Just Eat Takeaway Finds a New Home for Grubhub with Wonder: A $650M Deal
After a lengthy search, Just Eat Takeaway.com has finally sealed the deal on selling Grubhub to Wonder, a food startup helmed by e-commerce guru Marc Lore. Although the enterprise value of the sale stands at $650 million, Grubhub comes saddled with a hefty $500 million debt, leaving Just Eat Takeaway with a meager $50 million in the end. This move reflects the industry trend of streamlining for profitability after years of lofty growth expectations.
Wonder, led by the accomplished Lore, aims to leverage Grubhub’s national reach to fuel its expansion ambitions and potentially go public at a $40 billion valuation in the future. The challenge lies in turning around Grubhub’s financial woes, but with Lore’s track record of success, the industry eagerly awaits the outcome of this strategic acquisition.