Amazon has agreed to take a 2% stake in Just Eat Takeaway.com’s struggling US meal delivery business Grubhub and will offer its Prime members access to the service for one year.<\/p>\n
The deal is a major relief for Just Eat, whose shares have fallen 70% this year as shareholders demanded it sell or find a partner for Grubhub, which it bought just last year for $5.8 billion in shares.<\/p>\n
Shares in Just Eat rose 16% in early trade.<\/p>\n
Under the deal announced Wednesday, Amazon will receive warrants representing 2% of Grubhub’s shares, and an additional 13% conditional on the deal bringing Grubhub enough customers. <\/p>\n
“The agreement is expected to expand membership to Grubhub+, while having a neutral impact on Grubhub’s 2022 earnings and cash flow, and be earnings and cash flow accretive for Grubhub from 2023 onwards,” Just Eat Takeaway said in a statement.<\/p>\n
The company said that Grubhub’s gross assets were worth 6.5 billion euros ($6.67 billion) at the end of 2021, and it made a pretax loss of 403 million euros in that year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Amazon has agreed to take a 2% stake in Just Eat Takeaway.com’s struggling US meal delivery business Grubhub and will offer its Prime members access to the service for one year. The deal is a major relief for Just Eat, whose shares have fallen 70% this year as shareholders demanded it sell or find a partner for Grubhub, which it bought just last year for $5.8 billion in shares. Shares in Just Eat rose 16% in early trade. Under the deal announced Wednesday, Amazon will receive warrants representing 2% of Grubhub’s shares, and an additional 13% conditional on the deal […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-799311","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=799311"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799311\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=799311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=799311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=799311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}