Amazon, Just Eat deal to offer free Grubhub delivery in US

Amazon Prime customers in the United States will be able to receive a year of free restaurant delivery through Grubhub+ under a deal announced Wednesday by Just Eat Takeaway.com.

Prime members will have access to hundreds of thousands of restaurants on Grubhub, the American affiliate of Anglo-Dutch company Just Eat Takeaway.

The deal should expand Grubhub+ membership while having a neutral effect on 2022 earnings, Just Eat Takeaway said in a news release. In exchange, Amazon will receive warrants for two percent of Grubhub's common equity, with the potential for up to 13 percent more of Grubhub equity, depending on the number of new customers added through the venture.

The Amazon venture "will help Grubhub continue to deliver on our long-standing mission to connect more diners with local restaurants," said Grubhub Chief Executive Adam DeWitt. "Amazon has redefined convenience with Prime and we're confident this offering will expose many new diners to the value of Grubhub+ while driving more business to our restaurant partners and drivers."

In April, Just Eat Takeaway said it was considering either selling Grubhub or a venture with a strategic partner following criticism from some shareholders that it should focus on Europe.

Just Eat Takeaway bought Grubhub in 2020 for $7.3 billion. The US wing of the company lost 403 million euros last year.

Just Eat Takeaway said Wednesday it continues to "actively explore the partial or full sale of Grubhub," adding that there was no certainty a deal would happen.

Shares of Just Eat Takeaway surged around 20 percent to 16.46 euros. Shares have fallen more than 66 percent since the beginning of the year.

dho-jmb/to

JUST EAT PLC

AMAZON.COM

Related Links
Farming Today - Suppliers and Technology

Tweet

Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Monthly Supporter
$5+ Billed Monthly

paypal only

SpaceDaily Contributor
$5 Billed Once

credit card or paypal

Ploughing and tilling soil on slopes is jeopardizing future farm yields
Lancaster UK (SPX) Jul 06, 2022
Ploughing and tilling on hilly slopes is causing farm soils to thin and threatens future crop yields, a new study published in Nature Food finds. Scientists behind the study, from Lancaster (UK) and Augsburg (Germany) Universities, argue that unless farmers stop tilling hill slopes, over the long-term the soils on hillsides could thin to the point where growth of food crops is severely threatened. For centuries, farmers have tilled the soil in their fields to provide seed beds in order to pr ... read more