GrubHub is selling for $650 million after being bought in 2020 for $7.3 B by East Takeaway.com.
(StLouisRestaurantReview) GrubHub is selling for $650M to Wonder, founded by entrepreneur Marc Lore. The company announced the deal on Wednesday, November 13, 2024.
Wonder will offer restaurants, meal kits, and groceries on a single app.
The deal includes $500 million in senior notes, $150 million in cash, and $250 million from investors.
GrubHub is owned by Just Eat Takeaway.com, which bought GrubHub for $7.3 billion in 2020 and has been looking to sell it for years, according to the Restaurant Business Online article.
GrubHub serves over 375,000 businesses listed on its app and has 200,000 delivery personnel across the US. In terms of market share, it fell behind DoorDash and Uber Eats.
According to RestaurantBusinessOnline.com, the deal is expected to close in the first quarter of 2025.
USPress.News covered this story as well.
