Walmart acquires recipe startup Yumprint
Walmart recently announced that it had purchased recipe technology company Yumprint in an effort to expand its online grocery service offerings.
Seattle-based Yumprint was founded in 2011 and is behind several meal-planning products. Its website and mobile application allow users to search and discover new recipes from thousands of food blogs and websites. In a press release, the retail giant said that Yumprint founders Chris Crittenden and Wes Dyer would be using their skills to push Walmart's new online delivery service.
"Chris and Wes's ideas and ambitions for transforming the grocery shopping experience match the global opportunity Walmart enjoys in this space, and their accomplishments with Yumprint just scratch the surface of what we're going to do next together," Ben Galbraith, Walmart.com's vice president of global products said in the statement.
Although it still has a relatively small share of the market, online grocery shopping is growing in popularity. Walmart has attempted to enter this business by offering same-day delivery service in the San Francisco Bay Area and Denver. With the Yumprint technology acquisition, the retailer aims to grow this part of its operations.
Walmart has its roots in brick-and-mortar retail, but in recent years it has seen increased competition from websites like Amazon.com. Local grocery stores have offered delivery services for years, but larger companies are now attempting to get in on the action. Building the physical and technological infrastructure to make these deliveries possible can can be expensive. Acquiring startups like Yumprint can often make this process much easier.