Online grocer Door to Door Organics reports more than US$26M in revenue in 2013, sets goal of US$40M in revenue for 2014, plans to enter three additional markets
February 19, 2014
– Leading natural and online grocer on track to achieve more than $40 million in revenue and expand into three additional markets in 2014
-Door to Door Organics, a leading natural and organic online grocer, today announced that David P. Maytubby has been named as the company’s chief financial officer (CFO). In this role, Maytubby will be responsible for leading Door to Door Organic’s financial operations and investment strategy as the company continues its aggressive growth trajectory.
With an innovative customer-focused approach to the burgeoning online grocery industry, Door to Door Organics is changing the way people shop by empowering them to eat Good Food that supports their health, their community, and the environment. Working with 200 local farms and partners, Door to Door Organics currently delivers fresh, high-quality organic and natural food across nine states, with plans to expand into three additional markets by the end of 2014. The company is on track to achieve more than $40 million in revenue in 2014.
In his new role, Maytubby joins Door to Door Organics’ team of veteran retail, natural foods and e-commerce technology executives, including CEO Chad Arnold and COO David Clark. Together the team will work to further bolster the company’s position as an online grocery industry leader through market expansion and new technology, while also working to raise a Series B investment.
“Door to Door Organics’ unique focus on providing their customers with fresh, natural and organic food from local farms and producers – along with its proven profitability, investment in e-commerce infrastructure and scalable and efficient growth model – sets the company apart in a competitive industry that is becoming increasingly crowded with ‘me too’ players,” said Maytubby. “I look forward to working with Chad, David and the rest of the Door to Door Organics team as we witness our growth first-hand and change the way consumers plan for, purchase and prepare Good Food.”
With more than 28 years of experience in finance roles of increasing scope and responsibility, Maytubby’s career spans public accounting, high-tech, private equity and large scale private investing and wealth management. Maytubby most recently served as CFO of LineRate Systems, Inc., where he guided the company through its acquisition by F5 Networks, Inc. (NASD: FFIV) in early 2013. Throughout his 12 years as a CFO, Maytubby has been responsible for numerous corporate transactions including M&A, debt, equity, joint ventures, and leveraged recapitalizations in multiple industries. Maytubby has also raised over $175 million of venture capital and participated in over $1.5 Billion of M&A transactions, public stock offerings, and public debt offerings.
“We achieved tremendous success in 2013 with more than $26 million in revenue. However, our momentum will increase significantly in 2014 as we ‘double-down’ with new technology, new markets and new customer offerings that further empower people to eat Good Food,” said Chad Arnold, president and CEO of Door to Door Organics. “David’s deep financial experience and expertise will be an incredible asset to us as we embark on the next exciting stage of our growth.”
Maytubby holds a degree in finance and accounting from Fresno Pacific University.
About Door to Door Organics
Door to Door Organics is changing the way people shop and interact with what they eat by empowering them to eat Good Food that supports their health, their community, and the environment. The Company delivers fresh, high-quality organic, natural and local food directly to homes, offices and schools throughout the West, Midwest and East Coast. Door to Door Organics helps consumers make easy, healthy food choices for their families while supporting their local communities. For more information, visit www.doortodoororganics.com or follow us on Twitter (@dtdOrganics and @weloveveggies).
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