Green Summit Group Surpasses March 2017 Revenue Predictions with $10.5 Million Run Rate
With a 36 percent increase in revenue from the prior month, GSG's latest financial announcement comes on the heels of the launch of the brand's first Chicago kitchen, located in Lakeview, IL.
Green Summit Group, LLC (GSG), an online food delivery company offering 14 internally curated food brands, has posted an impressive run rate of $10.5 million for the month of March, surpassing initial revenue predictions. With a 36 percent increase in revenue from the prior month, GSG's latest financial announcement comes on the heels of the launch of the brand's first Chicago kitchen, located in Lakeview, IL. GSG also operates outposts throughout New York City (Manhattan and Brooklyn) and plans to end the year with eight total locations.
"We're extremely proud of the business model we've created and look forward to continuing to provide our enthusiastic consumer base with the best food delivery experience possible," says Jason Shapiro, President and Chief Finance Officer at GSG. "With the retail market continuing to struggle and the online food delivery industry slated to expand to $210 billion in the coming years, GSG's variety of online verticals position it for great success."
GSG's low capital model has allowed it to build its portfolio of brands and $10.5M of run rate with just $3.6 million in total funding. This compares to competitors, who have required 10x to 30x the funding to achieve comparable revenue levels.
GSG's concepts are currently available exclusively to customers via Grubhub/Seamless. GSG presently delivers over 2,000 orders per day across Brooklyn Chicago and Manhattan.
