Just Eat Takeaway.com, the online food-ordering company, on Wednesday said its shareholders approved its proposed $6.9 billion purchase of rival Grubhub, but rejected a pay package for the company’s chief executive, Matthew Maloney. Takeaway agreed in June to buy Grubhub in a deal to create a transatlantic group which would be the biggest food delivery business outside […]
Tag Archives: Mergers & Acquisitions
Postmates Is Over $929.3 Million in the Hole
According to the Wall Street Journal, a Friday regulatory filing from SF-based Uber reveals that (also SF-based) food delivery app Postmates is running at a very, very steep loss. “Postmates had an accumulated deficit of $929.3 million as of June 30,” reporter Laura Forman notes, and in the second quarter of 2020 — yes, in those […]
Uber’s Postmates Acquisition Might not Deliver the Profitability Expected
According to Uber, Postmates saw a 125% increase in revenue during the period as sales jumped from $71 million to $160 million. And though that allowed it to slash its losses for the quarter, it indicates that even during a period of unprecedented consumer demand, Postmates is still a money-losing operation. That’s not much different from Grubhub (NYSE:GRUB), which […]
POSTMATES MORE THAN DOUBLES REVENUE IN Q2 AHEAD OF UBER EATS DEAL
Third-party delivery service Postmates saw revenues increase by more than 125% in the second quarter while also cutting its losses as it heads into a proposed acquisition by Uber Eats—a deal that has drawn additional scrutiny from the Department of Justice. That information was disclosed in a document filed late Friday by Uber with the Securities and […]
Waitr’s Footprint and Fintech Make for an Appetizing Takeover Target
When it comes to regional expansion, Uber Technologies, Inc., Just Eat Takeaway, and Doordash tend to take big bites. Who might be their next M&A target? One prime candidate to consider is food ordering and delivery business Waitr Holdings, Inc., which connects local restaurants to diners in underserved markets where it usually has a dominant […]
Delivery Hero to Acquire South American Delivery Firm Glovo
In yet another big consolidation for the global food delivery industry, Delivery Hero is set to acquire Latin- and South-American delivery network Glovo for about $268 million. The deal would mark the second large delivery acquisition by the German-based delivery firm in as many months. The company also announced plans to acquire InstaShop, an online […]
Grubhub Acquisition by Just Eat Takeaway May Need 6 Months More to Complete
Grubhub (NYSE:GRUB) announced today that although it and Just Eat Takeaway.com (LSE:JET) have received all the necessary regulatory approvals to complete their $7.3 billion all-stock merger, the two may need more time to complete the deal. The third-part meal delivery industry is undergoing a wave of consolidation. Uber Technologies (NYSE:UBER) is acquiring Postmates for $2.6 billion (and had sought to acquire Grubhub before it accepted […]
Five Star Food Express is Joining the delivery.com Network
NEW YORK, Aug. 26, 2020 /PRNewswire/ — delivery.com, a leading destination for online ordering today announced that Five Star Food Express has joined the delivery.com network. Five Star Food Express, which serves several cities in Arizona, Idaho, Indiana, Michigan, Missouri, Montana, and Utah, will now be available exclusively through the delivery.com website and app. The current Five Star Food Express management and teams will remain […]
Just Eat Takeaway shares set to soar ahead of H1 earnings
Just Eat Takeaway.com has seen its share price outperformer the broader market, driven by its inorganic growth strategy and an uptick in consumers ordering take out amid government-imposed lockdowns due to Covid-19. The online food delivery company only recently rebranded following the merger of Just Eat and Netherlands-based Takeaway.com earlier this year, with the enlarged group announcing […]
More on the Uber-Postmates Fallout, from an Expert
Consolidation came for the third-party delivery space during COVID-19. Grubhub joined European food delivery company Just Eat Takeaway for $7.3 billion after a deal with Uber fell through. Then, the latter merged with Postmates in a $2.65 billion blockbuster. What does this all mean for aggregators and restaurants alike? Christian Selchau-Hansen, co-founder and CEO of Formation.ai, offered […]