Just Eat Takeaway sells Grubhub for $650 million, just 3 years after buying the app for $7.3 billion NEW YORK (AP) — European food delivery giant Just Eat Takeaway.com is selling Grubhub for $650 million, a fraction of the billions it spent to buy the U.S. platform just three years ago. Wonder…

After four years abroad, Grubhub is coming back home. Netherlands-based Just Eat Takeaway will sell the food delivery service to billionaire entrepreneur Marc Lore’s restaurant startup Wonder in a deal worth $650 million. Just like the lukewarm food it sometimes delivers, Grubhub’s performance in…

The food delivery app Wonder Wednesday announced it has bought Grubhub in a $650 million dollar combination debt and cash deal.

The food delivery app Wonder Wednesday announced it has bought Grubhub in a $650 million dollar combination debt and cash deal.

A startup called Wonder is now the new owner of Grubhub. The food delivery app announced its acceptance of the deal on its website earlier today.

Wonder acquired Grubhub from the Dutch food company Just Eat Takeaway for $650 million. Pending regulatory approval, the deal will close early next year. Wonder also announced it has raised an additional $250 million in venture capital funding “to further its mission and growth.”

Chicago software engineers Matt Maloney and Mike Evens founded Grubhub in 2004 as an online restaurant ordering service and an alternative to those paper menus that showed up on doorsteps and in junk mailings. The company merged with the automated food ordering and delivery company Seamless in 2013. Just Eat Takeaway bought Grubhub in 2020 for $7.3 billion at the height of the COVID-19 pandemic.

The numbers for restaurant delivery apps started to drop once the pandemic became part of history and people started going out again. Legal troubles started in 2021 when Chicago took Grubhub and some of its competitors to court for alleged unfair business practices and fees. Companies like DoorDash eventually settled but Grubhub’s legal battle with Chicago is still raging in court, according to the Chicago Business Journal.

The District of Columbia won a similar lawsuit against Grubhub in 2021 that ended with a $3.5 million settlement. The following year, Grubhub announced it would lay off 15 percent of its corporate staff.

Wonder is a new fooddelivery company started by Marc Lore, a former Walmart executive who owns two professional basketball teams. Lowe previously founded Diapers.com and Jet.com. The New York Times published a profile on Lore and his newest venture Wonder, which he said “could be the Amazon of food and beverage.”

Wonder’s original focus was to get “its own restaurants up and running” and create a delivery service that offers “cheaper, quicker build-outs.” Maybe that’s because third-party food delivery services like Grubhub, DoorDash and Uber have seen their prices jump in the last couple of years, according to CNBC.

Just in New York City, food delivery prices increased by 58 percent in just under a year, according to Bloomberg. A new law that went into effect at the end of last year raised the minimum wage for New York delivery drivers to $17.96 an hour. The New York City Department of Consumer and Worker Protection reported that food delivery workers saw their wages increase by 64 percent and their tips decreased by 60 percent in just eight months.

Amazon and Grubhub today announced they are partnering to make restaurant delivery to customers’ doors more convenient and affordable.

Europe's biggest meal delivery firm Just Eat Takeaway said on Wednesday it struck a deal to sell its U.S. unit Grubhub to Wonder for $650 million.

The European company had acquired Grubhub in 2020 in an all-stock deal for $7.8 billion, creating the world’s largest food delivery company outside China at the time. A deal for Grubhub could be finalized imminently, assuming the talks do not fall apart, the report said, adding that Grubhub is…

In This Article: (Reuters) - Europe's biggest meal delivery firm Just Eat Takeaway said on Wednesday it struck a deal to sell its U.S. unit Grubhub to Wonder for $650 million. (Reporting by Michal Aleksandrowicz; Editing by Muralikumar Anantharaman)

Netherlands-based Just Eat Takeaway announced today that it is selling Grubhub to Wonder in a deal valued at $650 million. The company said that it expects the deal to be completed by Q1 2025. “The sale of Grubhub to Wonder will increase the cash generation capabilities of Just Eat Takeaway.com…

In This Article: (Bloomberg) -- Wonder Group Inc. is buying Grubhub from Just Eat Takeaway.com NV for about $650 million, acquiring the restaurant delivery service at a steep discount to the $7.3 billion price tag it commanded during the early days of the Covid pandemic. Most Read from…

BuzzFeed News: Grubhub Collected Record Fees From Restaurants Struggling To Stay Alive During The Pandemic. “Restaurant owners have long complained that fees charged by ordering platforms like Grubhub, often ranging from 15% to 30%, make orders less profitable, and sometimes unprofitable — but businesses have no choice but to use them if they want to … Continue reading BuzzFeed News: Grubhub Collected Record Fees From Restaurants Struggling To Stay Alive During The Pandemic

Grubhub Inc. (GRUB) shares are sliding more than 6% in Thursday's morning trade.

Check out the companies making headlines in midday trading.

Giuseppe Badalamenti, the owner of Chicago Pizza Boss, posted his March Grubhub earnings statement on Facebook, and it showed that the delivery platform took around 70% of its $1000 earnings through the platform."Stop believing you are supporting your community by ordering from a 3rd party delivery company," Badalamenti wrote on Facebook."Restaurant owners select the services they want and only pay a commission to Grubhub when we help generate sales," a Grubhub spokesperson told Business Insider. Grubhub, which is part of the same company as Seamless, has come under fire for asking users to oppose San Francisco's order to slash its commission fees for restaurants from an average of 30% to 15%.Visit Business Insider's homepage for more stories.Grubhub claims to be helping local restaurants.

Mark Lennihan/AP ImagesThird-party delivery services are often seen by restaurant owners as a necessary evil.Third-party delivery platforms like Grubhub and Doordash claim to be helping restaurants through the pandemic, but restaurant owners say they're doing the opposite.Most delivery platforms charge restaurants a roughly 30% commission on every order, and restaurant owners say platforms have been slow to offer support and even pay what they owe.On Monday, Doordash announced it would slash fees by 50% through the end of May, but Grubhub is fighting a similar order in San Francisco.Business Insider spoke to restaurant data and marketing entrepreneur Abhinav Kapur, who said, "If there was ever a time to prove that you were a partner to the industry, now it would be the time to do it."Visit

The food delivery services are being sued in a class action lawsuit filed Monday in Manhattan for levying heavy commission fees on restaurants that lead to higher menu prices.