{"data":{"type":"company_profile","id":8589,"entity_id":"wefunder:company:8589","attributes":{"canonical_url":"https://wefunder.com/grubmarket","generated_at":"2026-06-04T18:40:07Z","updated_at":"2026-06-04T05:02:00Z","entity_ids":{"company":"wefunder:company:8589","slug":"wefunder:company_slug:grubmarket"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-04T18:40:07Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-04T05:02:00Z","as_of":"2026-06-04T18:40:07Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-04T05:02:00Z","as_of":"2026-06-04T18:40:07Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-02-06T18:38:59Z","as_of":"2026-06-04T18:40:07Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-02-06T18:38:59Z","as_of":"2026-06-04T18:40:07Z","confidence":"medium"}}},"company":{"id":8589,"entity_id":"wefunder:company:8589","slug":"grubmarket","name":"GrubMarket","tagline":"Online Marketplace for Local Foods.","description":"What they do: GrubMarket is an online farmer’s market. Farmers list their goods online, and customers can buy fresh produce from any farm in their area. They batch orders across all the farms and deliver the goods from farm to customer kitchen fresh every morning.Why it's a big deal: For every dollar spent on produce in the U.S., 84 cents are paid to wholesalers, retailers and distributors, leaving only 16 cents for the farmer. Not only do farmers lose out, but store customers also pay a premium for all the extra margin charges by each middleman in the process.GrubMarket allows farmers to reach their customer directly - without middlemen. Now instead of one day a week at the farmers market, farms can sell to entire cities 24 hours a day, 7 days a week; farmers make 20-80% more and customers pay 25% less. Think Instacart for farm fresh food.","location":"Newark, CA","website":"www.grubmarket.com/homepage.jsp","total_amount_raised":298200,"total_investors":49,"is_funded":true,"is_active":true,"related_urls":["https://wefunder.com/grubmarket","www.grubmarket.com/homepage.jsp"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/cover_photo_version4/8589/retina_banner.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/8589/large_K6GJXry2_400x400.png","cover_photo_url":"https://uploads.wefunder.com/uploads/company/cover_photo_version4/8589/standard_banner.jpg"},"links":{"company_url":"www.grubmarket.com/homepage.jsp","twitter_url":"https://twitter.com/GrubMarket","facebook_url":"http://facebook.com/grubmarket","instagram_url":"http://instagram.com/grubmarket","youtube_url":"https://www.youtube.com/channel/UCWABrtnfISeBhdgbTDRQ6ug"},"highlights":[],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"25% cheaper than Whole Foods. Farmers make 20-80% more."},{"index":2,"claim_id":"claim-fact-2","value":"$6M gross sales in our first year. $652K in April."},{"index":3,"claim_id":"claim-fact-3","value":"18,000+ registered users and 135+ restaurants."},{"index":4,"claim_id":"claim-fact-4","value":"Operate in 8 metro regions, and plan to add 10 more by Dec."},{"index":5,"claim_id":"claim-fact-5","value":"Farmers make 80% of every sale on GrubMarket."},{"index":6,"claim_id":"claim-fact-6","value":"Buyer LTV: $800. Farmer LTV: $5,000."}],"team":[{"id":37153,"entity_id":"wefunder:company_role:37153","user_entity_id":"wefunder:user:40275","role":"founder","name":"Mike Xu","title":"CEO","bio":"Formerly Senior Engineer at eBay and Oracle. Director of Engineering at Rocket Lawyer and Vice President of Engineering at BrightIdea. Alumni of UW.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/37153/square_05c504e-1.jpg?1724167454","profile_url":"https://wefunder.com/mike.xu","linkedin_url":"https://www.linkedin.com/in/mikexu11","related_urls":["https://wefunder.com/mike.xu"]},{"id":37380,"entity_id":"wefunder:company_role:37380","role":"employee","name":"Lia Rubinoff","title":"VP of Sales","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/37380/square_lia.jpg?1431363833","related_urls":[]},{"id":37379,"entity_id":"wefunder:company_role:37379","role":"employee","name":"Mike Stefanko","title":"VP of Engineering","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/37379/square_michael.jpg?1431363790","related_urls":[]},{"id":37378,"entity_id":"wefunder:company_role:37378","role":"employee","name":"Jeff Bordes","title":"VP of Business Development","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/37378/square_jb.jpg?1431363716","related_urls":[]},{"id":37377,"entity_id":"wefunder:company_role:37377","role":"employee","name":"Paul Han","title":"Founding Engineer / CTO","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/37377/square_paul.jpg?1431363669","related_urls":[]}],"featured_investors":[],"investor_memos":[],"tab_counts":{"posts":3,"ask_questions":17,"featured_investors":0,"faq_entries":5},"active_fundraises":[{"id":5177,"entity_id":"wefunder:fundraise:5177","state":"successful","offering_type":"506(b)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":3000,"max_purchase":9,"funding_target":1500000.0,"funding_started_at":"2015-05-05T01:17:42Z","funding_closed_at":"2015-06-01T05:11:33Z","auto_close_at":"2015-05-31T23:06:47Z"}],"latest_fundraise":{"id":5177,"entity_id":"wefunder:fundraise:5177","state":"successful","offering_type":"506(b)","structure":"safe","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2015-05-05T01:17:42Z","funding_closed_at":"2015-06-01T05:11:33Z","terms":{"eb":null,"nb":"$15M","txt":"valuation cap"}},"recent_posts":[{"id":92146,"entity_id":"wefunder:feed_item:92146","type":"FeedItem::Update","visibility":"public","title":"GrubMarket Raises $32 Million","preview":"GrubMarket, the organic and healthy food delivery service, announced a $32M financing round yesterday. Led by GGV with\u0026nbsp;previous investors\u0026nbsp;Fusion Fund and Great Oaks Venture Capital, the round is a mixture of equity and debt. It's been a good\u0026nbsp;three years for GrubMarket since closing a successful Wefunder campaign in June 2015. Though the company hasn't publicly disclosed a valuation, it has raised around $64M to date and is expanding rapidly.\u0026nbsp; This is the first step in what...","published_at":"2018-07-12T19:27:48Z","author_name":"Everett Cook","url":"/feed/92146","canonical_url":"https://wefunder.com/feed/92146"},{"id":89835,"entity_id":"wefunder:feed_item:89835","type":"FeedItem::Update","visibility":"public","title":"GrubMarket: Big News","preview":"Today, GrubMarket has some really big news to share! We're thrilled to announce that TechCrunch just featured us in an article this afternoon, and we're delighted to share it with you below! We could not have achieved such great press without our wonderful and loyal customers, so we sincerely thank you for your continued support! Earn 300 GrubMarket Points ($3 Credit)We would love to share this news with others as well, and we're thrilled to give you 300 GrubMarket Points ($3 Value), if you’d...","published_at":"2017-01-09T22:33:36Z","author_name":"Jiwon Moon","url":"/feed/89835","canonical_url":"https://wefunder.com/feed/89835"},{"id":9762,"entity_id":"wefunder:feed_item:9762","type":"FeedItem::Update","visibility":"public","preview":"It's always great to receive positive emails and notes from our happy customers, as they truly mean a lot to our entire team. Thank you Sarah M. for the delightful email: \"I love GrubMarket! The produce is extremely fresh and incredibly delicious. Thank you!\"","published_at":"2015-06-20T16:46:34Z","author_name":"Jiwon Moon","url":"/feed/9762","canonical_url":"https://wefunder.com/feed/9762"}],"q_and_a":[{"id":7671,"entity_id":"wefunder:comment:7671","question":"Can i invest in Grubmarket now or is it too late for me to do so?","author_name":"Bonaventure I. OGBODU","votes":2,"created_at":"2017-01-17T11:57:02Z","canonical_url":"https://wefunder.com/grubmarket#question-7671","answers":[]},{"id":41695,"entity_id":"wefunder:comment:41695","question":"Just in case anybody happens to look here: https://techcrunch.com/2019/04/04/grubmarket-25-million/","author_name":"Lawrence Sherrick","votes":1,"created_at":"2019-04-04T18:09:47Z","canonical_url":"https://wefunder.com/grubmarket#question-41695","answers":[]},{"id":28427,"entity_id":"wefunder:comment:28427","question":"Greetings Mike, I would your business platform here! :) I was wondering are you planning to do another investment round here on Wefunder? Regards, Tim","author_name":"Timothy Gale","votes":1,"created_at":"2018-10-02T18:11:29Z","canonical_url":"https://wefunder.com/grubmarket#question-28427","answers":[]},{"id":24452,"entity_id":"wefunder:comment:24452","question":"Any mid year updates for investors?","author_name":"Dilraj Ghumman","votes":1,"created_at":"2018-07-19T12:51:29Z","canonical_url":"https://wefunder.com/grubmarket#question-24452","answers":[]},{"id":8214,"entity_id":"wefunder:comment:8214","question":"Anyone have an update?","author_name":"Neil Rock","votes":1,"created_at":"2017-02-22T02:41:28Z","canonical_url":"https://wefunder.com/grubmarket#question-8214","answers":[]},{"id":7315,"entity_id":"wefunder:comment:7315","question":"Hello, My name is miss laura, i saw your profile and it drew my attention to write to you. I would like you to communicate me through my e-mail address (sgt.lauraralph2@gmail.com) laura","author_name":"Neel Murthy","votes":1,"created_at":"2017-01-03T16:42:57Z","canonical_url":"https://wefunder.com/grubmarket#question-7315","answers":[]},{"id":4738,"entity_id":"wefunder:comment:4738","question":"Hi Mike, can you share any update on how the company is doing?","author_name":"Debanjan Mukherjee","votes":1,"created_at":"2016-07-31T06:23:09Z","canonical_url":"https://wefunder.com/grubmarket#question-4738","answers":[]},{"id":2420,"entity_id":"wefunder:comment:2420","question":"another question, sorry about not able to aggregate my questions into one question. How do you address food safety issue? food safety liability?","author_name":"Li Li","votes":1,"created_at":"2015-05-08T05:52:10Z","canonical_url":"https://wefunder.com/grubmarket#question-2420","answers":[{"id":2470,"entity_id":"wefunder:comment:2470","answer":"We enforce the highest and most rigid standard on food safety. We have comprehensive online terms and conditions, food inspection protocols to secure food safety. Because our strictness and diligence, food safety issues are rare seen and we always work with food producers to promptly address if any possible case could happen. Food safety liability is clearly defined by our online terms and conditions and our legal agreement with food producers. Moreover, because we don't store food in warehouse and we are just a marketplace for direct sale and delivery service, food safety liability is at minimum with GrubMarket although we always enforce the highest and most rigid standard on food safety.","author_name":"Mike Xu","votes":2,"created_at":"2015-05-17T05:27:11Z"}]},{"id":2419,"entity_id":"wefunder:comment:2419","question":"Any comment on Farmigo?","author_name":"Li Li","votes":1,"created_at":"2015-05-08T04:50:33Z","canonical_url":"https://wefunder.com/grubmarket#question-2419","answers":[{"id":2469,"entity_id":"wefunder:comment:2469","answer":"Farmigo is an early player in this space, and also our competitor. However, Farmigo burned several millions of dollars in the last 3-4 years, and yet as of today their business scale is similar to that of GrubMarket. Farmigo pivoted their business model before: earlier they made enterprise software for farmers, then they pivoted to online marketplace model. However, their delivery model is about building pickup sites in the community, instead of delivery to the doorstep of consumers which we found most of consumers prefer. GrubMarket has brighter future and much faster growth than Farmigo.","author_name":"Mike Xu","votes":1,"created_at":"2015-05-17T05:17:09Z"}]},{"id":2418,"entity_id":"wefunder:comment:2418","question":"What was April GMV?","author_name":"Andrew Bursky","votes":1,"created_at":"2015-05-08T03:42:30Z","canonical_url":"https://wefunder.com/grubmarket#question-2418","answers":[{"id":2468,"entity_id":"wefunder:comment:2468","answer":"April GMV is about $650K.","author_name":"Mike Xu","votes":0,"created_at":"2015-05-17T05:10:15Z"}]},{"id":2415,"entity_id":"wefunder:comment:2415","question":"If you hit the $1.7mm target GMV by December, what is your anticipated EBITDA run rate (pre growth expenditures)? What will your cash burn run rate be at year end? How far does this round take you?","author_name":"Andrew Bursky","votes":1,"created_at":"2015-05-07T05:28:26Z","canonical_url":"https://wefunder.com/grubmarket#question-2415","answers":[{"id":2467,"entity_id":"wefunder:comment:2467","answer":"We expect to keep the cash burn run rate by year end to be no more than $120K/month. In the next year, we will be able to keep to cash burn rate to be no more than $200K/month. This round will take us at least 30 months.","author_name":"Mike Xu","votes":0,"created_at":"2015-05-17T05:09:45Z"}]},{"id":2406,"entity_id":"wefunder:comment:2406","question":"Where is FreshDirect positioned in this ecosystem relative to you?","author_name":"Craig Kuang","votes":1,"created_at":"2015-05-06T18:10:37Z","canonical_url":"https://wefunder.com/grubmarket#question-2406","answers":[{"id":2466,"entity_id":"wefunder:comment:2466","answer":"Fresh Direct is a re-seller model, other than a marketplace model for direct sale of fresh local food (which is where we are). As I mentioned in Q\u0026amp;A, there is no dominant eCommerce player in this space. Fresh Direct is based mostly in New York and some other east coast cities. GrubMarket will be the first nation-wide marketplace for fresh local food with presence in many cities of west coast, east coast, midwest and other parts of the U.S.","author_name":"Mike Xu","votes":0,"created_at":"2015-05-17T04:50:42Z"}]},{"id":21621,"entity_id":"wefunder:comment:21621","question":"Hi Mike. Any updates for 2018? Are you still on track for an IPO in 2019?","author_name":"Dilraj Ghumman","votes":0,"created_at":"2018-05-16T14:26:59Z","canonical_url":"https://wefunder.com/grubmarket#question-21621","answers":[]},{"id":18808,"entity_id":"wefunder:comment:18808","question":"Any update? It’s been a while we read anything about Grubmarket.","author_name":"Li Li","votes":0,"created_at":"2018-03-12T18:53:42Z","canonical_url":"https://wefunder.com/grubmarket#question-18808","answers":[]},{"id":18516,"entity_id":"wefunder:comment:18516","question":"Any update?","author_name":"Li Li","votes":0,"created_at":"2018-03-01T07:06:07Z","canonical_url":"https://wefunder.com/grubmarket#question-18516","answers":[]},{"id":15970,"entity_id":"wefunder:comment:15970","question":"Hi, haven't heard from this company for a while, any update?","author_name":"Li Li","votes":0,"created_at":"2017-11-27T22:59:26Z","canonical_url":"https://wefunder.com/grubmarket#question-15970","answers":[]},{"id":4505,"entity_id":"wefunder:comment:4505","question":"Any progress updates?","author_name":"Dilraj Ghumman","votes":0,"created_at":"2016-07-17T13:10:25Z","canonical_url":"https://wefunder.com/grubmarket#question-4505","answers":[]}],"faq":[{"question":"Where is FreshDirect positioned in this ecosystem relative to you?","answer":"Fresh Direct is a re-seller model, other than a marketplace model for direct sale of fresh local food (which is where we are). As I mentioned in Q\u0026amp;A, there is no dominant eCommerce player in this space. Fresh Direct is based mostly in New York and some other east coast cities. GrubMarket will be the first nation-wide marketplace for fresh local food with presence in many cities of west coast, east coast, midwest and other parts of the U.S."},{"question":"If you hit the $1.7mm target GMV by December, what is your anticipated EBITDA run rate (pre growth expenditures)? What will your cash burn run rate be at year end? How far does this round take you?","answer":"We expect to keep the cash burn run rate by year end to be no more than $120K/month. In the next year, we will be able to keep to cash burn rate to be no more than $200K/month. This round will take us at least 30 months."},{"question":"What was April GMV?","answer":"April GMV is about $650K."},{"question":"Any comment on Farmigo?","answer":"Farmigo is an early player in this space, and also our competitor. However, Farmigo burned several millions of dollars in the last 3-4 years, and yet as of today their business scale is similar to that of GrubMarket. Farmigo pivoted their business model before: earlier they made enterprise software for farmers, then they pivoted to online marketplace model. However, their delivery model is about building pickup sites in the community, instead of delivery to the doorstep of consumers which we ..."},{"question":"another question, sorry about not able to aggregate my questions into one question. How do you address food safety issue? food safety liability?","answer":"We enforce the highest and most rigid standard on food safety. We have comprehensive online terms and conditions, food inspection protocols to secure food safety. Because our strictness and diligence, food safety issues are rare seen and we always work with food producers to promptly address if any possible case could happen. Food safety liability is clearly defined by our online terms and conditions and our legal agreement with food producers. Moreover, because we don't store food in warehou..."}]}}}