Shares of Waitr Holdings Inc.WTRH,+58.45%shot up 45.4% on massive volume in afternoon trading Wednesday, to bounce off a 19-month closing low in the previous session, after Morgan Stanley disclosed a 10.3% stake in the company. Trading volume ballooned to 155.9 million shares, enough to make the online ordering technology platform company’s stock the most actively …
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Just Eat CEO says Grubhub will be part of US delivery consolidation
AMSTERDAM (Reuters) – The chief executive of Just Eat Takeaway.com said on Thursday he expects newly acquired Grubhub to eventually be part of a consolidation in the U.S. delivery market, but signalled he is not currently open to selling the business. “Over time there will inevitably be consolidation in the wider U.S. on-demand delivery market, …
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Just Eat Takeaway Aims for Reset Button as Shares Trail Rivals
(Bloomberg) — After watching its share price plunge and investor pressure ratchet up over the past year, Europe’s Just Eat Takeaway.com NV needs to address concerns over its strategy at an investor day on Oct. 21. The Amsterdam-based business was removed from the FTSE 100 benchmark stock index last month, its share price trails rivals, …
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BRACE YOURSELF FOR A MASS EXODUS OF EMPLOYEES
Restaurants struggling to hold onto their employees are about to hit by a major setback, according to new research. A survey of 13,659 wage earners by the online job marketplace Joblist revealed that 58% of restaurant and hotel employees intend to quit their jobs by the end of the year, stoking what the researchers have dubbed The …
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GrubHub founder Matt Maloney leaves 4 months after company was acquired
Grubhub founder Matt Maloney is leaving the food-delivery giant just four months after it was acquired by a European conglomerate. Amsterdam-based Just Eat Takeaway bought Grubhub, which also owns Seamless, in June for $7.3 billion, naming a new chief executive — former president and chief financial officer Adam DeWitt — to succeed Maloney who was bumped …
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Zuppler Launches AI-Powered Marketing Services to Help Restaurants Increase Online Ordering Revenue
Global restaurant software and services provider Zuppler has announced the general availability of its AI-powered marketing services as part of the Menu Anywhere online ordering platform. The company has also announced automated abandon cart notification and order experience enhancements to its online ordering platform. Smart Upsell is an AI-based tool that generates real-time recommendations based on what …
Uber Says It’s on Track to Maybe Make a Fake Profit
Uber says it’s set to break even or make an operating profit for the first time ever ahead of schedule—you know, on paper, so long as you squint your eyes at the books in the Uber-approved way. According to Reuters, Uber said on Tuesday that it expects to break even this quarter, according to its definition of “adjusted …
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Restaurant-software maker Toast valued at nearly $33 billion as shares surge in debut
Toast Inc fetched a valuation of nearly $33 billion in its New York Stock Exchange debut on Wednesday, as shares of the restaurant software provider jumped 63%, underscoring a deep investor appetite for fast-growing software firms. The stock opened at $65.26, compared with its initial public offering price of $40 per share. The valuation marked …
TOAST RAISES IPO PRICE AGAIN, EYEING $18B VALUATION
Restaurant software company Toast on Monday raised the price range for its initial public offering for a second time, flashing confidence in investors’ appetite for restaurant technology. The Boston-based company will now look to sell more than 21 million shares of Class A stock for $34 to $36 each, it said in a filing with the Securities …
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Home food delivery still going strong for Iowa businesses
From online retail giants to local takeout, last year’s home quarantine period saw a boom in home-delivery services. That wave receded this spring as vaccination numbers grew, but larger Iowa markets are likely to see continued growth in the service. “We anticipate more customers choosing online shopping as their primary way to shop for groceries,” …
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