Picnic provides a corporate office meal platform that acts as a digital food court, offering meals from many restaurants with no delivery fees. It serves office buildings by batching orders in a single building so one driver can pick up meals from multiple restaurants and deliver to a common pickup area within a fixed window. Employees can order from different restaurants and receive all meals at the same time; the platform also supports team orders, catering for large events, and subsidized meal programs for companies. It targets the corporate market as a tenant amenity through building managers and is affiliated with City Storage Systems (owner of CloudKitchens and Otter), linking to real estate and logistics infrastructure to reduce costs.
Company Size
51-200
Company Stage
Growth Equity (Venture Capital)
Total Funding
$1.9B
Headquarters
Los Angeles, California
Founded
2015
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Flexible Work Hours
Phone/Internet Stipend
Remote Work Options
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Paid Vacation
Paid Holidays
Hy brid Work Options
401(k) Retirement Plan
Stock Options
Wellness Program
Mental Health Support
Conference Attendance Budget
Family Planning Benefits
Fertility Treatment Support
Professional Development Budget
Phone/Internet Stipend
Home Office Stipend
Hybrid Work Options
Remote Work Options
Flexible Work Hours
Paid Sick Leave
Paid Holidays
Online supermarket Picnic has completed a sustainability framework linked to its existing €220 million revolving credit facility. The financing, provided since 2024 by BNP Paribas, ING, Rabobank, and ABN AMRO, now includes a mechanism where financing costs fluctuate based on Picnic's sustainability performance. Three key performance indicators have been established: reducing greenhouse gas emissions, cutting food waste, and increasing the share of organic fruit and vegetables in sales. Picnic aims for 30% growth in fresh organic produce sales. The company also targets reducing food waste to below 0.5% of all food sold and decreasing Scope 3 emission intensity in line with 1.5°C reduction pathways. Co-founder Michiel Muller said sustainability is embedded in how Picnic works, innovates, and scales. The sustainability-linked loan ties financing costs to achieving predetermined sustainability goals rather than funding specific sustainable projects.
Edeka has increased its stake in Dutch online grocery service Picnic to over 32%, up from 28%, following a €430 million investment round. The German supermarket group now holds approximately one-third of the company's shares. Other investors remain involved in Picnic, including Dutch investment firms Hoyberg and NPM Capital, as well as the Bill and Melinda Gates Foundation. The move strengthens Edeka's position in the online grocery sector.
Picnic says it's using the bulk of the funds to beef up its presence in Germany.
Picnic has raised €430 million for its expansion in Germany. The funding comes from existing investors, though founder Michiel Muller did not disclose specific parties or amounts. The online supermarket aims to reach 50% of German households within a few years, up from the current 30%.
Amsterdam-based Picnic, an online supermarket, has achieved its first profit in the Netherlands at the end of the last year, thanks to its robotised distribution centre in Utrecht.Michiel Muller, Picnic’s co-founder and director attributes this to improved efficiency, reports FD.nl.The Dutch company didn’t disclose the exact profit amount it made, however, based on its performance in the last four weeks of 2023, it is projected to have a gross operating result (EBITDA) of €4M by the end of the year, adds the report.‘We have always said that we want to grow quickly first and then automate. It is great that this is now leading to profitability in the Netherlands,’ he says to FD.nl.The announcement comes around eight months after raising €355M in a fresh round of funding from its shareholders, including German supermarket chain Edeka, the Bill & Melinda Gates Foundation Trust, and well-known Dutch family businesses.The Dutch company invested in robotised distribution centres in Utrecht and Dordrecht in recent years.- A message from our partner -Currently, 30 per cent of the groceries ordered at Picnic in the Netherlands are automatically processed by robots, claims the report.While the Netherlands operations achieved profitability, the overall group still operates at a loss. The company reported a loss of €220.6M for the previous year and €208.7M for 2022.The Dutch company’s net turnover increased by 34 per cent to €1.2B, with turnover in the Netherlands reaching €796M, a 28 per cent increase.Muller stressed that the significant growth outpaced the loss, and the results were not unexpected. Even, the shareholders are aligned with this strategy and have understood the company’s financials, claims Muller to FD.nl.Picnic: Supermarket on wheelsFounded in 2015 by Michiel Muller, Frederik Nieuwenhuys, Joris Beckers, and Bas Verheijen, Picnic quickly became a household name in the Netherlands, and their small electric vans a familiar sight.Before its launch in late 2015, Picnic operated in stealth for three years with a team of 30 specialists, focusing on streamlining the delivery of groceries to homes without unnecessary intermediaries.With Picnic, the customer can choose the most convenient delivery time, tracked through the Picnic shopping radar down to the minute.The innovative distribution method incurs such low costs that delivery is offered free of charge, and the groceries are competitively priced.The company expanded to Germany in 2018 and entered the French market in 2021