Reported 11 days ago
Just Eat Takeaway.com has sold Grubhub to Wonder Group Inc. for around $650 million, a significant drop from its peak valuation of $7.3 billion during the Covid pandemic. The deal is expected to close by early 2025 and is projected to boost Just Eat's cash flow and reduce its debt by $500 million. This move comes after Just Eat's struggles in a competitive market, following their acquisition of Grubhub in 2021.
Source: YAHOO