Food Delivery Wonder and Marc Lore

By | May 19, 2024
food delivery

Food Delivery

Super article on NY Times on Food Delivery. Marc Lore, the entrepreneur behind Diapers.com and Jet.com, would like to disrupt food delivery. But he really wants to build a brand that actually lasts.

Summary

  • Marc Lore’s Ventures: Marc Lore, known for founding Diapers.com and Jet.com, has invested in various projects since leaving Walmart.com in 2021, including a nuclear fusion start-up and plans for a new city.
  • Wonder Startup: Lore’s latest venture, Wonder, aims to revolutionize food delivery with a focus on quality and speed, starting with cooking vans in New Jersey suburbs and expanding to physical locations.
  • Growth and Investment: After a $350 million capital raise, Lore took over as CEO of Wonder, with personal investments over $200 million and plans for an IPO targeting a $30 billion valuation12.
  • Operational Strategy: Wonder’s approach involves electric equipment for cooking, centralized food prep, and a goal to limit delivery zones to within 10 minutes for efficiency and quality control.

What we liked

  • Abandoned the meals on wheels (not enough parking it turned out)
  • Went to kitchens
  • 10 locations, bought Blue Apron
  • Nestle $100M
  • Deal with Walmart to go into four stores
  • Aiming for $30B valuation
  • Chipotle took 30 years
  • locations where customers can order, pick up, and, at least in theory, dine in at some tables.
  • No gas — all electric  (using 3 pieces of equipment for all)
  • “Lightly trained labor”
  • delivery orders make up around 10 percent of all restaurant transactions, according to the food service consultancy Technomic; a 2021 poll conducted by Gallup showed that three-quarters of respondents ordered delivery at least once a month, with 14 percent ordering more than once a week.
  • The Amazon story on diapers is great
  • Fast fine category — $7 burgers and $11 burritos, but also a $26 pork chop, $34 steaks, and other items in the “fast fine” category.
Author: Staff Writer

Craig Keefner is the editor for Kiosk Industry (Self Service Kiosk Machine). Opinions and point of view here on kioskindustry is not necessarily the stance of the Kiosk Association or kma.global -- With over 40 years in the industry and experience in large and small kiosk solutions, Craig is widely considered to be an expert in the field. Major kiosk projects for him include Verizon Bill Pay kiosk and hundreds of others.