SAN FRANCISCO, Oct. 15, 2020 /PRNewswire/ -- Goldman Sachs (NYSE:GS) is recognizing GrubMarket's Founder, Chairman and CEO, Mike Xu as one of the 100 Most Intriguing Entrepreneurs of 2020 at its Builders + Innovators Summit.
Goldman Sachs selected Mike Xu as one of 100 entrepreneurs from multiple industries to be honored at the two-day event. Mike, Founder, Chairman and CEO of GrubMarket was an established software engineering executive, who built and led engineering teams at several software companies in Silicon Valley before founding GrubMarket. Mike has a passion for building products, technology, and optimization of large-scale execution. GrubMarket was a first mover to re-architect the highly intermediated B2B food supply chain by establishing a producer-centric platform with clear price advantage for market participants. Today, GrubMarket's technology supports several hundred million dollars of sales annually.
"I am humbled and honored to receive this recognition from Goldman Sachs." said Mike Xu, CEO of GrubMarket, "and I would like to share this award with our entire team of builders and innovators and all of our supporters for making GrubMarket possible. Our success is a direct result of driving our intended mission, which is to benefit businesses, consumers and producers by offering an ecosystem for higher pay, lower prices and less pollution. Our highly driven and entrepreneurial team will continue to work diligently to create value for our customers and producers by bringing digital transformation to the underserved."
"True innovation is built from a diversity of perspectives and experiences," said David M. Solomon, Chief Executive Officer of Goldman Sachs. "Our Builders + Innovators Summit brings together a collective of impressive future leaders who are striving to drive meaningful change. For over 150 years, Goldman Sachs has supported entrepreneurs as they launch and grow their businesses. That's why we are pleased to recognize Mike Xu as one of the most intriguing entrepreneurs of 2020."
In addition to honoring 100 entrepreneurs, the summit, which this year will take place virtually, consists of general sessions and clinics led by seasoned entrepreneurs, academics and business leaders as well as resident scholars.
Founded in 2014, GrubMarket is a San Francisco-based food technology startup with a track record of high growth and profitability, operating in the space of food ecommerce (both B2B & B2C) and providing related technologies (vertical SaaS) to solve inefficiencies in the American food supply chain. Currently, GrubMarket operates in California, Washington, Texas, Michigan, Massachusetts and New York, with plans to expand to other parts of the country.