Adam DeWitt, chief executive of Grubhub, is stepping down as CEO of the nation’s No. 3 delivery operator, the company’s European owner, Just Eat Takeaway.com, announced Monday. DeWitt ran Grubhub alongside co-founder and former CEO Matt Maloney for years during its heyday. DeWitt served as the company’s chief financial officer until he became CEO in June 2021, when JET …
Tag Archives: Just Eat Takeaway.com
Just Eat Takeaway loss widens on massive Grubhub impairment
Just Eat Takeaway.com NV on Wednesday reported a widened loss for 2022, due to a huge impairment of its Grubhub acquisition, but it growth in 2023. The former FTSE 100 stock was down 6.0% at 1,701.00 pence each on Wednesday morning in London. The food delivery app said revenue was up 4.3% to EUR5.56 billion …
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Just Eat Takeaway shares rise as ING predicts 2023 profit jump
Just Eat Takeaway (AS:TKWY) shares climbed towards the top of the pan-European Stoxx 600 on Monday after analysts at ING said they expect the Amsterdam-listed food delivery service to post strong returns in 2023. In a note to clients, the analysts predicted that Just Eat may report “quite significant profit” this year, citing the impact …
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Just Eat orders drop in latest quarter amid online food slowdown
Just Eat food delivery service saw customers place fewer orders than expected in its latest quarter amid rising living costs and a slowdown in growth for the online food sector. The total value of orders placed on Amsterdam-based Just Eat’s platform during the fourth quarter was €7.1bn, the company reported, compared to an average analyst …
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Grubhub Parent Focused on Profitability Amid Slump in Orders and Spending
With aggregators increasingly operating at a profit, those that are not may get left behind. In the past couple of quarters, Just Eat Takeaway.com has been making a profit for the first time since lockdown, even as sales have fallen. The company discussed this turnaround on a call Wednesday (Jan. 18) accompanying its fourth-quarter 2022 financial results. “[We …
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Grubhub Sees Traction From Partnerships as Parent Swings to Profitability
Restaurant aggregator Grubhub, the third-most popular in the United States, is looking to gain on its competitors by leveraging partnerships with major companies, and so far, these collaborations appear to be working. On a call with analysts Wednesday (Oct. 19) discussing parent company Just Eat Takeaway’s third-quarter 2022 financial results, company executives noted that the early results of …
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Just Eat Takeaway: Amazon Partnership Could Double Grubhub’s Growth
Summary As Amazon partnered with Grubhub, we estimated its user growth opportunities at 62 mln users by leveraging Amazon’s massive Prime members of 160 mln. With the additional users, we expect this to provide incremental transaction volumes for Grubhub of $3.41 bln per year through 2026. In terms of market share of the food delivery …
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Just Eat Sells IFood Stake to Prosus for $1.8 Billion
Just Eat Takeaway.com NV agreed to sell its 33% stake in Latin American joint venture iFood to Prosus NV for as much as 1.8 billion euros ($1.8 billion). The deal fulfills a pledge to investors and will bolster Just Eat’s balance sheet, albeit at a price below a previous offer for the shares. The company …
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SELLING A SHARE IN BRAZIL’S IFOOD FOR “UP TO” $1.8 BILLION IS JUST EAT TAKEAWAY
Just Eat Takeaway, a European food delivery and ordering behemoth, has announced that it would sell its investment in Brazil’s iFood to Prosus for up to €1.8 billion ($1.8 billion). A total of €1.5 billion in cash is on the table for the first deal, with an additional €300 million contingent on iFood’s success over …
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Grubhub owner jokes about Katy Perry ad as it takes $3B writedown
Just Eat Takeaway.com, Grubhub’s parent and Europe’s largest meal delivery company, on Wednesday reported a smaller loss for the first half of 2022 and maintained growth and margin forecasts for the full year, promising lower spending on costs such as a recent commercial featuring pop icon Katy Perry. Investors lauded the company’s focus on profitability, which …
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