Just Eat Takeaway.com is selling Grubhub for $650 million. Wonder Group will acquire Grubhub with $150 million cash and $500 million in notes. The sale price significantly dropped from Grubhub's $7.3 billion acquisition cost. Grubhub generated 237 million orders worth $8.53 billion last year. Grubhub holds only 8% of U.S. meal delivery market, lagging behind competitors.
Just Eat Takeaway.com sells Grubhub for $650 million. Wonder Group is set to acquire Grubhub, boosting its cash generation. Grubhub generated 237 million orders worth $8.53 billion last year. Grubhub holds only 8% of U.S. meal delivery market share. Competition with DoorDash and Uber Eats impacts Grubhub's sales.
- Starbucks and Grubhub partnership to offer delivery services starting June, nationwide by August. - Aim to enhance convenience for customers and increase sales through expanded reach. - Grubhub stock may see positive impact from partnership, potential increase in revenue for Starbucks. Price Impact Rating: bullish Impact Horizon Rating: short-term Type: Corporate Developments