Order food delivery with GrubHub to earn free Bitcoin: here are the details – GrubHub (GRUB)

[ad_1]

A food delivery company is offering a new incentive to try to gain market share in the highly competitive market: free Bitcoin.

What Happened: Bitcoin (CRYPTO: BTC) Rewards Company Lolli announced a partnership with food delivery company Grubhub, a unit of Just Eat Takeaway.com. NV – ADR (NASDAQ: GRUB), Wednesday.

Customers who use Lolli and Grubhub can earn $ 5 in Bitcoin on their first order and $ 1 in Bitcoin for each additional order.

Bitcoin will be tracked on Lolli’s browser extension or app, which must be downloaded before placing orders.

Customers must achieve $ 15 in Bitcoin rewards before they can transfer their Bitcoin to their Lolli.com wallet or their own virtual wallet.

“Lolli’s mission is to make Bitcoin more accessible to everyone and in order to do that, we need to make Bitcoin a part of everyday life. Delivering food is a ritual for many and the Bitcoin rewards make Bitcoin part of that ritual, ”said Lolli CEO and co-founder Alex Adelman.

Lolli offers Bitcoin rewards to over 1,000 major retailers including Kroger Co (NYSE: KR), Microsoft Corporation (NASDAQ: MSFT), Priceline, Macy’s Inc (NYSE: M), Booking Holdings Inc (NASDAQ: BKNG) and Sephora , owned by LVMH Moët Hennessy Louis Vuitton (OTC: LVMUY).

Over 400,000 buyers have signed up for Lolli since its launch in 2018.

Lolli signed a deal with Kroger last year to reward shoppers with 1.5% back in Bitcoin on grocery orders for pickup or delivery.

Investors in Lolli include Ashton Kutcher, Ipsy’s co-founder and beauty entrepreneur Michelle Phan and a unit of the Peter Thiel Founders Fund. Reddit co-founder Alexis Ohanian is an investor in the company through his venture capital firm Seven Seven Six.

Related Link: If You Invested $ 1,000 In Bitcoin On Jan 1, 2021, Here’s How Much You Would Have Now

Why it matters: Grubhub has partnered with more than 300,000 restaurants and offers food delivery to more than 4,000 US cities.

The company consistently ranks well below the leaders in the food delivery space for market share.

DoorDash Inc (NYSE: DASH) led the way with a 57% market share in October, according to a Second Measure study. Uber Eats, a unit of Uber Technologies Inc. (NYSE: UBER) finished second with a 24% market share. Postmates, which is owned by Uber Eats, had a 3% market share in October.

Grubhub occupies a distant third place with a 15% market share in October.

The battle for food delivery market share has led to aggressive pricing of promotions and exclusive deals with restaurants in an attempt to retain users.

Research shows that there are fewer loyal customers to a food delivery provider as they shop based on restaurants, price, and availability.

Offering Bitcoin as a reward could be a way for GrubHub to attract more users who use food delivery and earn shares. Giving cryptocurrency-based rewards is an increasingly popular option.

Recently, the Burger King unit of Restaurant Brands International Inc (NYSE: QSR) offered cryptocurrency rewards to clients through a partnership with Robinhood Markets Inc (NASDAQ: HOOD).

GRUB Price Action: GRUB shares closed at $ 12.35 on Wednesday, down 0.88% and hitting a new 52-week low. Shares are down more than 80% since the start of the year.

Photo: André François McKenzie via Unsplash

[ad_2]