Often times when investors look at the tech stock market, they tend to focus on larger companies like Amazon (AMZN) or Google (GOOGL), because these industry behemoths have proven they’re staying power over the course of the last few years. While this tactic may seem like a good strategy on the surface, it completely forgoes the potential of companies in lesser-known sects of the tech industry that are definitely worth looking into.
In recent years, humanity has taken several massive steps forward in terms of technological advancements, but in those steps, we’ve also upped our expectations of companies to innovate and create products to improve our quality of life.
According to a recent report, the global food delivery mobile app market is projected to reach $16.61 billion by 2023, indicating a visceral shift in how consumers choose to operate on a daily basis. The fact of the matter is that, as a society, we are so focused on working to advance our own careers and take care of what needs to get done that we often don’t have time to take care of certain tasks in a given day. This, herein, demonstrates the need for consumers to have the freedom to order products and goods through an app and await delivery of their orders, rather than cutting into time that could otherwise be used for productivity.
The average person does more of their shopping online rather that in person. In fact, according to recent reports, nearly 80% of Americans shop online. I mean, who could blame anyone for not enjoying the ease of browsing online sites all from the comfort of one’s bed or kitchen table. The ease of on-demand delivery apps helps with allowing for more time at work, with their families, and to do the hobbies they love. In turn, food delivery startups have created thousands of jobs in the US, which only adds to our ever-growing economy.
Special Delivery! On-Demand Tech Companies Hit Billion-Dollar Valuations; Here’s How Investors Can Capitalize In The Market
Enter ParcelPal Technology Inc (PKG) (PT0.F) (PTNYF), a delivery tech company dead set on innovating, fabricating, distributing goods to consumers to improve their quality of life. At a time where access to food and supplies is difficult for millions of individuals, ParcelPal is determined to do what it takes to deliver to consumers what they need to get by. Over time, societal dependence on the internet has ultimately changed the lifestyle of humanity as we’ve come to know it. In a world where nearly every item imaginable can be purchased online, why should food delivery be stuck in the stone age?
ParcelPal Technology Inc (PKG) (PT0.F) (PTNYF)‘s executive leadership team recognized the growing opportunities presented by the food delivery mobile application industry. According to several analysts, the delivery app market is expected to witness a high growth rate as we see an exponential increase in smartphone usage, as well as the increased availability of open-source deployment platforms.
Towards the end of January, ParcelPal Technology Inc (PKG) (PT0.F) (PTNYF) announced that it had formed a partnership with MADD Canada to aid in the continuous fight to prevent impaired driving. MADD Canada has endorsed ParcelPal as their official delivery service in Canada. As part of the ParcelPal’s national rollout campaign, advertising for ParcelPal’s service will be seen across the country in various educational forms. Together, MADD Canada and ParcelPal will launch a national awareness campaign focused on educating Canadians on the dangers of impaired driving and the options they have for getting items they want or need without leaving the party.
Following in ParcelPal Technology Inc (PKG) (PT0.F) (PTNYF)‘s footsteps, other food delivery app companies have pulled out the stops to take advantage of the nascent sect of the tech industry. GrubHub Inc (GRUB), another leading online and mobile-food delivery marketplace, announced financial results for the fourth quarter ended December 31, 2018, earlier this month.
Per the details of their announcement, Grubhub (GRUB posted revenues of $288 million, which represents a 40% year-over-year increase from $205 million back in 2017.
“2018 was a transformational year for GrubHub. We made great progress connecting hungry takeout diners with the restaurants they want, further positioning ourselves to continue to capture a significant share of the more than $200 billion takeout industry in the U.S. We deepened relationships with our restaurant partners through acquisitions of LevelUp and Tapingo, increased the number of restaurants that partner with us to more than 105,000, grew active diners on our platform by 3.2 million, and – most emblematic of the year – accelerated organic DAG growth on our marketplace every single quarter. We couldn’t be more excited about building on this momentum in 2019.”
–Matt Maloney, Founder, and CEO, GrubHub
An Affiliate of JSG Communications, MIDAM VENTURES LLC has been compensated $75,000 per month for 3 months by ParcelPal Technology, Inc. for a period beginning September 1, 2018 and ending February 1, 2019 to publicly disseminate information about (PTNYF/PKG). We may buy or sell additional shares of (PTNYF/PKG) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. We own zero shares.
Please click here for full disclaimer.
