Grubhub Buys Israeli Campus Food-delivery Platform Tapingo for $150m

TechNation: Indian online retailer Flipkart buys Israeli-U.S. startup Upstream Commerce ■ Israeli-U.S. startup WalkMe raises $40 million at a reported $1 billion valuation

FILE PHOTO: GrubHub CEO Matt Maloney (C) applauds after ringing the opening bell before the company's IPO on the floor of the New York Stock Exchange, April 4, 2014.
\ Lucas Jackson/ REUTERS

Grubhub buys Israeli campus food-delivery platform Tapingo for $150 million

Grubhub, a U.S. online and mobile food-ordering and delivery marketplace, said Tuesday it had agreed to acquire Israel’s Tapingo, a platform for ordering food from restaurants on college campuses. Grubhub will pay about $150 million for the Israeli company when the deal is completed, in the fourth quarter. Operating in over 150 campuses, Tapingo processes tens of thousands of order-ahead transactions per day from more than 500,000 customers for on-campus cafes, cashier-less stores and chain restaurants such as Taco Bell and Chipotle. “The combination of Tapingo’s network with Grubhub’s restaurant marketplace and delivery capabilities will bring greater convenience to students and help campus restaurants capitalize on pickup and delivery orders,” said Grubhub, which works with 85,000 restaurant partners in over 1,600 U.S. cities and London. Based in San Francisco with research and development offices in Tel Aviv, Tapingo was founded in 2012 by four Israelis, led by CEO Daniel Almog. It raised $36 million in three rounds, according to data from the Crunchbase technology website. (TheMarker)

Indian online retailer Flipkart buys Israeli-U.S. startup Upstream Commerce

Flipkart, the Indian online retail giant, made its first foray into Israel, saying Tuesday it was buying the Israeli-U.S. analytics startup Upstream Commerce. Flipkart didn’t put a price on the acquisition, but sources close to the deal put it at $50 million. Flipkart, which is locked in an intense battle with Amazon for market share in India, said it was planning to use Upstream Commerce to deliver real-time pricing and product analytics to their sellers. The 20-person Upstream Commerce team will continue to work out of Israel and form one of the company’s global centers for data science research. “With the Upstream acquisition, we will now have tech and talent presence across Asia, U.S. and Israel, some of the key global hubs for innovation,” Said Flipkart CEO Kalyan Krishnamurthy. Formed in 2011, Upstream Commerce raised just $6 million in four funding rounds. Last month, the U.S. retailer Walmart bought 77% of Flipkart, which has 100 million registered users. (Irad Atzmon Schmayer) 

Israeli-U.S. startup WalkMe raises $40 million at a reported $1 billion valuation

WalkMe, a provider of tools that companies plug into their apps to help people use them more efficiently, may be Israel’s newest unicorn — a startup worth more than $1 billion. The Israeli company said last week it had raised $40 million from investors led by Insight Venture Partners and Mangrove Capital Partners. The company declined to put a valuation on the round, which brings its total fundraising since it was formed in 2011 to $207.5 million, but it was reportedly in excess of $1 billion. The proceeds will enable WalkMe to expand and localize its offerings in new markets in Europe and the Asia-Pacific region and for acquisitions, the company said. WalkMe says it has nearly 2,000 customers worldwide, including over 30% of all Fortune 500 companies. It has around 660 employees in seven offices in Israel, the U.S., Europe and the Asia-Pacific region. WalkMe President Rephael Sweary told TheMarker the company is aiming for an initial public offering in 2019. (Irad Atzmon Schmayer and Refaella Goichman)