Reported 11 days ago
Just Eat Takeaway has announced the sale of its U.S. subsidiary Grubhub to food-delivery startup Wonder for $650 million, a significant loss compared to the $7.3 billion they paid in 2020. This move, aimed at boosting their finances and focusing on stronger markets in Europe, has led to a 20% surge in their shares. The company plans to use proceeds to enhance investments in more profitable regions, although they may need to exit other markets to align with European competitors.
Source: YAHOO