Just Eat Takeaway.com is selling its US-based Grubhub to Wonder for $650 million due to growing tensions with competitors like Uber Eats and DoorDash, coupled with a decline in customers due to increased living costs and inflation.
The big picture: Wonder, founded by former Walmart executive Marc Lore in 2018, has agreed to pay $150 million in cash and take on $500 million in Grubhub debt.
- The transaction is expected to be completed in the first quarter of 2025.
- This acquisition marks Wonder’s second, following its acquisition of the struggling meal delivery service Blue Apron for $103 million in 2023.
