EXCLUSIVE: Selena Gomez is investing in $15 billion grocery delivery startup Gopuff
Singer, actress, and entrepreneur Selena Gomez has revealed her next investment: Gopuff, a grocery delivery company that has been valued at $15 billion and is garnering attention for its super-fast delivery services. While Gomez declined to disclose the amount she’s investing, Gopuff leadership says that in addition to her financial stake, she will become a “strategic partner” with the Philadelphia-based startup.
Founded in 2013 by Yakir Gola and Rafael Ilishayev, Gopuff calls itself an “instant needs” company that delivers everything from late-night snacks to diapers to COVID-19 testing kits, 24 hours a day, 7 days a week. Unlike other delivery services like DoorDash and Postmates, Gopuff owns all of the inventory that it offers on its platform, allowing the startup to keep delivery costs and transit times low. Gopuff’s 550 micro-fulfillment centers in the U.S. and U.K. are stocked with its products, and the company promises that drivers can deliver them from warehouse to consumer in 30 minutes or less. Gomez said it was Gopuff’s lightning-fast delivery time that initially put the company on her radar.
“The first time I heard about Gopuff was one night when I was hanging out with some friends at home. We needed something from the store, but no one wanted to hop in the car and drive, so someone suggested Gopuff. I was blown away by how quickly our order arrived,” Gomez told Fortune in an email. “After that, I started hearing their name and seeing the Gopuff brand pop up all over.”
Gomez is also a co-owner and partner in Serendipity Brands, a NYC-based ice cream company born from restaurant Serendipity3. As part of the deal with Gomez, Gopuff will work with Serendipity Brands to offer its ice cream to customers. Gopuff SVP Dan Folkman said that the Serendipity collaboration is especially exciting given the startup’s interest in offering products from local businesses.
“We’re super passionate about working with local brands,” said Folkman. “Selena was obviously already a partner [in Serendipity] and she has her own flavor. So to be able to bring that flavor to the market and have it as a place where people can get it on Gopuff, we think is a homerun.”
Folkman said that figures like Gomez have an “unparalleled ability” to bring in new consumers, especially given their reach on social media. He believes this partnership is a sign of what’s to come in terms of how celebrities and brands will collaborate in the future.
“For celebrities like Selena to promote a product on social media and within 20 minutes, have it at someone’s door is game changing for brands,” Folkman said.
Backed by firms including Accel and SoftBank Vision Fund, Gopuff continues to grow. After a number of acquisitions, including the 2020 purchase of alcoholic beverage chain Bevmo for $350 million, the startup is focused on plans to expand to the West Coast.
Gomez’s profile as a businessperson is on the rise. In addition to her stake in Serendipity and now Gopuff, she recently announced that she’s partnering in a forthcoming media company focused on mental health. When Fortune asked what her next business move might be, she said she’s excited to continue exploring the world of investing, especially after her beauty company Rare Beauty found global success with partners like Sephora.
“When that deal closed, I was beyond thrilled and it really piqued my interest in the other aspects of business and investing,” Gomez said via email. “As for what is next, I have a few things up my sleeve.”
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