With 8 million lunches served in 16 cities around the world since it launched two years ago, the food delivery service MealPal has found success by cozying up to the people dishing out the food.
"You've got the challenge of an industry, the restaurant industry, that historically has really low profit margins," said Mary Biggins, MealPal's co-founder. "The average restaurant has a margin of only six percent."
That's been too tight for some Silicon Valley food-delivery startups such as Maple and Munchery to operate (both went under). Postmates struggles to find its own profit within those margins.
The difference for MealPal, Biggins said in an interview on Cheddar, was that it tied its model to restaurants' profitability from the start.
"We want every restaurant on MealPal to be able to say that MealPal is their most valuable partner," she said.
Biggins first had success with Classpass, an app that allowed users to sign up for a bunch of gym classes for an affordable fee. MealPal functions similarly, offering lunch for just $6 from some of the most popular restaurants in a city.
"You need to build something that's going to resonate with consumers, but also work for the supply side as well," she said.
For full interview, [click here](https://cheddar.com/videos/digging-into-the-world-of-apps).
Shan Aggarwal, VP of Corporate and Business Development at Coinbase, discusses the company's acquisitio of Deribit as it heads into the S&P 500. Watch!
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
Shopping expert Trae Bodge discusses how talks between the U.S. and China is good news for now, but uncertainty remains for back-to-school and the holidays.
Jake Traylor, White House reporter at Politico, joins Cheddar to discuss how Trump is aiming to lower drug prices and how it differs from Biden's approach.
DJ X, alongside Molly Holder, Senior Director of Product Personalization, takes us inside Spotify's A.I. DJ and how it's the best new way to listen to music.