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Benzinga
Benzinga
Business
Vandana Singh

Troubled Grubhub's Parent Company Seeks Investment Partner: WSJ

Grubhub Just Eat United States
  • Dutch multinational online food ordering and delivery company Just Eat Takeaway.com NV (OTC:TKAYF) is hit by doubts about whether it can sell its U.S. operation, Grubhub Inc.
  • As per Wall Street Journal, Grubhub CEO Adam DeWitt said the company's parent hopes to find a strategic partner, though a divestiture cannot be ruled out.
  • In some of his first public remarks about the company since Just Eat said in April it would consider selling Grubhub, as its U.S. division encounters challenges.
  • "It's more about finding a way to help us grow than it is necessarily about the sale," Mr. DeWitt said Tuesday at The Wall Street Journal's Global Food Forum.
  • According to Grubhub, it lost market share as diners worked from home in the suburbs, where its rivals have the upper hand and fewer big chain restaurants on its app.
  • The CEO also defends free-lunch promotion in New York City, even though orders overwhelmed some restaurants leaving many diners angry.
  • Mr. DeWitt said the company aims to balance making money off orders and helping operators make money amid 30% commissions charged to restaurants.
  • Photo by Haydn Blackey via Flickr
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