![]() ![]() ![]() On Twitter, Facebook, Google News, and Instagram. The Amazon deal will be neutral for Grubhub's financial results this year and add to cash flow and earnings starting in 2023, Just Eat said in the statement.įollow HT Tech for the latest tech news and reviews, also keep up with us In a presentation to analysts and investors in October, Groen laid out a strategy to grow in the US, targeting suburbs in key markets and trialling mini warehouses in New York for faster order fulfillment. ![]() Download the Grubhub app to discover delivery deals, free food and rewards from local. Just Eat Chief Executive Officer Jitse Groen is under pressure to find a way to reignite growth after a slew of competitors took market share and restaurants that had been closed during the Covid-19 lockdowns reopened to diners. Grubhub, Amazon delight Prime members with free Grubhub+ f. Grubhub also attracted preliminary interest from private equity firms including Apollo Global Management Inc., Bloomberg reported in June. The company announced plans to find an investor or bidder for the US business in April, less than a year after buying Grubhub for $7.3 billion. The membership agreement will renew every year unless Amazon or Grubhub terminates it, and Just Eat will continue to explore a full or partial sale of the US business, Just Eat said. ![]() For a hitherto stranded asset and dead-weight to the JET equity, this is positive news.” “Grubhub has secured not just a very powerful partner, but also a very efficient acquisition channel. “The Amazon partnership is both material and welcome,” Jefferies analyst Giles Thorne said in a note to investors. Just Eat shares jumped as much as 20% in Amsterdam on Wednesday, the biggest intraday gain since December 2018, and were up 17% at 11:06 a.m. Amazon's stake is in the form of warrants, which will vest depending on how well the partnership performs and how many new customers it attracts. The aggregator announced Tuesday (June 6) that it is partnering with Amazon Canada to offer free yearlong DashPass subscriptions to Prime members in the country, promising free delivery and credit. Amazon will receive options for a 2% stake in Grubhub and will have the opportunity to increase the holding to 15%, Just Eat said. ![]()
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