Goldbelly Revenue, Valuation, Funding & Investors
Goldbelly is valued at $720M as of May 2021, a 3.5x multiple on its last reported $205M revenue.
Last Goldbelly valuation
$720M
Series C · May 2021
Last Goldbelly funding round
$100M
Series C · May 2021
Goldbelly revenue
$205M
Series C · May 2021
Key investors in Goldbelly
Intel Capital
500 Global
Y Combinator
FundersClub
645 Ventures
Global Founders Capital
About Goldbelly
Goldbelly is a New York-based online marketplace shipping gourmet foods from US restaurants nationwide. It connects eateries like Frankie's Pizza and Joe's Kansas City Bar-B-Que with customers for overnight delivery of pizzas, cheesecakes, and regional specialties. Launched in 2013, the platform partners with over 200 iconic producers and handles logistics via UPS Next Day Air. Goldbelly expanded into meal kits and corporate gifting.
Founded
2012
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Revenue
$205M (May 2021)
Valuation
$720M (May 2021)
Goldbelly Valuation
Goldbelly is currently valued at $720M, based on its Series C in May 2021.
The $100M round was led by Spectrum Equity, with participation from Intel Capital.
Goldbelly's valuation has grown 6.4x from $112M at its Series B in October 2018 to $720M in May 2021, across 2 priced rounds.
Goldbelly valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2021 | Series C | $720M | 3.5x |
| Oct 2018 | Series B | $112M | - |
Goldbelly Revenue
Goldbelly's latest recorded revenue is $205M, as of its Series C in May 2021. At a $720M valuation, that implies a 3.5x revenue multiple.
Goldbelly revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2021 | $205M | $720M | 3.5x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Goldbelly Funding History
Goldbelly has raised a total of $133M across 5 funding rounds.
Goldbelly's first fundraising round was a $100K pre-seed round in March 2013. The most recent completed round was a $100M Series C in May 2021.
Goldbelly funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2021 | Series C | Spectrum Equity (lead); Intel Capital | $100M | $720M | Goldbelly is America's first platform for food e-commerce, enabling chefs and restaurants to ship iconic foods nationwide and deliver at-home restaurant experiences. The company connects consumers with regional cuisines and favorite foods regardless of location, turning hyper-local restaurant models into national e-commerce businesses. In 2020, Goldbelly experienced massive growth, adding over one million new customers, achieving more than 300% year-over-year business growth, and expanding to 850 restaurant partners across all 50 U.S. states. On May 17-18, 2021, Goldbelly raised $100 million in a Series C funding round led by Spectrum Equity, with participation from existing investor Intel Capital. This growth equity investment aims to scale the platform's technology and operations, accelerate onboarding of new chef and restaurant partners, and launch content initiatives like the Goldbelly LIVE! interactive cook-along series. The post-money valuation for this round was $719.68 million, with an indicated price per share of $19.87 (though some reports list the raise as $85MM in certain summaries). Spectrum Equity, a firm focused on internet-enabled software and information services, highlighted Goldbelly's innovation in restaurant technology. Intel Capital, Intel's investment arm, continued its support after prior seed, Series A, and Series B investments. Funds will enhance consumer interactions with foods, experiences, and chefs beyond traditional settings. Goldbelly's competitive positioning leverages e-commerce to empower restaurants amid industry shifts, competing in food delivery and tech spaces alongside investors' portfolio companies like Grubhub. The round builds on prior funding totaling around $133 million across seed, Series A, and earlier stages, with motivations centered on team expansion, tech infrastructure, and national scaling. |
| Oct 2018 | Series B | Enlightened Hospitality Investments (lead); 645 Ventures; Intel Capital; 500 Global | $20M | $112M | Goldbelly is an online food marketplace platform founded in 2013 by CEO Joe Ariel that connects iconic regional and local food providers, including signature dishes from renowned restaurants like Milk Bar, Central Grocery, Prince’s Hot Chicken, and Langer’s Deli, to consumers nationwide via e-commerce shipping, with some items delivered frozen, refrigerated, or requiring assembly. By October 2018, the platform featured around 350 restaurant partners, evolving from initially soliciting restaurants to selectively accepting only 2-3% of hundreds of applicants. The company had previously raised $10 million in a March 2017 Series A round led by Global Founders Capital and Intel Capital, reporting a 200% year-over-year customer increase at that time. In October 2018, Goldbelly closed a $20 million Series B funding round led by Enlightened Hospitality Investments, the fund from Danny Meyer's Union Square Hospitality Group, with participation from existing investors 500 Global (then 500 Startups), 645 Ventures, and Intel Capital. The investment aimed to expand technology and operations teams at its new New York City headquarters, enhance market presence, onboard new partners, and scale the business. Danny Meyer joined Goldbelly's advisory board, praising the company's disruption in merging technology with hospitality to fulfill cravings for hometown favorites. One source lists a post-money valuation of $112.32 million for this round. Goldbelly positioned itself as a pioneer in food e-commerce, empowering passionate regional food makers to reach food lovers nationwide. The fund, launched in 2017 with around $200-220 million, targeted hospitality-focused disruptors like Joe Coffee, Salt & Straw, and Resy Network. Subsequent growth included a major expansion during the pandemic, adding over 1 million customers in 2020 with 300% year-over-year business growth, leading to later rounds like a $100 million investment in 2021 led by Spectrum Equity. |
| Mar 2017 | Series A | Global Founders Capital (lead); Intel Capital (lead); Tuesday Capital; FundersClub; 645 Ventures; 500 Global | $10M | - | Goldbelly is a US-based online marketplace that sources specialty regional food products from local artisan producers and sells them nationwide. The company operates a curated platform empowering small food businesses to compete with larger retailers by delivering nostalgic hometown foods to customers across the country. In March 2017, Goldbelly raised a $10 million Series A round co-led by Global Founders Capital and Intel Capital, with participation from existing investors including 500 Startups, 645 Ventures, CrunchFund, and FundersClub. Intel Capital invested through its Diversity Fund, following its prior lead in the company's $3 million seed round in 2013. The funding supported growth in operations and technology teams across New York and San Francisco offices. |
| Sep 2013 | Seed | Intel Capital (lead); Carman Chan; SierraMaya360; Y Combinator; Dave McClure; FundersClub; Tim Draper; Counterpart Advisors; Draper Associates; 500 Global | $3M | - | Goldbelly is a curated online marketplace and delivery service specializing in gourmet American food dishes from local restaurants and purveyors across the US. The company raised a $3 million seed funding round on September 17, 2013, led by Intel Capital, with participation from 500 Startups, Y Combinator, FundersClub, Dave McClure, Tim Draper, and others. The funds supported adding partnerships to its network of restaurants nationwide. Goldbelly's platform enables vendors to reach a national audience, market effectively, and streamline shipping processes. CEO Joe Ariel described the mission as democratizing the gourmet food industry by empowering local food businesses. This seed round followed a $120,000 pre-seed in March 2013 to kickstart the platform and develop initial technology. |
| Mar 2013 | Pre-seed | Y Combinator | $100K | - | - |
Who has invested in Goldbelly?
15 investors have backed Goldbelly across its funding rounds, including Intel Capital, 500 Global, Y Combinator, FundersClub, 645 Ventures and Global Founders Capital.
Lead investors include Spectrum Equity, Enlightened Hospitality Investments, Global Founders Capital and Intel Capital.
Goldbelly Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Santa Clara, CA | 4 | Lead | Sep 2013 | |
| San Francisco, CA | 3 | Participant | Sep 2013 | |
| San Francisco, CA | 2 | Participant | Mar 2013 | |
| San Francisco, CA | 2 | Participant | Sep 2013 | |
| United States | 2 | Participant | Mar 2017 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Carman Chan |  Hong Kong | 1 | Participant | Sep 2013 |
| Los Angeles, CA | 1 | Participant | Sep 2013 | |
| San Francisco, CA | 1 | Participant | Sep 2013 | |
| San Francisco, CA | 1 | Participant | Mar 2017 | |
 Berlin | 1 | Lead | Mar 2017 | |
| New York City, NY | 1 | Lead | Oct 2018 | |
| San Francisco, CA | 1 | Lead | May 2021 | |
| Tim Draper | San Francisco, CA | 1 | Participant | Sep 2013 |
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Start Free TrialAcquisitions by Goldbelly
Goldbelly has acquired 1 company to date.
Last acquisition by Goldbelly was on December 10th 2018. Goldbelly acquired FoodyDirect for undisclosed valuation.
Latest Acquisitions by Goldbelly
| Description | FoodyDirect is a Ho Chi Minh City-based online food delivery marketplace in Vietnam. It connects users with local restaurants to deliver meals directly to homes and offices. Operating through its website and app, the service emphasizes fresh, delicious cuisine from popular eateries. FoodyDirect supports a wide range of dishes, facilitating quick ordering and reliable doorstep service across major urban areas. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 10 Dec 2018 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Goldbelly acquisitions and their M&A valuation multiples. Start Free Trial | |
Goldbelly Competitors
Goldbelly competitors include listed companies like WeBuyCars and Hemnet, and private ones like Dunzo, Captain Fresh, InterviewBit and Tongcheng Shenghuo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Bangalore | Private | $24M | - | $775M | 32.3x | |
| Bangalore | Private | - | - | $521M | - | |
| Bangalore | Private | - | - | $710M | - | |
 Suzhou | Private | - | - | $710M | - | |
 South Africa | Publicly listed | $1.6B | $90M | $734M | 0.5x | |
 Sweden | Publicly listed | $156M | $78M | $685M | 5.2x |
Goldbelly Public Comps
Goldbelly is still privately-owned, but its public comps include Suedwestdeutsche, WeBuyCars, Ixigo, Once Upon a Farm, Agthia Group, Hemnet, Westrock Coffee, Carozzi, Ülker and First Milling.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $396M | $74M | 1.8x | - | 9.5x | - | |||
| $1.6B | $90M | 0.5x | 0.5x | 9.7x | 8.6x | |||
| $128M | $8M | 5.0x | 4.5x | 83.7x | 57.8x | |||
| $241M | ($14M) | 2.5x | 2.0x | (44.5x) | 177.1x | |||
| $1.3B | $126M | 0.8x | 0.8x | 8.8x | 7.2x | |||
| $156M | $78M | 4.8x | 5.2x | 9.6x | 11.1x | |||
| $1.2B | $14M | 1.3x | 1.3x | 107.9x | 17.7x | |||
| $1.7B | $217M | 0.9x | - | 6.8x | - | |||
This data is available for Pro users. Sign up to see all Goldbelly competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Goldbelly
| When was Goldbelly founded? | Goldbelly was founded in 2012. |
| Where is Goldbelly headquartered? | Goldbelly is headquartered in New York City, NY, United States. |
| Is Goldbelly publicly listed? | No, Goldbelly is a private, VC-backed company. |
| What is Goldbelly's valuation? | Goldbelly was last valued at $720M in its Series C in May 2021. |
| How much funding has Goldbelly raised? | Goldbelly has raised $133M across 5 funding rounds. |
| What was Goldbelly's last funding round? | Goldbelly's last funding round was a $100M Series C in May 2021, led by Spectrum Equity. |
| Who are Goldbelly's investors? | Goldbelly's investors include Intel Capital, 500 Global, Y Combinator, FundersClub, 645 Ventures, Carman Chan, SierraMaya360, Dave McClure, Tuesday Capital, Global Founders Capital and 5 others. |
| What is Goldbelly's revenue? | Goldbelly's latest recorded revenue is $205M (May 2021). |
| What is Goldbelly's revenue multiple? | Goldbelly's latest valuation implies a 3.5x revenue multiple ($720M valuation on $205M of revenue). |
| Which companies are comparable to Goldbelly? | Companies comparable to Goldbelly include Dunzo, Captain Fresh, InterviewBit, Tongcheng Shenghuo, WeBuyCars and Hemnet. |
| How many companies has Goldbelly acquired? | Goldbelly has acquired 1 company, including FoodyDirect. |
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