Earlier this week on-demand delivery app SpoonRocket announced that it would shut down operations, after acquisition talks with an unnamed quick-service restaurant fell through. Now, it looks like the company will rise from the ashes after iFood, a Brazilian delivery startup, purchased it.
It won't exactly be restored to its former self though— iFood will use SpoonRocket's platform in Latin America for order tracking, quicker delivery times and improve the experience between restaurants and customers. According to Techcrunch, iFood is one to watch (in Latin America), as it is actually turning a profit and could be worth at least $1.5 billion annually; it has steadily been buying companies over the past two years, with SpoonRocket as the 15th acquisition.
Apparently iFood has been in talks with SpoonRocket for weeks, and got the go-ahead after the company's U.S.-based purchaser fell through. Now SpoonRocket's CTO will help transition that technology over to iFood, over the course of a two to three months. In a release, co-founder Anson Tsui said that the company is just happy to have found a home for their proprietary technology, despite the ultimate demise of SpoonRocket as we know it.