fbpx
Connect with us

Business

Investor Ari Stiegler discussed the rise of Food Delivery App Yummy

Ari Stiegler Yummy

When the coronavirus pandemic shut down in-person dining across the world, people of all ages turned to mobile-based food delivery apps for their favorite meals. 

In Venezuela, such an option did not exist until the launch of a new food delivery and ridesharing super app called Yummy, which has quickly become the South American country’s go-to food delivery service. 

“Yummy is set to transform app-based food delivery in Venezuela,” said Stiegler. “I am impressed with their growth and their most recent round of financing will only bolster their operations across Latin America.”

Yummy’s funding backers also include Y Combinator, Tinder co-founder Justin Mateen and the Hustle Fund. 

Yummy began as the first food delivery app in Venezuela in 2020, launched by CEO Vicente Zavarce, a Venezuelan entrepreneur passionate about direct-to-consumer brands. Zavarce, who previously was the director of user acquisitions at Postmates, founded the company while in lockdown in San Francisco.

Yummy is now available in five of the country’s major cities and has expanded into other verticals, including groceries, alcohol, pharmaceuticals, shopping and ridesharing, Stiegler said. The company provides delivery in under 15 minutes and has scaled to more than 600,000 orders in its first year.

Yummy has reached $1 million in monthly gross merchandise volume and grew 38-percent in revenue month over month, according to TechCrunch.

“The company is an all-encompassing marketplace of services and offerings,” said Stiegler, whose venture capital fund is focused on corporate leaders in winner-take-all markets. “The Yummy app, which can be downloaded for free, will continue to expand and grow in Latin America and beyond.”

Stiegler praised the app for developing a fee structure that is among the lowest in the market and does not significantly affect merchants’ profitably. He is also encouraged by its robust user-base and its resilience in the face of social upheaval facing the Latin American country.

While Venezuela has for years been rocked by political and economic turmoil, the continued dollarization of Venezuela reduces the risks associated with a previously unstable domestic currency, Stiegler said. 

There are plans to expand the user base – which currently includes about 200,000 registered users– to Peru, Chile, Ecuador and Bolivia. 

Stiegler expressed confidence the company will continue to grow in Venezuela and achieve successful last-mile logistics. 

“A big factor in the company’s growth is improved consumer technological innovation in Venezuela,” said Stiegler. “I am excited to see what other growth Yummy will experience in the coming years as the general public continues to turn to mobile food delivery apps and ridesharing services in their daily lives. Companies like Postmates and Grubhub have proven successful in the United States, and Yummy is on track to be similarly transformative in that growing market throughout Latin America.”

Advertisement defi

Join Disrupt Magazine

defi
Become A Disrupt Contributor

Most Disruptive

Social Media11 hours ago

Khaby Lame Becomes The Most Followed TikToker in The World

Khabane Lame was a machine operator but now trending and just became a star from an account he created on...

Tiger_Shroff Tiger_Shroff
Entertainment1 day ago

Meet Bollywood Star Tiger Shroff

Tiger Shroff has a long history in the film industry, starting before his birth. With prominent parents in the industry...

Amanda Bernardo Amanda Bernardo
Women Who Disrupt2 days ago

Meet “The Pizza Princess” Amanda Bernardo

If you live in or near New Haven, Connecticut, you may be familiar with the hidden gem that is “New...

Shirley_Setia Shirley_Setia
Women Who Disrupt2 days ago

Meet Upcoming Bollywood Star Shirley Setia

Shirley Setia is the little Kiwi that could. Coming out of seemingly nowhere with a hit cover on YouTube, she...

two people shaking hands two people shaking hands
Diversity in Tech4 days ago

How the Best Leaders Create and Build Trust in a Modern Workplace

Being a leader in any setting can be challenging but within professional settings, you really are juggling a lot at...

Jay Majors Jay Majors
Executive Voice2 weeks ago

How Jay Majors Is Disrupting The Barber Industry

When we see a successful figure in any industry, learning their story, where they came from, and how they’ve struggled...

Daymond JOhn Daymond JOhn
Executive Voice2 weeks ago

Daymond John Can’t be Stopped

Perhaps you know Daymond John from the wildly popular show Shark Tank. Or maybe you’re familiar with his revolutionary clothing...

Finance2 weeks ago

Ryan Carroll Establishes Wealth Assistants to Serve as a Launching Pad for Hopefuls Worldwide

Countless highly accomplished personalities and established authorities have proven that the pursuit of one’s passion can be a way to...

Business3 weeks ago

Social Media Star, TheBlondeJon’s Journey from Homelessness to Multimillionaire Status

A strong self-belief in oneself is a powerful enabler no matter the obstacles or challenges one faces on a journey....

Entrepreneurship3 weeks ago

Skylar Domine on His Bold Moves in the Entrepreneurial Realm and Overarching Mission to Help People and Communities

Many of today’s powerhouses managed to gain a solid foothold in the world of business and stand out in an...

Trending

Copyright © 2020 Disrupt ™ Magazine - Disrupt is a Minority Owned Privately Held Company

Disrupt ™ is the voice of Latino entrepreneurs around the world. We are part of a global movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities around the world. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.