The elephant in the room is how much longer this damn pandemic will last and who will be left standing when it finally ends. But that’s not the only aspect of our local economy with an uncertain fate.
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Waitr
Published:
Waitr’s rocky year gets rockier
The gist: Waitr Inc.’s stock price hit new all-time lows last week, sinking below $1 per share. Meanwhile, paperwork has been filed for a class action lawsuit on behalf of investors accusing the app-based food delivery company and key personnel of materially misrepresenting the state of its business. Waitr’s rough first half of the year […]
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The gist: Waitr started the year on a high, buying up equal-sized competitor Bite Squad and hitting $14 a share in March. Since then, the nascent public company hit the rocks, facing lawsuits, potential restaurant strikes and a stock that’s fallen below $7.
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The gist: Since going public, Waitr has faced legal attacks from disgruntled drivers. This week, citing efficiencies, the food delivery app company terminated several dozen employees in a move that took its workforce by surprise.
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The gist: Bobby’s Country Cookin’ in Little Rock, Ark., filed suit in April, claiming the food delivery platform boosted its contracted take rate without notice in a bid to puff up revenues ahead of its 2018 IPO. The suit was filed in Lake Charles, Waitr’s home base.
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Published:
Waitr hit with second federal wage suit
The gist: This is the second collective action suit against Waitr filed by delivery drivers alleging the Lafayette-based food delivery platform doesn’t pay minimum wage.
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Two Waitr drivers say the fast-growing food delivery app company paid them and potentially thousands of other drivers less than minimum wage in a collective action suit.
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The gist: Preliminary 2018 financials show incredible growth both in Waitr’s existing operations and those associated with Bite Squad, a midwestern competitor the food delivery company bought last year.
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With big news at Waitr bookending our first year publishing, beginning with its blockbuster sale to a Texas billionaire and ending with CEO Chris Meaux ringing the Nasdaq bell, 2018 has been a year of extremes.
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Published:
Waitr gobbles Bite Squad and doubles in size
The gist: Waitr announced this morning that it acquired Bite Squad, an online ordering and on-demand food delivery platform for restaurants, for $321.3 million.
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We’re witnessing a changing of the guard, and Waitr’s splash on the NYSE is the latest indicator in the trend.
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The company will have $200 million on its balance sheet after it goes public, converting Lancadia Holdings to Waitr Holdings.
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