Grubhub and Cities Across the U.S. Launch Economic Relief of up to USD 100 Million for Partners Impacted by COVID-19

Published on: 16 Mar, 2020

Grubhub (NYSE: GRUB)
announced the suspension of up to USD 100 Million in commission payments from restaurants impacted nationwide by the COVID-19 (coronavirus).  Grubhub will provide cash flow relief to independent restaurants that qualify as they drive majority of the company’s orders. 

Grubhub is a leading online and mobile food-ordering and delivery marketplace with the largest and most comprehensive network of restaurant partners, as well as more than 22 million active diners.

Matt Maloney, Grubhub Founder and CEO said: “Independent restaurants are the lifeblood of our cities and feed our communities. They have been amazing long-term partners for us, and we wanted to help them in their time of need. Our business is their business — so this was an easy decision for us to make.”

Grubhub created a fund that enables proceeds from its Donate the Change program to go toward charitable organization that support drivers and restaurants impacted by the COVID-19 health crisis.

“The City of Chicago is deeply concerned about the risk COVID-19 is placing on the health of our residents and communities, as well as the impact it’s having on our working families and neighborhood economies and restaurants,” said Chicago Mayor Lori E. Lightfoot. “That is why we applaud corporate leaders like Grubhub who are stepping up with practical measures to support small businesses and their employees. Now more than ever, we must work together to ensure hardworking Chicagoans receive the support they need to thrive while also staying safe, secure, and healthy.”

“Banding together during hard times, putting people over profit, and supporting our local businesses is a model we should all follow, and I thank Grubhub for leading the way,” said New York City Mayor Bill de Blasio.

“Restaurants are a pillar of the San Francisco small business economy and so important to the culture of this city,” said Joaquin Torres, Director of San Francisco’s Office of Economic and Workforce Development. “We are committed to doing everything in our power to support them in this time of crisis, but if we want to come through this public health emergency intact, we’ll need more private sector partners to follow Grubhub’s lead, do the right thing and invest locally to mitigate this crisis.”

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Bryan Shin

Email: Bryan@financialinsiders.com

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