What is GoPuff and How Did it Become a $15 Billion Business?
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Gopuff, a leading food & consumer goods delivery service, was started in 2013 by two Drexel University students, Yakir Gola and Rafael Ilishayev.
Located in Philadelphia, Pennsylvania, the business began as an on-demand hookah delivery business but has now grown to provide food and supplies.
This consumer products delivery business operates on an on-demand basis. The firm mostly fulfills deliveries for food, drinks, alcohol, home essentials, and other necessities you typically find in a convenience shop.
GoPuff's business model is distinct from those of other delivery firms. The firm operates its warehouses, where it stockpiles items and fills orders on demand.
Rafael, born in Russia, began his career at his father’s sandwich restaurant and afterward at a banquet hall that his father had purchased. Yakir, the son of an Israeli immigrant, used to work in his father’s cash-for-gold store.
The genesis of GoPuff began in 2011, when its creators, Rafael Ilishayev and Yakir Gola, met in a Business 101 class at Drexel University in Philadelphia.
In less than a decade, the company has evolved into a multibillion-dollar corporation serving over 1000 locations. In 2021, GoPuff generated $1 billion in revenue, three times what it did in 2020.
GoPuff has raised $3.4 billion over nine rounds, with its latest $1 billion funding round in July 2021. The company is valued at a massive $15 billion.
Read the full story on blog.wishpond.com ➜
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