( ) -q-22- UNDATED (Correspondent Jeremy House) “Grubhub’s last sale.” 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. [CutID: <Cuts> GRUBHUB-SALE-house-q-THUam.mp3 Time: 22s Title: GRUBHUB-SALE-house-q-THUam Out-cue: Grubhub’s last sale] TAG: Correspondent Jeremy House reporting. […]
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Just Eat Takeaway sells Grubhub for $650 million, just 3 years after buying the app for $7.3 billion
( ) -q-22- UNDATED (Correspondent Jeremy House) “Grubhub’s last sale.”
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.
[CutID: <Cuts> GRUBHUB-SALE-house-q-THUam.mp3
Time: 22s
Title: GRUBHUB-SALE-house-q-THUam
Out-cue: Grubhub’s last sale]
TAG: Correspondent Jeremy House reporting. Back in 2020, during the early days of the COVID-19 pandemic and a surge in demand for takeout meals, Just Eat agreed to buy Grubhub for $7.3 billion — in a transaction that was later finalized in 2021.
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VERBATIM: Wonder Group, a New York-based food ordering company that touts “fast fine” dining, is set to be Grubhub’s new owner. Under terms of the deal, Wonder will acquire Grubhub from Just Eat Takeaway.com for $150 million in cash and $500 million in senior notes. That’s far less than than the pricetag on Grubhub’s last sale.