Waitr Powered by ASAP to Begin Delivery of CBD Products as Transition to “Deliver Anything” Expands

Rhea-AI Summary

Waitr Holdings Inc. (NASDAQ: WTRH) has initiated the delivery of CBD products in select Texas markets as part of its strategy to transition to a 'deliver anything' model. The company has also reached agreements with various companies to deliver a diverse range of products, including clothing and luxury items. CEO Carl Grimstad emphasized the company’s commitment to expanding this model, leveraging proprietary technology for CBD sales and delivery. Initial offerings include CBD oils, topicals, and gummies, tapping into the rapidly growing CBD retail market.

Positive

• Initiation of CBD product deliveries in Texas, expanding market reach.
• Plans for future expansion into additional markets.
• Diversification of product offerings with agreements in various sectors, enhancing revenue potential.

Negative

• None.

LAFAYETTE, La.--(BUSINESS WIRE)-- Waitr Holdings Inc. (Nasdaq: WTRH) (“Waitr” or the “Company”) today announced it reached agreements with multiple CBD dispensaries and has started delivery of CBD products in select Texas markets with expansion into other markets forthcoming.

The move into the CBD industry is the latest action taken by the company as it transitions the business to a “deliver anything” model. In the last few days, Waitr, which will soon rebrand and change its name to ASAP, has reached agreements with companies to deliver clothing, luxury, sporting goods, alcohol, flowers, auto parts and electrical products.

“We are committed to our ongoing efforts to expand our business model of ‘delivering anything’ to our customers,” said Carl Grimstad, Chairman and CEO of Waitr. “With our proprietary technology, we have the specialized platform to facilitate the sale and delivery of CBD products.”

The CBD retail market is growing across the nation, with CBD companies currently offering a wide range of products. Recent data shows market growth due to increased awareness of cannabidiol’s therapeutic benefits for health and wellness.

Initial CBD products that will be delivered by Waitr include CBD oils, topicals, gummies, candies and capsules.

About Waitr Holdings Inc.

Founded in 2013 and based in Lafayette, Louisiana, Waitr (soon to be ASAP) operates an online ordering technology platform using the deliver anything model including food, alcohol, convenience, grocery and more. Its proprietary in-stadium delivery system now provides an enhanced fan experience at sports and entertainment venues. Additionally, Waitr facilitates access to third parties that provide payment processing solutions for restaurants and other merchants. Waitr, along with Bite Squad and Delivery Dudes, is a convenient way to discover, order and receive a wide variety of on-demand products. As of March 31, 2022, they operate in approximately 1,000 cities throughout the United States.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220714005523/en/

Investors

WaitrIR@icrinc.com

Source: Waitr Holdings Inc

FAQ

What new products is Waitr Holdings Inc. delivering?

Waitr Holdings Inc. is delivering CBD products, including oils, topicals, gummies, and capsules.

What is the significance of Waitr's move into the CBD market?

Waitr's move into the CBD market is part of its strategy to adopt a 'deliver anything' business model, enhancing its offerings and market presence.

When did Waitr Holdings Inc. start delivering CBD products?

Waitr Holdings Inc. has recently started delivering CBD products in select Texas markets.

What is the future outlook for Waitr Holdings Inc. regarding market expansion?

Waitr Holdings Inc. plans to expand its delivery services for CBD products into other markets beyond Texas in the future.