Conestoga Capital Advisors, an asset management company, released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. For the second consecutive year, U.S. equity indices ended the year with double-digit returns after generating modest returns in the fourth quarter of 2024. Conestoga’s investment plans were hindered by the enthusiasm for everything artificial …
Category Archives: Capital
DoorDash tops quarterly revenue estimates on strong online orders during holidays
By Ananya Mariam Rajesh (Reuters) -DoorDash topped analysts’ estimate for quarterly revenue and total orders on Tuesday, as customers turned to its online platform to buy everything from food and groceries to alcohol during the holiday season. Shares of the company rose nearly 7% in extended trading, after it also decided to buy back shares …
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EatStreet Files for Chapter 11 Bankruptcy
EatStreet, Inc., a Wisconsin-based food delivery service, filed for Chapter 11 bankruptcy on October 11, 2024, in the United States Bankruptcy Court for the Western District of Wisconsin (Case No. 24-12061). The filing was voluntary and aimed at restructuring the company’s debts and financial obligations under Chapter 11 bankruptcy laws. EatStreet’s assets and liabilities are both …
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DoorDash Hits First Operating Profit Since 2020, Shares Rise
DoorDash Inc. shares climbed on Thursday after the delivery service beat Wall Street’s expectations on virtually every key earnings metric, allowing it to post the first operating profit since the start of the pandemic. The San Francisco-based company generated $107 million in operating income, it said in a statement Wednesday, more than double the …
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The restaurant tech market is heating up again
The restaurant technology market is hitting its stride to close out 2024. Publicly traded restaurant tech stocks are rising, and there’s been a steady stream of acquisitions and funding rounds. The activity reflects restaurants’ growing appetite for new technology: More than three-fourths said they expected to increase their tech spending this year, according to an …
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Wonder completes acquisition of Grubhub for $650M
Grubhub officially has a new owner. Wonder, the New York-based food hall/delivery chain, completed its acquisition of the third-party delivery company Tuesday for $650 million. The seller was Just Eat Takeaway.com, the European delivery conglomerate that bought Grubhub in 2021 for $7.3 billion. It had been trying to sell all or part of Grubhub for …
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Just Eat Takeaway completes Grubhub sale to Wonder for a modest $650M
After looking for a buyer for more than two years, Just Eat Takeaway.com has finally closed the menu on Grubhub. On Tuesday, the Dutch food delivery giant said it completed the sale of the U.S. business to Wonder, the food startup founded and led by e-commerce veteran Marc Lore. The deal has an enterprise value of $650 …
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Delivery Hero Falls 9% After Sale of Taiwan Unit to Uber Blocked
(Bloomberg) — Delivery Hero SE shares fell the most in two weeks in the first day of trading after Taiwan blocked the sale of its subsidiary there to Uber Technologies Inc. Shares of Delivery Hero fell as much as 9% to €26 in Frankfurt on Friday after the Taiwan Fair Trade Commission ruled the proposed …
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Tech Tracker: How the Wonder acquisition of Grubhub could shake up the delivery industry
After years of speculation and prospective sales opportunities, Just Eat Takeaway is finally selling Grubhub. While the buyer — Marc Lore’s New York City-based hotshot startup, Wonder — may come as a bit of a surprise, as many were hoping DoorDash would scoop up Grubhub like Uber did to Postmates, the acquisition is a fit …
The Rise of Super Apps: What Grubhub’s $650M Sale to Wonder Means for the Future of Food Delivery
Just Eat Takeaway is selling Grubhub to Wonder, a delivery-focused restaurant chain, for $650 million just four years after acquiring the U.S. food delivery app in a multibillion-dollar deal. The Netherlands-based food delivery group, Europe’s largest, has been evaluating a departure from the U.S. since 2022 after a long and difficult road. Grubhub struggles with slow growth, eyes reinvention …