Tapingo, a US-based, student-focused food ordering platform backed by mobile chipmaker Qualcomm, agreed to an acquisition by food delivery service Grubhub sized at approximately $150m on Tuesday.
The transaction is expected to close in the fourth quarter of 2018, once customary closing conditions have been met. Grubhub will integrate Tapingo’s service into its own offering.
Tapingo has developed an app that allows university students to pre-order and pickup food from local outlets. The app integrates with meal plans and point-of-sale systems on campus, and is currently available at more than 150 institutions across the US.
The company had previously raised $22m in a series C round led by Qualcomm Ventures, the corporate venturing arm of Qualcomm, in 2015.
Kinzon Capital, the venture capital firm formed by conglomerate Fosun International, also took part in the series C round, alongside DCM Ventures, Khosla Ventures and Carmel Ventures.
Khosla Ventures also led a $10.5m series B round for Tapingo in 2014 that included Carmel, the latter having already injected $3.5m in series A capital in 2012.
Daniel Almog, co-founder and CEO of Tapingo, said: “Joining Grubhub is an important step forward for Tapingo. Grubhub is the industry leader in food delivery, allowing us to provide even greater value to our campus partners and student diners with access to Grubhub’s technology and delivery expertise.
“By joining forces with Grubhub’s network of over 85,000 restaurant partners that offer online delivery and pickup, we will continue to serve our loyal diners long after they graduate from college, which has always been our aspiration.”
