Wonder acquires Grubhub
Wonder, which bills itself as a new kind of food hall, is acquiring Grubhub, a food ordering and delivery platform with more than 375,000 merchants and 200,000 delivery partners across the United States.
Integrating Grubhub with Wonder is the next step in Wonder's mission to make great food more accessible, , the company said. Additionally, all Wonder locations will be available on Grubhub for third-party delivery.
Wonder is acquiring Grubhub from Just Eat Takeaway.com for an enterprise value of $650 million, including $500 million of senior notes and $150 million cash. Completion is expected during Q1 2025, subject to customary closing conditions including regulatory approvals.
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Wonder also announced an additional $250 million in capital raised exclusively from new investors to further its mission and growth.
Founded by entrepreneur Marc Lore, Wonder is making food more accessible while pioneering a new category of "Fast Fine" dining. Wonder offers somethng called "multi-restaurant ordering," where customers can order from 30+ restaurants in a single order. Each item is made-to-order in a sequenced fashion so that they finish simultaneously and can be delivered to the customer together, the company said.
"Wonder's acquisition of Grubhub continues our mission to make great food more accessible," Lore said. "As we enhance our customer experience with selection, speed and variety, we're excited to soon offer a curated selection of Grubhub's restaurant partners directly in the Wonder app, alongside our owned and operated restaurants and meal kits. Bringing Wonder and Grubhub together is the next step in our vision to create the super app for meal time, re-envisioning the future of food delivery."
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"I am incredibly excited for Grubhub to join forces with Wonder and bring more value to our diners, merchants and delivery partners," said Howard Migdal, Grubhub CEO. "Since our earliest days, Grubhub has helped restaurants open their doors to new customers, while introducing diners to new cuisines. That's why I'm confident that Grubhub will complement Wonder's mission to make great food more accessible and that together we will create remarkable dining experiences for more customers across the country."