# GrubMarket

Online Marketplace for Local Foods.

- Canonical URL: https://wefunder.com/grubmarket
- Entity ID: wefunder:company:8589
- Last updated: 2026-06-04T05:02:00Z
- Generated at: 2026-06-04T18:40:37Z

## Quick facts
- 25% cheaper than Whole Foods. Farmers make 20-80% more.
- $6M gross sales in our first year. $652K in April.
- 18,000+ registered users and 135+ restaurants.
- Operate in 8 metro regions, and plan to add 10 more by Dec.
- Farmers make 80% of every sale on GrubMarket.
- Buyer LTV: $800. Farmer LTV: $5,000.

## Active fundraises
- wefunder:fundraise:5177: 506(b) successful (USD)

## FAQ
1. **Where is FreshDirect positioned in this ecosystem relative to you?**
   - 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&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.
2. **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?**
   - 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.
3. **What was April GMV?**
   - April GMV is about $650K.
4. **Any comment on Farmigo?**
   - 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 ...
5. **another question, sorry about not able to aggregate my questions into one question. How do you address food safety issue? food safety liability?**
   - 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...

## Team
- Mike Xu (CEO)
- Lia Rubinoff (VP of Sales)
- Mike Stefanko (VP of Engineering)
- Jeff Bordes (VP of Business Development)
- Paul Han (Founding Engineer / CTO)

## Recent posts
- GrubMarket Raises $32 Million (2018-07-12T19:27:48Z)
- GrubMarket: Big News (2017-01-09T22:33:36Z)
- 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!" (2015-06-20T16:46:34Z)

## Q&A
- Q: Can i invest in Grubmarket now or is it too late for me to do so?
- Q: Just in case anybody happens to look here: https://techcrunch.com/2019/04/04/grubmarket-25-million/
- Q: Greetings Mike, I would your business platform here! :) I was wondering are you planning to do another investment round here on Wefunder? Regards, Tim
- Q: Any mid year updates for investors?
- Q: Anyone have an update?
- Q: 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
- Q: Hi Mike, can you share any update on how the company is doing?
- Q: another question, sorry about not able to aggregate my questions into one question. How do you address food safety issue? food safety liability?
  - A: 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.
- Q: Any comment on Farmigo?
  - A: 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.
- Q: What was April GMV?
  - A: April GMV is about $650K.
- Q: 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?
  - A: 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.
- Q: Where is FreshDirect positioned in this ecosystem relative to you?
  - A: 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&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.
- Q: Hi Mike. Any updates for 2018? Are you still on track for an IPO in 2019?
- Q: Any update? It’s been a while we read anything about Grubmarket.
- Q: Any update?