Once the darling of the Louisiana tech startup sector, the third-party delivery platform ASAP (formerly Waitr) filed for Chapter 7 in March, a dramatic fall for a company that largely introduced third-party restaurant delivery to scores of midsized American cities, including Baton Rouge.
As Business Report writes in its latest issue, Waitr seemed unstoppable for a time after being founded in 2013 by Lake Charles entrepreneur and former restaurant operator Chris Meaux. Sales soared as consumers enthusiastically opted in to what was then a novel idea—seamless, app-based delivery from local restaurants, with just a few swipes and clicks.
Just three years after becoming operational in 2018, the company was acquired for $308 million and went public, differentiating itself from national competitors with a brand promise based on helping restaurant partners in middle markets grow new business.
But success was short-lived. The company’s rapid rise led to a move in 2019 that would sow seeds of trouble. Waitr’s $321 million acquisition of Minnesota-based Bite Squad doubled its size, but forced two vastly different companies together at a critical juncture for decision-making.
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