Postmates Acquihires Exercise Concierge Sosh In A Hearth Sale
Sosh, the curated on-line market that lets you discover issues to do in your metropolis, is shutting down, and 18 of Sosh’s forty staff are headed to Postmates as a part of an acquihire, TechCrunch has confirmed. Fortune reported that the deal was a full acquisition, with IP exchanging palms, however we’ve confirmed with a Postmates spokesperson that none of Sosh’s know-how is coming over to Postmates.
That transition consists of Sosh founder and CEO Rishi Mandal.
One supply stated that this hearth sale adopted inner rumors of acquisition talks with Airbnb as the corporate was shifting focus from Collection C funding to the potential acquisition. These talks fell by way of in line with our sources, and out of cash, Sosh was pressured to promote for elements.
Sosh constructed a Restaurant Concierge that features as an Uber button for prix fixe meals at excessive-finish eating places, overlaying the reserving of the reservation all the best way to the paying of the invoice. Provided that Postmates offers fairly a bit in meals supply, the thought of taking a slice of the in-restaurant expertise is sensible.
Sosh has been round since 2011, providing a extremely curated record of choices for issues to do, with an apparent give attention to eating places and cocktails. However Sosh went past the typical Yelp or Foursquare mannequin that makes use of consumer-generated evaluations and proposals to serve content material.
As an alternative, Sosh scraped info from everywhere in the net a few specific metropolis and had human specialists curate that listing to point out solely the good issues to do within the metropolis. Oftentimes, these suggestions went past a spot to eat to supply issues like cooking courses with a specific chef or a particular, informative tasting flight at a cool speakeasy.
With greater than $sixteen million in funding, Sosh launched the Sosh Market in 2013, letting retailers and distributors submit their very own occasions on the platform, fairly than Sosh’s algorithm bearing the brunt of the seek for cool stuff to do.
In change for a payment, Sosh would deal with each facet of the occasion for the seller, from distribution to promotion to ticket gross sales.
Clearly, there’s a slice of the inhabitants in main cities like New York and San Francisco (the place Sosh operates) which are concerned about doing one thing fabulously particular and probably costly on a regular basis, however it seems most people simply need to sit right down to a scrumptious meal at a cool restaurant.
So Sosh launched the Restaurant Concierge, which lets customers e-book tables and pay for a prix fixe meal via the app. Quite questioning what to eat and paying a invoice on the finish of the meal, Sosh made eating out so simple as urgent a Purchase button, Uber-type.
The Postmates acquihire is sensible provided that Postmates has been quickly increasing over the previous yr.