Buymie
The business, the turning points, and the decisions behind them.
Some sections are still being researched1 / 4
Sections to complete：05
01 / WHAT IT BUILT
What the company did
Buymie was a Dublin-based on-demand grocery delivery platform founded in 2016 and led by co-founder and CEO Devan Hughes. Its mobile app connected consumers with a trained personal shopper who picked groceries in local stores and delivered them to the door in as little as an hour, on a schedule up to a week in advance. Revenue came from delivery fees, retailer commissions, retailer partnership fees and advertising. Investors included Unilever, Eamonn Quinn, Haatch, ACT Venture Capital, Sure Valley Ventures and Enterprise Ireland, with about $21 million raised. Retail partners included Lidl and Tesco in Ireland and Co-op and Asda in the UK. In February 2023 it was acquired by Dunnes Stores, Ireland's largest supermarket chain, which kept it operating as an independent entity with Hughes as CEO and saw it as a vehicle for growth overseas, particularly in the UK.
02 / Buymie FAILURE REASONS
Failure factors supported by the current evidence
Reporting citing the Business Post said Buymie’s attempt to raise a further €10–20M via Goodbody failed, forcing a sale process in which Dunnes could buy the Ireland grocery-delivery firm for as little as €1 while taking on creditors.
A planned €10–20M raise was unsuccessful, prompting advisors to seek a buyer.
Reports said Dunnes could pay as little as €1 and agree to pay creditors.
03 / EVENT HISTORY
Events in the structured record
- Acquisition
After a failed €10–20M raise, Buymie was sold to Dunnes Stores in a deal reported as potentially ~€1 plus assumption of creditor payments; operations continued under Dunnes.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.