Last month, Louisiana-based food delivery startup Waitr announced it planned to acquire Bite Squad, a company with a similar business model of connecting partner restaurants to drivers and diners.
The acquisition is now complete with the purchase price of roughly $323 million. With the existing Bite Squad markets, Waitr is now in 86 markets, more than 500 cities, and across 22 states.
“We believe this transaction is a major growth step for us and positions us well to be a leading restaurant platform for online ordering and food delivery across underserved markets throughout the United States,” said Waitr founder and CEO Chris Meaux.
A representative from Waitr said the company would be updating its 2019 financial outlook to reflect the acquisition.
Waitr also previously announced $42.1 million in financing from Luxor Capital Group that contributed to the acquisition of Bite Squad.