WTRH - Waitr Continues With Dilutive Acquisitions While Searching For A New Business Model
- Waitr owns two food delivery platforms, Waitr and Bite Squad.
- The company had to write down $192 million in goodwill from the investment in Bite Squad in 2019 after its stock price plummeted.
- Although the company had shown some recovery in 2020, its 2021 sales and profitability figures are down again.
- The company reached an agreement with Waiter.com and will have to change its name to ASAP, as well as its ticker.
- As part of its re-branding strategy, Waitr/ASAP entered the merchant services industry with four very dilutive acquisitions.
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Waitr Continues With Dilutive Acquisitions While Searching For A New Business Model