Delivery platform Grubhub to give $30 million of funding to restaurants
Reuters
Published Apr 02, 2020 03:19PM ET
NEW YORK (Reuters) - The third-party delivery provider Grubhub Inc (N:GRUB) on Thursday will notify more than 100,000 restaurants using its platform that they each will get $250 of funding - at a total cost to Grubhub of up to $30 million - to help offset losses from the coronavirus crisis.
The restaurants - only small, independent outlets or regional chain franchises - will get a benefit of up to $250 as part of Grubhub's dinner promotion to help generate sales thru April.
The company had already deferred commission fees, which restaurants pay for advertising on the platform, as delivery firms try to help restaurants offset steep losses from dining rooms they have been forced to close to comply with government mandates.
(This story corrects headline, first and second paragraph to show the funding is a rolling promotional benefit, not a credit at the end of the month.)
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Written By: Reuters
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