So long Waitr, hello ASAP! Food delivery service reveals its new name
Waitr announced Friday that it is planning to rebrand as ASAP as part of a strategy brought on by a legal settlement.
The Lafayette-based food delivery service said in a press release that it has acquired the domain name "ASAP.com," and reserved the trading symbol "ASAP" for the NASDAQ exchange.
"We expect that 'ASAP' will serve as the foundation of our brand moving forward, as we believe it better embodies the future direction of our Company," the company said in the release.
In August, the company revealed that it was changing its name as a result of a legal settlement with the California-based Waiter.com, which offers a similar service in several markets in the Western U.S. Waitr also agreed to pay Waiter.com $4.7 million as part of the settlement.
As a result of the settlement, Waitr must stop using the Waitr name and its trademark, though it can continue using Waitr Holdings as its corporate name. Under the settlement agreement, Waitr had a 12-month period where it can continue operations as Waitr, but it cannot add new restaurants under the Waitr brand in certain West Coast markets during that time.
The lawsuit began in 2016, and the settlement was reached near the end of June. In early June, Waitr announced it would be undergoing a comprehensive rebrand and name change that would take place in the next 12 to 18 months.
When the rebrand was announced, Waitr said the rebranding effort was to better align with the company's decision to expand into other services.