Grubhub said to explore sale in boon to Uber, DoorDash and others

Shares of Chicago-based food delivery service Grubhub are sharply higher in regular trading today after The Wall Street Journal reported that the company has hired external advisers to explore its “strategic” options, inclusive of a possible sale. Investors, heartened by the news, bid its equity up 17% as of the time of writing, valuing the firm at around $57 per share, or $5.2 billion. The news comes during a difficult time for the company. Grubhub’s value fell sharply last October after it reported its third-quarter earnings. At the time, the company cited new and rising competition as growth-related difficulties, as well as noting that, in its view, “the supply innovations in online takeout have been played out and annual growth is slowing and returning to a more normal longer-term state.” It expected “low double digit” growth in the future. Investors dumped its shares after reading the growth warnings, sending Grubhub equity from the high $50s per share to the mid-$30s. Since then, the company’s share price has recovered; with today’s news, Grubhub is effectively back to where it was before the Earnings Report from Hell. All this may sound a bit boring, frankly, to regular T...

OKRs, or Objectives and Key Results, are a popular planning method in Silicon Valley. Like most

OKRs, or Objectives and Key Results, are a popular planning method in Silicon Valley. Like most of those methods that make you fill in some form once every quarter, I’m pretty sure employees find them rather annoying and a waste of their time. Ally wants to change that and make the process more useful. The company today announced that it has raised an $8 million Series A round led by Accel Partners, with participation from Vulcan Capital, Founders Co-op and Lee Fixel. The company, which launched in 2018, previously raised a $3 million seed round. Ally founder and CEO Vetri Vellore tells me that he learned his management lessons and the value of OKR at his last startup, Chronus. After years of managing large teams at enterprises like Microsoft, he found himself challenged to manage a small team at a startup. “I went and looked for new models of running a business execution. And OKRs were one of those things I stumbled upon. And it worked phenomenally well for us,” Vellore said. That’s where the idea of Ally was born, which Vellore pursued after selling his last startup. Most companies that adopt this methodology, though, tend to work with spreadsheets and Google Docs. Over time, ...