The early months of the coronavirus pandemic were both a boon and a strain for U.S.-based food delivery companies. DoorDash, Grubhub, Postmates, and Uber Eats all saw a rush of business while still suffering from the dismal economics that had kept any of them from becoming profitable. It was unclear whether the lockdowns were a moment to shine or collapse.
So they started merging. In May, Uber Technologies Inc. was on the verge of acquiring Grubhub. The deal fell apart at the 11th hour, and Uber went on to buy Postmates for $2.65 billion; Grubhub ended up in the arms of Just Eat Takeaway.com NV, an Amsterdam-based company that had never had a presence in the U.S.
The deal, whose final value will be close to $7 billion, was an inversion of the normal course of things in tech, where it’s more common for high-flying U.S. businesses to sweep up smaller European companies. It also made Takeaway’s founder and chief executive officer, a 42-year-old Dutch billionaire named Jitse Groen, one of the most important players in U.S. food delivery.
The Grubhub deal is expected to close in the first half of this year, pending approval by Grubhub shareholders, meaning Groen could arrive in the U.S. just as a semblance of normalcy returns. That could make things tricky for delivery companies, whose stir-crazy customer base is probably eager to avail itself of the opportunity to do almost anything other than sitting in the house eating out of plastic containers.
Diese Geschichte stammt aus der March 22, 2021-Ausgabe von Bloomberg Businessweek.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der March 22, 2021-Ausgabe von Bloomberg Businessweek.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Instagram's Founders Say It's Time for a New Social App
The rise of AI and the fall of Twitter could create opportunities for upstarts
Running in Circles
A subscription running shoe program aims to fight footwear waste
What I Learned Working at a Hawaiien Mega-Resort
Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.
How Noma Will Blossom In Kyoto
The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking
The Last-Mover Problem
A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps
Tick Tock, TikTok
The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban
Cleaner Clothing Dye, Made From Bacteria
A UK company produces colors with less water than conventional methods and no toxic chemicals
Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers