Aramark raises $50M for SeamlessWeb mobile takeout
by Joseph N. DiStefano, Posted: June 8, 2011
(Revised) Aramark Corp., the Philadelphia-based cafeteria operator, says it's selling a minority interest in SeamlessWeb, a mobile phone-based restaurant takeout and delivery ordering service, to Spectrum Equity Investors, a $5 billion-asset Boston-based investment firm, for $50 million.
SeamlessWeb says meal volume will top $400 million this year. The service is free to diners via iPhone, Blackberry, Google Android, and mobile Web services, and paid for by restaurants, like a credit card fee. The service at first focused on investment banks, law firms and other late-night Manhattan clients, said chief executive Jonathan Zabusky, a Penn grad and Gladwyne resident.
Aramark boss Joseph Neubauer said SeamlessWeb operations would be separated from Aramark's so the company could boost selling direct to consumers at home. Zabusky said the separation will make it easier to finance SeamlessWeb's expansion, from its current base in New York, Center City - University City, and other big U.S. cities and London, through acquisitions and organic growth. Statement here.
Aramark acquired the business in 2006 for a price it still won't name. The company employs around 200 in New York and Salt Lake City, plus field officers in the US and London.
Posted: June 8, 2011 - 10:25 AM
Joseph N. DiStefano
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