GoMeat Services

Early Stage

Meet the Meat At Your Doorsteps


Raised to Date: Raised: $69,522

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Bridgewater, New Jersey


Food, Beverage, & Restaurants

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GoMeat , with a pre-money valuation of $9 million, is raising funds on StartEngine. The company is a grocery ordering and delivery service for Halal and Kosher meat, serving the $32 billion North American Halal meat market—a niche segment of the supermarket industry that has by and large been ignored by other on-demand ordering & delivery apps. The company was founded by Waqas Siddiqi, Ibrahim Quadri, Ehsan Muhammad, Syed Hamed Quadri and Asim Quresh in 2014. The company's crowdfunding round has a maximum goal of $500,000.

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Financials as of: 12/22/2020
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Muslims are the world’s fastest-growing religious group. The world’s population is expected to grow 32% in decades to come, but the Muslim population is expected to grow by 70% — from 1.8 billion in 2015 to nearly 3 billion in 2060. By 2060, it’s believed that more than three in ten people around the world will be Muslim. 

The Muslim audience represents a huge opportunity for consumer brands. It skews young with large amounts of disposable income, particularly in Muslim population centers like the Middle East. There are particular business opportunities in markets that cater specifically to Muslims, namely halal foods. 

Muslims eat halal foods in line with their religious beliefs. These foods — specifically meats — have been raised, slaughtered, and prepared in line with Muslim religious doctrine. The global halal food and beverage market is expected to reach $739.59 billion by 2025, with halal meats making up the largest segment of that market. 

GoMeat Services is addressing this market. GoMeat offers Halal grocery stores an easy way to take meat orders and deliver meat to customers, modernizing their capabilities to match those of restaurants on DoorDash, UberEats, and more. For consumers, GoMeat offers the ability to order meat from a local halal shop and receive a delivery (or pick up the order) on the same day, unprecedented convenience from stores that are often local and family-run. 

GoMeat Services’ current StartEngine raise has been rated a Neutral Deal by the KingsCrowd investment team. 


GoMeat Services is offering equity at a $9 million valuation. This price is relatively high given the company’s current revenues (roughly $263,000 in 2020) and the niche market that it serves. On the other hand, GoMeat has already made solid progress in serving this niche market, and the company has a proprietary software product (similar to leading apps like DoorDash and UberEats). Taking all of this together, GoMeat Services’ price rating is below average.


The market for halal foods is large and growing. The global market is expected to hit over $739 billion by 2025, driven in large part by the growing worldwide population of Muslims. By 2060, statisticians believe that more than three in ten people in the world will be Muslim. As a result, almost a third of the world’s population will need access to halal foods within the next several decades. 

The size and growth pace of this market is a good sign for GoMeat Services. On the other hand, the company is not directly providing halal foods to the growing Muslim population. GoMeat requires partnerships with halal shops to make money. This market is much more difficult to reach, given that these stores are often quite traditional and difficult to sell to. Therefore, investors can’t draw a straight line between the growth in the halal foods market and the market potential for GoMeat specifically. For this reason, GoMeat’s market rating is low.


GoMeat Services has five co-founders. It appears that two of the co-founders — who are listed as the CEO and Secretary of the company — spend roughly 20 hours per week on the business. The other three co-founders seem to be only advisors, not active participants in day-to-day operations. 

CEO Waqas Siddiqi has more than 20 years of experience in information technology and product management. He currently works for SAP America, where he has been employed for more than 10 years. These days, he serves as a Delivery Executive for SAP America. GoMeat Secretary Syed Hamed Quadri has a similar background in IT and product management. He is also currently employed by SAP as a Project Manager/Program Manager. 

In addition to the two active co-founders and three less active co-founders, the GoMeat team includes 12 professionals who are listed as “full-time contractors” in GoMeat’s raise materials. These team members focus on everything from operations and finance to graphic design and customer service. 

The GoMeat team is quite large — particularly for the company’s current revenues — and encompasses a wide variety of skill sets. The team also appears to be in close touch with their target market and has clearly succeeded at forging relationships with halal stores around the U.S. Therefore, GoMeat’s team score is its highest. 


One of the main risks that investors should consider is GoMeat’s lack of differentiation relative to the landscape of food delivery apps. DoorDash, UberEats, Postmates, and a handful of other companies have thoroughly cornered the food delivery market, particularly after COVID-19 forced many restaurants and shops to make a hasty transition to delivery tech. 

GoMeat obviously focuses solely on halal shops, but there’s no clear reason why those shops couldn’t use a leading delivery company instead of GoMeat. Leading apps have a larger user base, more efficient delivery network, and greater ability to pivot and adapt than GoMeat may ever have. Therefore, GoMeat’s differentiation score is below average.


GoMeat Services has grown rapidly since its founding in 2018. That year, the company only generated $2,000 in revenue and posted a net loss of almost $70,000. In 2019, revenues increased significantly to almost $90,000 — though the company was deeply unprofitable, losing almost $150,000. Formal financial data is only available through 2019. However, the company discloses in its raise materials that revenues from January through September 2020 topped $260,000, almost 300% growth from 2019. 

These impressive financial results come from a relatively small user base. The GoMeat app has 8,000 downloads, though only 4,500 of those are customers who place orders from 150 stores currently live in the marketplace. 

GoMeat’s revenue growth is impressive. However, the company posted a large net loss in 2019 and doesn’t share 2020 financials for investors to assess whether profitability improved in 2020. These outstanding questions mean that GoMeat’s performance rating is only middle-of-the-road.

Bearish Outlook

GoMeat is competing directly against companies that no one wants to compete with: UberEats, DoorDash, and Postmates. While GoMeat has made meaningful strides toward capturing the halal market, there’s no definite reason why a halal store would list on GoMeat rather than a leading delivery tech app. Theoretically, stores would benefit from the leading apps’ built-in, massive user bases and efficient delivery networks. 

Notably, GoMeat doesn’t directly address this tension in its raise materials. GoMeat seems to imply that halal stores and restaurants would prefer to work with a halal-only delivery company — but doesn’t provide any evidence to back up this claim. In fact, GoMeat doesn’t provide any data on client retention or shop/restaurant satisfaction, which would be key to evaluating GoMeat’s likelihood of success in competing with leading companies. It’s too difficult for investors to understand how GoMeat intends to scale given UberEats and others’ firm ownership over this space.

Bullish Outlook

A bullish outlook on GoMeat requires belief in the assumption that halal shops and restaurants would prefer to work with a halal-only company — and prefer it so significantly that they would choose GoMeat over UberEats and the like. If this assumption is to be believed, GoMeat has tremendous potential. GoMeat is addressing a rapidly-growing market that has been historically underserved by technology, which is often a strong signal of success.

The Muslim population is growing rapidly worldwide, and they require convenient delivery from halal shops and restaurants. Many of these restaurants are small businesses relying on antiquated methods of serving customers (phone call orders, in-person payments, etc.). Both consumers and shops can benefit from a streamlined delivery service connecting Muslim customers with halal shops, and GoMeat has already made strides toward capturing that market. 

Executive Summary

GoMeat Services is an online food ordering app catered specifically toward halal shops and restaurants. Consumers can place orders online for halal foods and either pick up their order or get it delivered on the same day. GoMeat has partnered with 150 halal shops nationwide and generated more than $250,000 in revenue in 2020 (over 300% year-over-year growth from 2019). 

On the other hand, it’s not yet clear how GoMeat can succeed alongside the presence of UberEats, DoorDash, and other major delivery players that have massive user bases and proven delivery networks. Given this challenge, it’s not promising that the company’s founders don’t work full-time on the business and that the company’s valuation is quite high. Therefore, GoMeat Services has been rated a Neutral Deal. 

For questions regarding the KingsCrowd staff pick or ratings for this company, please reach out to support@kingscrowd.com

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GoMeat Services on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $9,000,000

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