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Chowbus

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Chowbus
IndustryOnline food ordering
POS Management
Founded2016; 9 years ago (2016)
Founders
  • Suyu Zhang
  • Linxin Wen
Headquarters
Chicago, Illinois
,
United States
Websitewww.chowbus.com

Chowbus was an online food ordering, payment and delivery platform based in Chicago that was founded in 2016 by Suyu Zhang and Linxin Wen. The company links Asian restaurants to its customers in North America and Australia.[1] At the time of its Series A round it served 20 cities with some menus in Mandarin and Cantonese.[2] The cuisines include Chinese, Japanese, Korean, Vietnamese and Indian.[3]

On January 25, 2024 it was announced that Fantuan, an Asian-food delivery service based out of Vancouver, acquired Chowbus food delivery business line.[4][5]

History

Chowbus was conceived from the experiences of co-founder Linxin Wen, who, upon moving to the U.S., realized the difficulty of finding genuine Asian restaurants on existing delivery platforms and the high costs associated with their delivery services.[6] Inspired by this challenge, Wen, along with Suyu Zhang, launched Chowbus in 2016 to support these restaurants by providing a dedicated platform.[7]

Starting with a focus on delivery, Chowbus soon extended its reach to over 20 cities across North America, Canada, and Australia, featuring menus in multiple languages including Mandarin and Cantonese. The platform offered a selection of Asian cuisines such as Chinese, Japanese, Korean, Vietnamese, and Indian.[8] By 2022, alongside its successful delivery model, Chowbus expanded into the SaaS market, introducing restaurant management software and POS services. This shift aimed to support especially those restaurant owners new to the country, helping them with technological and marketing needs.[9]

Business Model and Strategic Shifts

On January 25, 2024, Chowbus announced a significant change in its business model when Fantuan, another Asian-food delivery service based in Vancouver, acquired its food delivery operations.[10] Post-acquisition, Chowbus has shifted its focus entirely towards the development and enhancement of its SaaS and POS solutions for restaurants.[11]

Funding

Throughout its development, Chowbus has successfully raised a total of $108.3 million across seven funding rounds.[12] The company's funding journey began with a $4 million seed round led by Greycroft Partners and FJ Labs.[13] Notably, in July 2020, Chowbus secured a $33 million Series A funding round, followed by an additional $30 million from existing investors in October of the same year.[14]

Most recently, on August 3, 2023, Chowbus raised $40 million in a round that included investors such as Prysm Capital, FJ LAbs, and Celtic House Asia Partners.[15]

Recognition

In recognition of its rapid growth and impact, Chowbus was listed in the Marketplace 100 by Andreessen Horowitz in February 2020.[16] Ranking No. 78, Chowbus was highlighted as one of the largest and fastest-growing consumer-facing marketplace startups in the U.S., and it stood out as one of only 13 companies from the Midwest featured in this prestigious list, including seven from Chicago.[17]

Notes

  1. ^ Dallke, Jim (October 14, 2020). "Asian food delivery startup Chowbus raises another $30M". Chicago Inno. American City Business Journals. Retrieved November 13, 2020.
  2. ^ Shieber, Jonathan (July 22, 2020). "Investors drop off $33 million for Chowbus, a delivery service for 'mom and pop' Asian restaurants". Tech Crunch. Retrieved November 13, 2020.
  3. ^ Baker, Suzanne (July 20, 2018). "Chowbus service delivers dishes from Chicago's Chinatown to Naperville residents". Chicago Tribune. Retrieved November 13, 2020.
  4. ^ Ellichipuram, Umesh (2024-01-25). "Fantuan acquires Chowbus food delivery business". Verdict Food Service. Retrieved 2024-03-25.
  5. ^ Hall, Christine (2024-01-24). "Fantuan acquires Chowbus' food delivery business". TechCrunch. Retrieved 2024-03-25.
  6. ^ Clark, Kate (2019-01-24). "Asian food delivery startup Chowbus raises $4M". TechCrunch. Retrieved 2024-05-06.
  7. ^ fodnews (2021-09-20). "Linxin Wen | CEO, Chowbus". Food On Demand. Retrieved 2024-05-06.
  8. ^ Hall, Christine (2024-01-24). "Fantuan acquires Chowbus' food delivery business". TechCrunch. Retrieved 2024-05-06.
  9. ^ "Fantuan Acquires Chowbus Delivery Business Line, Paving the Way for a Dynamic Strategic Alliance in North American Food Scene". Yahoo Finance. 2024-01-24. Retrieved 2024-05-06.
  10. ^ Hall, Christine (2024-01-24). "Fantuan acquires Chowbus' food delivery business". TechCrunch. Retrieved 2024-05-06.
  11. ^ Ellichipuram, Umesh (2024-01-25). "Fantuan acquires Chowbus food delivery business". Verdict Food Service. Retrieved 2024-05-06.
  12. ^ "Crunchbase".
  13. ^ Clark, Kate (2019-01-24). "Asian food delivery startup Chowbus raises $4M". TechCrunch. Retrieved 2024-05-06.
  14. ^ www.bizjournals.com https://www.bizjournals.com/chicago/inno/stories/fundings/2020/10/14/chowbus-raises-another-30m.html. Retrieved 2024-05-06. {{cite web}}: Missing or empty |title= (help)
  15. ^ "Crunchbase".
  16. ^ "Marketplace 100 2020 Edition". Andreessen Horowitz. Retrieved 2024-05-06.
  17. ^ Engel, Liz. "Chowbus, The Delivery App For 'Mom And Pop' Asian Restaurants, Just Raised $33 Million. So What's Next?". Forbes. Retrieved 2024-05-06.
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