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A comment on America is stuck at home, but food-delivery companies still struggle to profit. Parent comment

Re:America is stuck at home, but food-delivery companies sti... by Melting_Harps on Wednesday May 13, 2020 @06:39PM (#23172664)
> Toast recently laid off half their workforce...obviously restaurants doing poorly in the covid-economy.

Ouch. It says they're affiliated with Grubhub, so hopefully that's their support line in all of this.

This is interesting and suggests they're more a fee generation business model than a traditional fintech POS supplier and management/tech support one:

> As a result, fintech companies that help restaurants work better and depend on foot traffic are seeing less transaction volume.

[ Parent | on HN ]
Re:America is stuck at home, but food-delivery companies sti... by gbear605 on Wednesday May 13, 2020 @07:02PM (#23172890)
Their model is primarily taking a share of credit card transaction fees plus a monthly fee for physical devices. While they’re doing poorly right now without restaurants open, they have a large war chest (raised their series F in February).
[ Parent | on HN ]