European food delivery company Just Eat Takeaway.com has sold its U.S.-based platform Grubhub to Wonder Group for $650 million, far below the $7.3 billion it paid to acquire the app in 2021. The sale reflects intense competition in the U.S. food delivery market, where Grubhub’s market share needs to catch up to leaders DoorDash and Uber Eats. Wonder Group, a New York-based food service company, plans to leverage Grubhub’s infrastructure to expand its offerings to enhance customer experiences and accessibility to high-quality dining.
Just Eat Takeaway Sells Grubhub For $650 Million, Just 3 Years After Buying the App for $7.3 Billion
