“Anything, anytime, anywhere. Postmate it”

Founded: 2011 in California, USA

Category: Supply chain & logistics

Primary office: San Francisco, California (USA)

Core technical team: San Francisco, California (USA)

Status: Private

Employees: 1000+

Amount raised: $903 million (14 rounds – September 2019)

OVERVIEW

  • Provides an AI-driven online platform and delivery service that enables on-demand delivery of food, groceries and retail products and services

 

PERFORMANCE METRICS

  • Valuation – $2.4 billion (2019)
  • Revenue – $550 million (2019)

 

ACHIEVEMENTS

  • 500,000 in-app searches daily
  • Operates in 4,200 USA cities
  • Access to 600,000 merchants
  • Serve – World’s first autonomous, “socially aware”, navigation-friendly delivery robot (2018)
  • 95% on-time rate

Sells

  • Postmate Fleet – on demand delivery as-a-service
  • Postmates for Business – Integratable API that enables seamless delivery service for businesses
  • Urban logistics platform connects customers with local couriers who deliver nearly anything in minutes

Channels

  • Online and Mobile Apps (iOS & Android)
  • API integrations
  • Affiliate marketing
  • Launched new TV and streaming ad campaign during the 2020 Oscars telecast

Competencies

  • Founder-led Management team
  • Big data Analytics & Machine learning
  • Integration with popular technology platforms – e.g., Square, Shopify and Script
  • Seamless API/POS integration with Merchants’ websites or storefronts
  • Empower communities to shop locally and empower business to grow using Postmates platform

Resources

Assets

  • 3-sided platform – customers, delivery persons (postmates), and merchants
  • Partners with over 75,000 merchants
  • Large network of delivery workforce – “Gig workers”.
  • Over 500,000 delivery fleet size
  • Top clientele – Walmart, Apple, 7-Eleven, Walgreens, etc.

Processes

  • User-friendly omni-channel platform and dashboard for quick insight
  • Instant activation and customizable delivery schedule
  • Dedicated Customer service & technical support for various user segments – Customer, Fleet, Merchant
  • Real-time tracking system and messaging
  • Free sign-up, zero fees or time commitments, easy cash-out for delivery workforce/contractors
  • API to allow businesses to offer delivery through the platform
  • Uses their cities, towns, communities as warehouses – does not build warehouses and funnel groups into such – helps brick and mortar stores to compete against large retailers (in contradistinction with Amazon’s fulfillment centers approach)
  • Open 24 hours a day/365 days a year
  • Postmates works on a 4-step process: clients browse stores and products; payment is made (to postmates) and delivery fee added; notification of order sent to gig delivery person; order can be tracked, received and tips provided
  • Revenues generated from delivery fee, convenience fee (9% of order) and a merchant programme

Priorities

  • Launch Initial Public Offering (IPO)
  • Increase Cross-border operations

Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely

  1. Develop and sell products that address a problem, job to be done or a need that is shared by a large and growing number of individuals and organizations in various regions to increase sales.
  2. Increase value by arranging and directing a community comprised of groups that are external and internal to the company and connect everything needed to scale
  3. Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
  4. Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace
  5. Continuously improve the user interfaces and applications that directly influence the entirety of the customer experience including personalized content, quality messaging, and the delivery and returns process to increase sales

References

Carson, B. 2019. Prepping for an IPO, Postmates raises another $225million. [online]. Forbes. https://www.forbes.com/sites/bizcarson/2019/09/19/postmates-raises-225-million-pre-ipo/#2c2714162baf

Constine, J. 2018. Postmates unveils Serve, a friendlier autonomous delivery robot. [online]. TechCrunch. https://techcrunch.com/2018/12/13/postmates-robot-serve/

Crunchbase. 2019. Postmates. https://www.crunchbase.com/organization/postmates#section-funding-rounds

Owler. 2019. Postmates. https://www.owler.com/company/postmates

Postmates website. https://postmates.com/

Wilhelm, A. 2019. Postmates raises $225million more at $2.4B valuation despite private IPO filing. [online]. Crunchbase News. https://news.crunchbase.com/news/postmates-raises-225m-more-at-2-4b-valuation-despite-private-ipo-filing/


Contributors

  • Yinka Olanrewaju-Olawepo