Amazon Prime customers in the United States will be able to get a year of free restaurant delivery through Grubhub+ under a deal announced Wednesday by Just Eat Takeaway.com.
Excellent members will have access to hundreds of thousands of restaurants on GrubhubUS branch of Anglo-Dutch company Just eat Take it.
The deal will expand Grubhub+ membership while having a neutral effect on 2022 earnings, Just Eat Takeaway said in a press release. Exchange, Amazon will receive warrants for two percent of Grubhub’s common equity, with the potential to increase up to 13 percent of Grubhub equity, depending on the number of new customers added through the joint venture.
The Amazon venture “will help Grubhub continue our longstanding mission of connecting more diners to local restaurants,” said Grubhub CEO Adam DeWitt. “Amazon has redefined convenience with Prime, and we’re confident this offer will help new diners understand the value of Grubhub+ and drive more business for our restaurant partners and customers.” our driver.”
In April, Just Eat Takeaway said it was considering selling Grubhub or a joint 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 (nearly Rs 57,700). The company’s US wing lost EUR 403 million (nearly Rs 3,200) last year.
Just Eat Takeaway said Wednesday that it continues to “actively explore a partial or full sale of Grubhub,” adding that there is no certainty that a deal will happen.
Shares of Just Eat Takeaway rose about 20% to EUR 16.46 (nearly Rs 1,300). Shares have fallen more than 66% since the start of the year.
