Just Eat Takeaway.com NV’s US unit Grubhub is attracting preliminary interest from private equity firms including Apollo Global Management Inc., according to people with knowledge of the matter. New York-based Apollo is among possible suitors evaluating the business, the people said, asking not to be identified because the information is private. Just Eat Takeaway may struggle to get …
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Grubhub co-founder Matt Maloney was said to work with private equity firm General Atlantic to consider buying the food delivery outfit back after he sold it to Just Eat Takeaway (OTC:JTKWY) for $7.3 billion last year. Maloney decided against purchasing the company earlier this year, according to a Sunday Times report, citing unidentified sources. The 60% drop in …
DoorDash on Wednesday completed its acquisition of Finnish delivery company Wolt, expanding its global footprint from four countries to 27 and marking a big step forward for its international growth plans. Wolt CEO Miki Kuusi will take charge of the company’s operations outside the U.S., which include Australia, Canada and Japan in addition to Wolt’s …
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AMSTERDAM (Reuters) – U.S. food delivery firm DoorDash forecast a slowdown in second-quarter orders at Wolt Enterprises from the start of the year as it completed the $3.5 billion purchase of the European business in the midst of a cost-of-living crisis. The all-share deal to buy Helsinki-based Wolt had been worth more than $8 billion …
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Just Eat Takeaway’s sale of Grubhub is reportedly under threat as bosses prepare for a multibillion-pound writedown on the US business. According to The Times, bankers from Bank of America are working to find a buyer or strategic partner for the American food delivery operator, which Just Eat bought less than year ago for $7.3bn (£5.8bn). …
Continue reading “Just Eat Takeaway to wipe £5bn off Grubhub valuation – report”
As the food delivery industry reckons with a post-lockdown economy, Just Eat Takeaway is reportedly considering a sale of Grubhub at a considerable markdown in value. According to a report from the Sunday Times, Just Eat Takeaway could wipe around $6 billion off the value of the US company that it acquired for $7.3 billion in …
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DoorDash DASH +3.11% declined to comment, and Lyft couldn’t be reached immediately for comment. He believes that only being a ride-hailing service is a disadvantage for Lyft relative to Uber Technologies UBER –4.65% (UBER) which has multiple businesses such as Uber Eats. DoorDash plus Lyft essentially creates a mini-Uber. Uber’s market capitalization is about $53 billon. DoorDash’s market cap is about $26 billion and …
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New Street analyst Pierre Ferragu thinks a merger between Lyft Inc (NASDAQ:LYFT) and DoorDash Inc (NYSE:DASH) would drive a 30% upside to the combined company’s long-term EBITDA. Ferragu says combining the businesses would keep drivers busier, allowing them to make more money while also reducing the cost of finding new customers. The combination of food delivery and ride-sharing paid off …
When Uber completed its billion-dollaracquisition of Boston-based Drizly nearly six months ago, it played up the notion that the companies go together like pizza and beer. In fact, ask anyone why they think Uber bought Drizly, and you’ll likely get the same answer: Uber can use its fleet of drivers to deliver White Claws and …
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Enterprise digital order logistics firm Olo (NYSE: OLO) announced it would acquire Omnivore, a platform that allows restaurants to plug in a huge variety of technologies into their point of sale. The announcement came midway through Olo’s fourth-quarter earnings call. Olo founder and CEO Noah Glass said Omnivore would help restaurants become the digital enterprises …
