Bob Iger Invests in Fast-Delivery Company Gopuff
Bob Iger, Disney’s former CEO and chairman, is now a part-owner of Gopuff, a company that provides quick-delivery services in 1,200 cities worldwide that counts Selena Gomez among its investors.
The amount of Iger’s investment in Gopuff wasn’t disclosed. He will become an adviser to the company’s co-founders and co-CEOs Yakir Gola and Rafael Ilishayev and the rest of the executive team to “help deepen Gopuff’s consumer engagement and growth globally,” according to a statement.
Gopuff, founded in 2013, says it has raised $4 billion to date — and has a $15 billion valuation. Other investors include Blackstone’s Horizon, Guggenheim Investments, Hedosophia, MSD Partners, Adage Capital, Fidelity, Softbank, Atreides Management, and Eldridge.
“It’s been exciting to spend time with Gopuff leadership learning about the company, the founders, and their aspirations,” Iger said in a statement. “I am excited to advise, mentor, and support the executive team as they continue building a company uniquely designed for how consumers are changing and growing. I believe consumer commerce will be very different in the near future and Gopuff is building the platform to power it.”
Iger stepped down as Disney’s CEO in 2020, succeeded by Bob Chapek, and his tenure as as executive chairman ended at the end of last year.
Along with his investment in Gopuff, Iger recently joined as an investor in collectibles company Funko, as part of a group led by Chernin Group that acquired at $263 million stake.
“Bob Iger is one of the most important and visionary business leaders of this generation. He defined consumer engagement, product innovation, and organizational excellence,” Gopuff’s Gola said. “Gopuff is building a platform designed for the future of the consumer industry and nobody understands consumers better than Bob Iger.”
Gopuff has more than 70% share of the U.S. instant-commerce category, according to research firm YipitData, competing in a crowded field against the likes of Instacart, Doordash and Amazon Fresh. Earlier this year, Gopuff laid off 450 people, or about 3% of its workforce, the Wall Street Journal reported.
Gopuff recently appointed Maria Renz as SVP of North America and in the past year has expanded into the U.K. and France, and launched Gopuff Kitchens, Gopuff Ad Solutions, and its first private-label brand, Basically.
Source: Read Full Article