- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Waitr Sold for $308 mil
Posted on 5/16/18 at 10:47 pm
Posted on 5/16/18 at 10:47 pm
Under the terms of the definitive agreement, Landcadia would acquire Waitr for $308 million in total consideration. Landcadia will pay a minimum of $50 million in cash to the equity holders of Waitr at the closing of the proposed transaction (including holders of vested options for Waitr shares) with the remainder paid in the combined company’s common stock. The net cash proceeds from this transaction in excess of those distributed to Waitr’s equity holders are expected to be used to fund Waitr’s continued growth in current and new markets and allow Waitr to pursue opportunistic acquisitions to grow its U.S. footprint.
Upon the closing of the proposed transaction, Tilman J. Fertitta, will serve as a director of the combined company, and in such capacity will be in a position to oversee the combined company’s growth and brand building. Chris Meaux, founder and Chief Executive Officer of Waitr, and the rest of the Waitr executive team will continue in their respective roles in the combined company. Mr. Meaux will also be appointed Chairman of the combined company’s board of directors.
Upon the closing of the proposed transaction, Tilman J. Fertitta, will serve as a director of the combined company, and in such capacity will be in a position to oversee the combined company’s growth and brand building. Chris Meaux, founder and Chief Executive Officer of Waitr, and the rest of the Waitr executive team will continue in their respective roles in the combined company. Mr. Meaux will also be appointed Chairman of the combined company’s board of directors.
Posted on 5/17/18 at 1:09 am to lsuwins3
Nice! Get a few dozen million in your pocket today and another few dozen millions with the IPO all while keeping your job.
Posted on 5/17/18 at 6:22 am to lsuwins3
LSU grad and a good ole Louisiana baw
Posted on 5/17/18 at 8:13 am to tigerpawl
Maybe we will see Breesus endorsing Waitr soon
Posted on 5/17/18 at 1:13 pm to lsuwins3
Exciting news for lots of Louisiana investors.
Posted on 5/18/18 at 8:40 pm to lsuwins3
A lot of LC baws that bought in are getting paid!
Posted on 5/19/18 at 8:10 am to southernelite
My buddy graduated from Barbe. His Mom and Dad are still in LC. He got approached early looking for an investment. He texted me after doing the math. His four-five figure investment would have been worth $770,000.
Luckily he’s doing keto to lose weight. Otherwise he told me he’d be drinking heavily...
Luckily he’s doing keto to lose weight. Otherwise he told me he’d be drinking heavily...
Posted on 5/19/18 at 9:18 am to GFunk
What percentage did Brees own? 25%?
Posted on 5/19/18 at 12:05 pm to GFunk
Yeah, but Venture Cap flameout is pretty high. For every one that works out, plenty don’t. If you do hit on one though, you look like a genius and roll in the dough.
ETA: from the restaurant perspective, these services aren’t much more than an advertising service, they eat a large chunk of the margin, plus a lot of times if their driver fricks up, the restaurant eats part of that too.
ETA: from the restaurant perspective, these services aren’t much more than an advertising service, they eat a large chunk of the margin, plus a lot of times if their driver fricks up, the restaurant eats part of that too.
This post was edited on 5/19/18 at 12:09 pm
Posted on 5/20/18 at 8:03 am to southernelite
Our experience with waitr is very positive. Their cut is 15% as opposed to uber eats in which is 28%. These orders are coming from people who normally would not have ordered from us. We aren't losing any business and gaining a sizeable share of business. As far as the driver messing up, waitr will refund when it is their mistake
Posted on 5/20/18 at 9:03 am to jmarto1
I’ve never dealt with Waitr as our market is Dallas. We use Grubhub, UberEats, and DoorDash.
Some of our restaurants have decent experiences, some don’t. That 28-31% fee is pretty steep.
I thought waitr fees were going up?
Some of our restaurants have decent experiences, some don’t. That 28-31% fee is pretty steep.
I thought waitr fees were going up?
Posted on 5/20/18 at 10:21 am to lsuwins3
Wasn’t Waitr started at the McNeese seed center in Lake Charles by McNeese students?
Posted on 5/20/18 at 10:31 am to southernelite
I didn't negotiate our rate but I would hope we locked it in. Those fees from other delivery groups are outrageous.
Posted on 5/20/18 at 1:25 pm to stout
quote:
No. It was started by this guy LINK
Looks like one of the co-founders was a McNeese student.
Posted on 5/21/18 at 12:17 am to lsuwins3
quote:I graduated from Notre Dame High School with him and have been friends since then. Great guy and very glad for him.
Chris Meaux, founder and Chief Executive Officer of Waitr
Posted on 10/2/18 at 2:55 pm to bhtigerfan
Looks like LCA Holdings (Fertittas Company) stock has been on a good run the last couple of days.
Posted on 10/2/18 at 2:56 pm to Statestreet
frick i was told about it last week when it was $10.
Popular
Back to top
Follow TigerDroppings for LSU Football News