The Information reports that 7-Eleven has acquired Skipcart, described as "a four-year-old startup that developed a major network of drivers for fast delivery of restaurant food and other goods in the U.S." Terms of the deal were not disclosed, though two years ago Skipcart was valued at $65 million; according to the story, "the company says on its website that its network of more than 100,000 drivers serves retailers in 37 states with an average delivery time of 30 minutes."
The move signals a change for 7-Eleven, which to this point has been using DoorDash to make deliveries. The Information writes that "currently, DoorDash’s contractor-drivers deliver orders to 7-Eleven customers who shop through the DoorDash app or use 7-Eleven’s own apps to order food and alcohol for delivery … 7-Eleven now intends to compete more directly with GoPuff and DoorDash but declined to elaborate."
- KC's View:
This move gives 7-Eleven several ways to go. It can use Skipcart to lessen its reliance on DoorDash, which I kind of think might make sense since DoorDash also operates DashMart, which competes with its c-store retail customers. This would be a way for 7-Eleven to draw the line and eventually say that since you decided to compete with us, you no longer can have our business.
It also potentially gives 7-Eleven a new revenue stream, since it apparently wants Skipcart to continue making deliveries for restaurants. These days, when competition is so tough, if you can develop another revenue stream in a way that seems organic to your core business model, that seems like a sensible thing to do.