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Grubhub's Value Plummets: Sold for $650M After $7.3B Purchase
business1 year ago

Grubhub's Value Plummets: Sold for $650M After $7.3B Purchase

Just Eat Takeaway has sold its U.S. unit, Grubhub, to the food-delivery startup Wonder for $650 million, a significant drop from the $7.3 billion it paid in 2020. The sale, which includes $500 million in senior notes and $150 million in cash, comes after challenges such as slowing growth and regulatory issues. This move ends Just Eat Takeaway's troubled venture in the U.S. market, which resulted in a substantial loss of shareholder value.

via Slashdot|
#acquisition#business#food-delivery
Grubhub Acquired by Wonder for $650M, Marking 90% Value Drop
business1 year ago

Grubhub Acquired by Wonder for $650M, Marking 90% Value Drop

Just Eat Takeaway has sold Grubhub to the food delivery startup Wonder for $650 million, a significant loss from the $7.3 billion it paid in 2021. The sale aims to boost Just Eat's cash generation and growth, while Wonder plans to integrate Grubhub's restaurant partners into its app. The deal reflects the challenges faced by food delivery platforms post-pandemic, as consumer demand shifts and competition intensifies.

via PYMNTS.com|
#acquisition#business#food-delivery
Ex-Walmart Exec's Startup Acquires Grubhub for $650M
business1 year ago

Ex-Walmart Exec's Startup Acquires Grubhub for $650M

New York-based startup Wonder is acquiring Chicago-based Grubhub for $650 million, a significant drop from the $7.3 billion Just Eat Takeaway paid in 2021. The sale, expected to close in early 2025, includes $500 million in senior notes and $150 million in cash. Grubhub has faced increased competition from Uber Eats and DoorDash, as well as restaurants managing their own deliveries. The acquisition aims to enhance Wonder's food delivery services, though the impact on Grubhub's Chicago operations remains unclear.

via Chicago Sun-Times|
#acquisition#business#food-delivery
Just Eat Takeaway Sells Grubhub at Massive Loss to Former Walmart Exec's Startup
business1 year ago

Just Eat Takeaway Sells Grubhub at Massive Loss to Former Walmart Exec's Startup

Just Eat Takeaway.com is selling Grubhub to Wonder Group for $650 million, significantly less than the $7.3 billion it paid in 2020. The deal includes $150 million in cash and $500 million in senior notes, and is expected to close in early 2025. Just Eat Takeaway.com aims to focus on markets where it has a competitive advantage, while Wonder Group plans to enhance its food delivery services. The sale is seen as a strategic move to boost growth and cash generation for Just Eat Takeaway.com.

via Yahoo Finance|
#acquisition#business#fooddelivery
Grubhub Sold to Wonder for $650M, Marking Major Valuation Drop
business1 year ago

Grubhub Sold to Wonder for $650M, Marking Major Valuation Drop

Just Eat is selling Grubhub to Marc Lore's Wonder for $650 million, with the deal expected to close in early 2025 pending regulatory approval. Wonder, known for its food hall delivery service, plans to integrate Grubhub into its platform, creating a "super app" for meals that includes restaurant partners, groceries, and meal kits. Just Eat had originally purchased Grubhub for over $7 billion in 2021.

via The Verge|
#acquisition#business#grubhub
Grubhub Sold to Wonder for $650M, a Fraction of Its Former Value
business1 year ago

Grubhub Sold to Wonder for $650M, a Fraction of Its Former Value

Just Eat Takeaway has agreed to sell its U.S. unit, Grubhub, to the food-delivery startup Wonder for $650 million, significantly less than the $7.3 billion it paid in 2020. The sale, which includes $500 million in senior notes and $150 million in cash, comes as Just Eat seeks to exit the U.S. market due to challenges like slowing growth and fee caps. The deal is expected to close in early 2025, and Just Eat's shares rose 20% following the announcement.

via CNN|
#acquisition#business#food-delivery
Grubhub Sold to Wonder Group for $650M, Marking $6.5B Loss
business1 year ago

Grubhub Sold to Wonder Group for $650M, Marking $6.5B Loss

Just Eat Takeaway is selling its US arm, Grubhub, to Wonder for $650 million, marking a significant loss from its $7.3 billion purchase in 2020. The sale comes as Just Eat faces declining demand post-pandemic and increased competition. The deal, expected to close in early 2025, aims to enhance Just Eat's cash flow and growth, while Wonder plans to integrate Grubhub into its vision of a 'super app' for food delivery.

via The Guardian|
#business#business-sale#food-delivery
Wonder Acquires Grubhub from Just Eat Takeaway for $650M
business1 year ago

Wonder Acquires Grubhub from Just Eat Takeaway for $650M

Just Eat Takeaway is selling its U.S. business, Grubhub, to Wonder Group for $650 million, significantly less than the $7.3 billion it paid four years ago. The sale, expected to close in early 2025, comes as the food delivery sector faces profitability challenges post-pandemic. Wonder will assume $500 million of Grubhub's debt and aims to integrate Grubhub's services into its own app to create a 'super app' for food delivery. This move allows Just Eat Takeaway to focus on more profitable markets.

via TechCrunch|
#acquisition#business#fooddelivery
Wonder Startup Nears $650M Acquisition of Grubhub
business1 year ago

Wonder Startup Nears $650M Acquisition of Grubhub

Wonder, a food-delivery startup led by former Walmart executive Marc Lore, is reportedly in advanced talks to acquire Grubhub from Just Eat Takeaway.com. The European company had purchased Grubhub in 2020 for $7.8 billion, but the current deal is expected to value Grubhub at less than $1 billion. This acquisition could enhance Wonder's revenue and provide access to delivery drivers and technology. Neither Grubhub, Just Eat Takeaway, nor Wonder have commented on the potential deal.

via New York Post |
#acquisition#business#grubhub
Starbucks and Grubhub Join Forces for Coffee Delivery
business1 year ago

Starbucks and Grubhub Join Forces for Coffee Delivery

Starbucks is partnering with Grubhub to expand its delivery services nationwide by August, following a challenging quarter with declining sales. This move aims to capitalize on the growing demand for delivery, which has seen double-digit growth. The coffee chain already offers delivery through DoorDash and Uber Eats and is also updating its app, introducing new menu items, and testing overnight hours to boost sales.

via CNN|
#business#delivery#grubhub
Starbucks Partners with Grubhub for Coffee Delivery Service
business1 year ago

Starbucks Partners with Grubhub for Coffee Delivery Service

Starbucks is partnering with Grubhub to boost sales by offering delivery services in select markets starting next month. This move aims to capitalize on the growing demand for delivery and follows a disappointing fiscal quarter. The partnership is expected to increase Starbucks' availability to Grubhub's large customer base and help Grubhub build loyalty to its app. Former CEO Howard Schultz has emphasized the need for a strategic overhaul of Starbucks' U.S. operations.

via Fox Business|
#business#delivery-services#grubhub
"Amazon Prime Adds Free Grubhub+ Subscription Perks"
technology1 year ago

"Amazon Prime Adds Free Grubhub+ Subscription Perks"

Amazon Prime members now have permanent access to a free Grubhub+ subscription, offering benefits like free delivery on eligible orders, lower service fees, and exclusive deals. To activate, members must visit www.amazon.com/grubhub and follow the prompts. This upgrade eliminates the previous one-year limit, providing ongoing savings and convenience for Prime members.

via Lifehacker|
#amazon-prime#benefits#free-delivery