BDC Capital led the round in Vancouver-based Foodee. (The Logic)

Talking point: Both firms were hit hard by the pandemic, but Foodee is betting that enough people will return to offices and want to order food that it will rebound. The combined firm serves 14 cities and was delivering 70,000 meals a week prior to the pandemic. The acquisition has clear short-term benefits for Foodee: it gets rid of a rival with which it had to compete in Chicago and Austin, gains the new market of San Francisco and was able to cut the deal price by 60 per cent due to the pandemic. Whether this is a smart long-term bet remains to be seen. As CEO Ryan Spoong put it, “It’s one of those things where you have to say, ‘Well, you’re getting an incredible deal today, and in nine months you’ll look like a genius or a fool.’”