Delivery tech startup Gopuff launches its line of private label products, starting with bottled water under the “Basically” brand
2021 was a busy year for the delivery tech startup Gopuff. The SoftBank-backed Gopuff kicked off 2021 with a whopping $1.5 billion in funding at an $8.9 billion valuation. By the middle of the year, the company made three big acquisitions including the acquisition of rideOS for $115 million, Liquor Barn (for an undisclosed sum), and UK-based Dija to expand into Europe.
Now, as Gopuff heads toward its highly anticipated IPO, the Pennsylvania, PA-based startup is taking a note from Amazon playbook. The startup is expanding into the private label business with the announcement this week that it’s launching its own line of private label products. Gopuff’s product lineup will kick off with bottled water under the “Basically” brand, followed by other household items like cleaning products, batteries, paper products and food storage.
In the coming weeks, Gopuff said it plans to also add a line of snacks in the coming weeks. In total, the startup plans to launch four private label brands and more than 100 products this year.
Gopuff’s private label expansion is the startup’s latest effort to stand apart from other convenience delivery companies and tap into the $159 billion private label product market. Since its inception nine years ago, Gopuff has raised more than $3.5 billion and it was last valued at $15 billion in 2021.
Founded in 2013 by two college students Rafael Ilishayev and Yakir Gola while at Drexel University, the Pennsylvania, PA-based GoPuff owns, operates, and stocks its own micro-fulfillment centers with full-time employees, whereas other companies connect customers, drivers, and retailers on a platform.
GoPuff delivers daily essentials and groceries in minutes across over 500 U.S. cities. The startup currently operates more than 250 micro-fulfillment centers servicing over 650 U.S. cities, in addition to the recently acquired BevMo! locations. According to Gopuff, 30% of Americans are within one mile and a half of a Gopuff fulfillment center.