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Wonder is acquiring Grubhub

about.grubhub.com

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Re: Wonder is acquiring Grubhub

#71

Post by Retric »

JumpCrisscross wrote: post #66
Retric wrote: post #12

Earlier quoted context omitted.

Earlier investors. Ever hear of pump and dump ? After you sell you’re insulated from future performance as long as you don’t commit actual fraud etc.

> Earlier investors. Ever hear of pump and dump? When did GrubHub buy early investors' shares with company cash?

Early investors had already “sold” the company well before this transaction: https://about.grubhub.com/news/grubhub-stockholders-approve-...

It was an all stock transaction, so they maintained an indirect stake but it was significantly diluted: https://en.wikipedia.org/wiki/Just_Eat_Takeaway.com Meanwhile Just Eat Takeaway investors got taken for a ride.

Re: Wonder is acquiring Grubhub

#72

Post by jancsika »

thfuran wrote: post #52
longtimelistnr wrote: post #40

Ghost kitchens are the biggest scam in the food delivery world. why would anyone pay for an unsanitary kitchen to fry them up some frozen food?

Many normal restaurants do a lot of heating up pre-prepared food as well.

1990s app buzz: discover and distribute music 100,000% more efficiently than brick and mortar!

2020s app buzz: eat food at least as expensive as brick-and-mortar that is no worse in quality!

Re: Wonder is acquiring Grubhub

#73

Post by standardUser »

crmd wrote: post #15

Support your local restaurants. Don’t let these vampire platform companies enshitify your city’s food scene.

Or just order from local restaurants using GrubHub. Most mark up their menu prices to absorb the hit they take from working with GrubHub and similar services. Some will encourage you to order directly or through a different 3rd party by including a flier with the delivery order. But many others only offer delivery through 3rd parties like GrubHub.

Re: Wonder is acquiring Grubhub

#74

Post by nilamo »

pie420 wrote: post #43
fragmede wrote: post #31

Earlier quoted context omitted.

Which is an empty platitude if restaurants won't meet customers where they are - on their smartphones. I'll use my local restaurants' app/webpage when there is one and get pick-up, but if there isn't one, I'll be real - I just use Doordash. When I've got people over and need to order food, it'll take 45 mins between everything else going on to figure out a restaurant, and then another hour to pick some food. And then…

[flagged]

The whole comment was about how hard it is to wrangle 10+ people. How is that digital, or not real life? It's literally a group of people spending time together face to face.

Re: Wonder is acquiring Grubhub

#75

Post by bena »

fragmede wrote: post #31
crmd wrote: post #15

Support your local restaurants. Don’t let these vampire platform companies enshitify your city’s food scene.

Which is an empty platitude if restaurants won't meet customers where they are - on their smartphones. I'll use my local restaurants' app/webpage when there is one and get pick-up, but if there isn't one, I'll be real - I just use Doordash. When I've got people over and need to order food, it'll take 45 mins between everything else going on to figure out a restaurant, and then another hour to pick some food. And then…

This really seems like exaggeration. Two hours? How many people are we talking about here?

Also, nothing you've mentioned really solves your issues. Even with DoorDash, you'll need to pick a restaurant. And DoorDash doesn't solve the problem of someone changing their mind as they are ordering.

And then you still have to wait for the food to be prepared and delivered. And there's no guarantee on when it will arrive. So it winds up being a wash.

Also, there's a reason places that don't do delivery don't do it. The cost doesn't justify it. Then there's the whole "meet me where I am" attitude. They're the ones with the service you want. You have some obligation to meet them yourself.

And if you don't want to, that's fine. We used to manage all of this well enough before

Re: Wonder is acquiring Grubhub

#76

Post by xyst »

Yet another company propped up by private equity. Wonder Group raised $700M during a funding round in March 2024, with a total of $1.5B raised overall [1]

How long until it succumbs to the same fate as other PE funded companies (Foxtrot)? Then the people left holding the bag are the vendors that won’t get paid. Employees don’t get paid. Doors locked up one day with no reason.

Love how it has all of these celebrity endorsements as well to keep the facade going.

At the end of the day, it’s a glorified ghost kitchen.

[1] https://www.inc.com/rebecca-deczynski/wonder-marc-lores-fast...

Re: Wonder is acquiring Grubhub

#78

Post by zemo »

JumpCrisscross wrote: post #68
kelnos wrote: post #50

Earlier quoted context omitted.

Both companies are private, so neither has a "market cap". They just need to agree on a price. In this case, GrubHub had taken on a bunch of debt; Wonder agreed to assume it, and GrubHub's owners/investors get $150M in cash.

> Both companies are private, so neither has a "market cap" Private companies have shares. Given a per-share price, you can get a market cap. For a company with debt, like GrubHub, enterprise value is a better metric.

> Given a per-share price

how do you know the per-share price

Re: Wonder is acquiring Grubhub

#79

Post by xyst »

bsimpson wrote: post #3

Those weird ghost kitchen things have more than half a billion dollars to spend on acquisitions?! I wonder how this came to be - did they already have that big of a war chest, or did they hear they could buy a name brand and go back to their investors to finance it?

They don’t have jack shit. It’s all based on hype, keep the train rolling so the early investors can get their cut while the other suckers hold the bag

Re: Wonder is acquiring Grubhub

#80

Post by hinkley »

afavour wrote: post #60

Silly money, behaving stupidly. I feel for the restaurant owners: not only were they forced into accepting the likes of Grubhub as a middle man, that same middleman now also owns restaurants that compete directly with them. If the restaurants have any power at all they should stop using Grubhub right now. I don’t know anyone still using it (which is crazy, Seamless used to dominate NYC). I sincerely hope the entire t…

Delivery should be done as a coop between local businesses. Always should have been that way.
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