Eat24 Successfully Secures ZERO Dollars in Funding
Who needs Venture Capitalists when you have 'Hutzpah'?!
SAN FRANCISCO, Oct. 4, 2012 /PRNewswire/ -- Eat24.com, the premier web and mobile food delivery and takeout platform, announced today that they have secured $0 in funding. In the four years since its launch, co-founder Nadav and his hard working team have been able to grow Eat24 to the West Coast leader in online food ordering, with over 150 employees and a network of more than 20,000 interactive restaurant menus in over 850 cities nationwide. Eat24 is an online "make food happen" enterprise that sees more than 1 million unique visitors every month and will generate over $150 million in sales by the end of the year. These figures have seen exponential growth since the site's inception in 2008. All without taking a single dime in Venture Capital.
"We've gotten to where we are with hard work, smart marketing techniques and giant balls. We have an innovative business plan that has reinvented what it means to be a startup in Silicon Valley," says Nadav. "We go against the grain, against the corporate BS that is typically seen with startups with millions of VC funding. Our plan is unconventional creative thinking that redefines the market boundaries. It hasn't always been easy, but we've done it our way and have succeeded."
Eat24 lovingly describes their headquarters in San Francisco as 'industrial chic'. "We'd much rather invest in our customers than our offices," Nadav explains. "Instead of ping pong tables, Friday manicures, and a private chef for dogs, I can hire reinforcements for our kick-ass customer support and development team to join us on our quest for mealtime perfection. We will gladly sacrifice a conference room on the 20th floor facing the Golden Gate Bridge to have complete control of what we do and ensure our customer's experience is nothing less than top notch."
Co-founders Nadav and Haim built Eat24 from the ground up funded by nothing but hutzpah and comfortable shoes. They went door-to-door signing up local restaurants using a small studio apartment as their home base. Eat24 launched in 2008 when the economy was at a low point, and wallets were closed. Now Venture Capitalists are eager to put their money into such a successful business.
"I've had plenty of meetings with people who want to invest in Eat24," says Nadav. "It's fun and a challenge to say No, but if anyone feels compelled to pull up in front of our office in a flatbed truck full of cash, they should feel free to do so. We love what we do - but we're not insane."
Eat24, the premier destination for fast and easy online food ordering, brings users access to over one million dishes from over 20,000 local restaurants in 850 cities nationwide. Through the company's free service on Eat24.com, customers can search for local restaurants by cuisine, dish or proximity to home, read user reviews, receive exclusive discounts and complete their order in one streamlined process from start to finish. Founded in 2008, Eat24 is a privately held company headquartered in the San Francisco Bay area. To learn more about Eat24, please visit www.Eat24.com, facebook.com/eat24 and twitter.com/eat24.
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