Big Companies Want to Eat GrubHub’s Lunch

Several of the reasons Barclays downgraded online food delivery company GrubHub Tuesday—a move that contributed to a more-than 3% decline—had to do with valuation and near-term performance, but there was a big-picture question, too: Competition from the likes of Amazon.com and privately held Uber.

The downgrade, Barclays wrote, “doesn’t call for meaningful downside to the share price,” and “we like GRUB’s long-term opportunity in the food delivery space.”

But the chart it supplied, shared below, nevertheless illustrates some obvious challenges for GrubHub , comparing its downloads—and related ones, since the company also owns Eat24 and Seamless, among other services—to those of Uber Eats and Amazon Prime Now.

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