←back to thread

Wonder is acquiring Grubhub

(about.grubhub.com)
146 points endtwist | 1 comments | 13 Nov 24 19:12 UTC | HN request time: 0.208s | source
Show context
bsimpson ◴[13 Nov 24 19:20 UTC] No.42129006[source]▶
Those weird ghost kitchen things have more than half a billion dollars to spend on acquisitions?!

I wonder how this came to be - did they already have that big of a war chest, or did they hear they could buy a name brand and go back to their investors to finance it?

replies(10): >>42129013 #>>42129028 #>>42129215 #>>42129359 #>>42129375 #>>42129794 #>>42130261 #>>42130494 #>>42132018 #>>42134445 #
1. skywhopper ◴[13 Nov 24 20:02 UTC] No.42129359[source]▶
Looks like they only spent $150M in cash and took on $500M of debt to do the ancquisition. They raised $250M from outside investors to pay for it. So sounds like they have $100M to try to make a go of it.

I expect the value to go way down as they squeeze all sides of the equation: drivers, restaurants, and customers.