Former Disney CEO Bob Iger invests in $15 billion grocery delivery tech startup Gopuff
Former Disney CEO Bob Iger is now a part-owner of Gopuff, a grocery delivery tech startup founded by two former Drexel University students Rafael Ilishayev and Yakir Gola. While the total amount of the investment was not disclosed, Gopuff said Wednesday it’s bringing on former Disney CEO Bob Iger as an investor and advisor.
We covered the $15 billion-dollar unicorn startup back in March after it inked a partnership deal with U.K.-based grocery chain Morrisons to deliver items to people’s doors in a matter of minutes. The partnership marks Gopuff’s first tie-up with a rival retailer in Europe.
Alongside his investment in Gopuff, Iger recently joined as an investor in collectibles startup Funko, as part of a group led by Chernin Group that acquired a $263 million stake. Two years ago, Iger stepped down as Disney’s CEO. He was succeeded by Bob Chapek.
Commenting on the investment, Gopuff Co-founder and CEO Gola said, “Bob Iger is one of the most important and visionary business leaders of this generation. He defined consumer engagement, product innovation, and organizational excellence. Gopuff is building a platform designed for the future of the consumer industry and nobody understands consumers better than Bob Iger.”
Founded in 2013 by two college students Rafael Ilishayev and Yakir Gola while at Drexel University, the Pennsylvania-based GoPuff provides quick-delivery services in 1,200 cities worldwide that counts Selena Gomez among its investors.
Gopuff also owns, operates, and stocks its own micro-fulfillment centers with full-time employees, whereas other companies connect customers, drivers, and retailers on a platform. Since its inception nine years ago, Gopuff has raised more than $3.5 billion and it was last valued at $15 billion in 2021.
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.
According to research firm YipitData, Gopuff currently has more than 70% share of the U.S. instant-commerce category. With millions of dollars in the war chest, Gopuff is now leading the crowded field against the likes of Instacart, Doordash, and Amazon Fresh.
We also covered Gopuff back in January when the SoftBank-backed delivery tech startup expanded into the private label business with the launch of its own line of private label products. Gopuff kicked off with bottled water under the “Basically” brand, followed by other household items like cleaning products, batteries, paper products, and food storage.