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Started By
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Will Waitr survive?
Posted on 10/15/19 at 10:46 am
Posted on 10/15/19 at 10:46 am
My brother sent me a snapshot of their stock price since the company went public. From $15 back then, down to about $1.00 today.
We all know the mistakes they've made with rolling out higher fees, etc but they seem to have all of the good restaurants on their platform in Baton Rouge (compared to the other apps).
Still crazy to see how far the stock has fallen. I wonder if they will be able to hang on, or just get acquired by Uber Eats or something.
We all know the mistakes they've made with rolling out higher fees, etc but they seem to have all of the good restaurants on their platform in Baton Rouge (compared to the other apps).
Still crazy to see how far the stock has fallen. I wonder if they will be able to hang on, or just get acquired by Uber Eats or something.
14
Posted on 10/15/19 at 10:50 am to remax_joe
The market is to saturated and Waitr is small potatoes. I doubt they survive.
Posted on 10/15/19 at 10:51 am to remax_joe
They got too greedy.
Posted on 10/15/19 at 11:16 am to remax_joe
They really screwed up when they decided to mess with their client base. Raised fees trying to make a profit and killed their golden goose and competitive advantage (lower restaurant fee) over DoorDash and UberEats.
Posted on 10/15/19 at 11:18 am to KamaCausey_LSU
quote:
Raised fees trying to make a profit
So they should have continued operating at a loss?
Posted on 10/15/19 at 11:26 am to KamaCausey_LSU
quote:
They really screwed up when they bought a Minnesota based company.
Posted on 10/15/19 at 11:30 am to remax_joe
The fact Tilman Fertitta has ~$1B in the company; I don't think they fail. I think they are either acquired by a larger fish or Tilman takes them back private.
ETA: Either way, I've put some money in them since the stock has fallen.
ETA: Either way, I've put some money in them since the stock has fallen.
This post was edited on 10/15/19 at 1:13 pm
Posted on 10/15/19 at 11:41 am to remax_joe
waitr will never be able to replace that feeling of rage you get when you drive all the way home and realize they didnt put cheese on your cheesburger
Posted on 10/15/19 at 12:04 pm to remax_joe
Why did they go public in the first place?
Posted on 10/15/19 at 1:25 pm to remax_joe
they lost me a long time ago with God awful customer service. Twice I had over an hour added to my delivery time, once gave up and picked up the food myself. The only customer service option you really have is a chat that's about as quick as sending a business an e-mail. Not shocked at all that they are tanking
Posted on 10/15/19 at 1:34 pm to remax_joe
They have the highest delivery fees of the delivery apps, and unless things have changed they don’t adjust based on distance or offer no fee promotions. Then on top of that they ask you to pre-tip your driver. It’s just not cost effective to use them when UberEats and Postmates offer cheaper, better alternatives.
Posted on 10/15/19 at 2:18 pm to remax_joe
I don't get why they would piss off their talent (the restaurants) with the fees hike. Since all they do is produce a functioning app and don't produce anything outside of that, you would think keeping the talent happy would be a priority
Posted on 10/15/19 at 2:19 pm to remax_joe
The real reason I hope they survive is that I use their website all the time to peruse menus with pictures of the food. It is very convenient!
Posted on 10/15/19 at 2:29 pm to Darla Hood
That is the only reason I use them as well. I do have a bunch of shares with $1.55 basis. Hoping for a buyout.
Posted on 10/15/19 at 2:33 pm to Janky
quote:
That is the only reason I use them as well. I do have a bunch of shares with $1.55 basis. Hoping for a buyout.
Yea, as long as it stays this low, I'll continue to buy when I get a chance thinking it will buy or go private
Posted on 10/15/19 at 2:34 pm to barbapapa
quote:
I don't get why they would piss off their talent (the restaurants) with the fees hike. Since all they do is produce a functioning app and don't produce anything outside of that, you would think keeping the talent happy would be a priority
They have to pay the drivers which is where all of these delivery apps are losing money. The flat delivery fee doesn't cover enough to pay drivers. Waitr thought the best idea would be to pass that cost on to the restaurants.
Posted on 10/15/19 at 2:44 pm to Darla Hood
quote:
The real reason I hope they survive is that I use their website all the time to peruse menus with pictures of the food. It is very convenient!
I get a notification for free delivery once or twice a week. Might start using it for lunch once in a while. At this point the restaurants have had plenty of time to cut ties if they decided to.
Posted on 10/15/19 at 4:04 pm to remax_joe
a lot of places in Baton Rouge took themselves off the app so I've stopped using it
Posted on 10/15/19 at 4:07 pm to remax_joe
Legit worst customer service in the history of Earth
Posted on 10/16/19 at 11:01 am to remax_joe
I don't use Waitr that much anymore unless the entire office is ordering. I checked a couple weeks ago because I was busy and didn't want to leave the office for lunch. A wrap would've cost me nearly $20 with a bag of chips and no drink. I just went pick it up and spent $9.
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