Wonder Group, a New York-based food ordering company that touts 'fast fine' dining, is set to be Grubhub's new owner.
European food delivery giant Just Eat Takeaway.com is selling Chicago -based Grubhub for $650 million, a fraction of the billions it spent to buy the U.S. platform just three years ago.Wonder Group, a New York-based food ordering company that touts 'fast fine' dining, is set to be Grubhub 's new owner. Under terms of the deal, announced Wednesday, Wonder will acquire Grubhub from Just Eat Takeaway.com for $150 million in cash and $500 million in senior notes.
Shares of the company were up over 15% by midday Wednesday.The CEOs of Wonder and Grubhub, Marc Lore and Howard Migdal, also sounded positive notes Wednesday â with both noting that the deal would aid Wonder's mission to 'make great food more accessible' and enhance customer experiences.Wonder, founded by Lore, bills itself as a 'new kind of food hall' and delivers made-to-order meals from well-known chefs and restaurants.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Just Eat Takeaway sells US unit Grubhub for $650 millionJust Eat Takeaway sells US unit Grubhub for $650 million
Read more »
AI startup CoreWeave closes $650 million secondary share sale, with Cisco joining as investorCisco and Pure Storage have backed CoreWeave, which is taking on Amazon in supplying cloud-based Nvidia graphics cards to companies for artificial intelligence.
Read more »
Alexander McQueen leather tote, normally $650, on sale for $124DYW has a MCQ By Alexander McQueen Logo Leather Tote Bag for $123.74.
Read more »
U.K.’s $650 Million Plan To Fix Potholes ‘Won’t Touch The Sides,’ Say CriticsCarlton Reid has been writing about sustainability and transport for more than 30 years. He also writes for The Guardian, Daily Mail and Wired.com. He was Press Gazette’s Transport Journalist of the Year 2018. His most recent books include Roads Were Not Built for Cars and Bike Boom, both published by Island Press, Washington, D.C.
Read more »
Grubhub reportedly in talks to be acquired by Marc Lore's Wonder startupGrubhub is likely to be valued below $1 billion in any deal, The Wall Street Journal reported.
Read more »
Just Eat is selling Grubhub to Marc Lore’s Wonder for $650MWonder is buying Grubhub from Just Eat to make a food ordering “super app” that includes multiple restaurants, meal kits, and groceries.
Read more »