement reviewed by Bloomberg News.
Gopuff is paying $115 million in cash and stock, according to a person familiar with the matter, who asked not to be identified because the deal terms are private. RideOS was valued at $180 million in its latest funding round, the person added. Siemens’ venture capital arm Next47 is one of its backers.
RideOS is one of the best mapping, dispatching and technology firms, said Sharad Sundaresan, Gopuff’s senior vice president of product and growth, in the statement.
Software for logistics and delivery has become in-demand as companies try to make their fleets more energy efficient. Ford Motor Co. on Thursday acquired a software startup that monitors and manage vans, trucks and buses.
Justin Ho, co-founder and CEO of RideOS said in a statement that Gopuff’s mission fits with the company’s “vision to build software that efficiently moves people and things throughout the world.”
Gopuff delivers thousands of products from ice cream to cleaning products for a flat fee. It’s backed by firms including SoftBank Group Corp.’s Vision Fund, D1 Capital Partners, Baillie Gifford, Fidelity and Accel. It was last valued at $8.9 billion.
Founded in 2013 by college students in Philadelphia who wanted to make it easier to get convenience items delivered, Gopuff now operates in Chicago, Boston, Denver, Dallas and other cities throughout the U.S.
Last year, it bought liquor retailer BevMo! for about $350 million, branching into brick-and-mortar retail.
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