Lunchbox acquires Spread to create no-commission food delivery platform
Lunchbox, an online ordering engine for restaurants, has acquired Spread, an online marketplace, for an undisclosed price.
Spread is engaged in connecting restaurants with diners by providing delivery and take-out services.
Lunchbox said that the acquisition will help it continue to enable restaurants in creating digital products for bolstering the guest-restaurant relationship and strengthening their bottom lines with food ordering and delivery that is commission-free.
The online ordering engine, which presently caters to multi-unit restaurants, said that the acquisition enables it now to service restaurants of all sizes.
Lunchbox said that now smaller restaurants can get access to key customer data which can enable them to bring in increased sales.
Nabeel Alamgir — CEO and co-founder of Lunchbox said: “Together with Spread, we’re creating a no-commission marketplace for the restaurant industry which is an absolute game-changer as they can keep profits in-house.
“Restaurants will no longer have to give up 15-30% of their online order costs in order to compete with other restaurants and keep their doors open. Now they can process orders online completely free, and create more meaningful relationships with customers as they now have access to diner data.”
Launched in 2020 in New York City, the Spread marketplace has more than 1,500 restaurants on the platform and over $3 million orders.
Andy Wang — co-founder and CEO of Spread said: “We created Spread to answer the question: What would it look like if restaurants banded together and built their own marketplace.
“With this acquisition, we’re able to bring our platform to millions of diners who want access to a more ethical delivery platform that helps restaurants stay profitable. I’m thrilled to be joining the Lunchbox team to spearhead this new platform and help restaurants see greater returns.”