After looking for a buyer for More than two yearsJust Eat Takeaway.com has finally closed its menu on Grubhub. The Dutch food delivery giant said this on Tuesday Completed sale of US business to WonderThe food startup is founded and led by e-commerce veteran Mark Lore. The deal has an enterprise value of $650 million, but Grubhub is bringing in $500 million in debt. Adding in other M&A fees, Just Eat Takeaway would walk away with just $50 million, a tiny fraction of Grubhub's $7.3 billion valuation when Just Eat Takeaway gobbled it up. All-share deal in 2020.
The sale, which was first announced November 2024Underscores ongoing downsizing — or right sizing? — Focusing more on profitability after years of overinvestment in the industry and unrealistic growth targets. Just Eat Takeaway says it will focus on “investing in countries where it has the greatest competitive advantage”.
As for Wonder, Lor is somewhat of a legend in the world of e-commerce, having founded and sold companies before. Amazon and Walmart. Wonder has raised about $1.7 billion and has ambitions Go public in the coming years at a $40 billion valuationBut that would mean the business would grow far beyond what it is today, Lore said. Grubhub gives it a national footprint — though it has been dealing with heavy debt for some time. The challenge will be whether Wonder eventually manages to turn it around.