
EnvoyNow
On-demand food delivery startup capitalizing on the neglected college market.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor investor investor investor | €0.0 | round |
investor investor | €0.0 | round | |
N/A | €0.0 | round | |
N/A | Acquisition | ||
Total Funding | 000k |
USD | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 |
% growth | - | - | (20 %) | - |
EBITDA | 0000 | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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EnvoyNow began in April 2014 as a solution to a problem experienced by its founders, University of Southern California (USC) roommates Anthony Zhang and Chad Massura. Frustrated by the inconvenience of getting late-night food deliveries on a campus that closes its gates at 9 p.m., they started a delivery service themselves. Their initial approach involved posting flyers in their dorm, which quickly led to a high volume of text message orders. This early traction highlighted a clear market need and prompted them to formalize the business.
The founding team expanded to include fellow students Nick Wang, Gabe Quintela, and later, Parker Seagren as Chief Technology Officer. The founders' personal experiences as students were central to the company's strategy; they understood the campus environment and the specific needs of their peers in a way that external delivery services could not. This insider knowledge allowed them to offer deliveries to hyper-specific locations, such as a particular seat in a library or a dorm room, a key differentiator from competitors. The company's growth was further spurred after receiving investments from Mark Cuban and Mark Burnett, as well as a $100,000 Thiel Fellowship, which led CEO Anthony Zhang to leave USC to focus on the venture full-time. At its peak, EnvoyNow operated on 22 college campuses.
EnvoyNow functioned as an on-demand food delivery platform specifically for college campuses. It operated on a peer-to-peer model where students, known as "Envoys," would deliver food from local restaurants to other students on campus. The business generated revenue by taking a percentage from partner restaurants for the increased business directed to them. For customers, the service charged a flat delivery fee of $2.99 per order, with the delivery personnel, or "Envoys," keeping 100% of this fee and any tips. The company was eventually acqui-hired.
Keywords: food delivery, college campus delivery, peer-to-peer delivery, on-demand service, student entrepreneurship, restaurant delivery, hyperlocal delivery, last-mile delivery, EnvoyNow, Anthony Zhang, Mark Cuban, Thiel Fellowship, USC startup, student-focused business, mobile ordering, food tech, gig economy, campus logistics, startup acquisition, venture capital