71.87 0.00 (0.00%)
After hours: 4:07PM EDT
|Bid||71.91 x 900|
|Ask||71.95 x 800|
|Day's range||70.44 - 71.95|
|52-week range||29.35 - 80.25|
|Beta (5Y monthly)||1.23|
|PE ratio (TTM)||N/A|
|Earnings date||28 Jul 2020 - 03 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||58.45|
Uber Technologies (NYSE: UBER) was not too happy when Grubhub (NYSE: GRUB) decided to sell its business to Just Eat Takeaway. Just Eat Takeaway offered a similar price, however, and Grubhub's owners felt the partnership made for a better exit. It instead focused on a smaller competitor in the U.S. food delivery space: Postmates.
Shares of restaurant delivery marketplace Grubhub (NYSE: GRUB) jumped 44% in the first six months of the year, according to data from S&P Global Market Intelligence. A buyout offer from Uber (NYSE: UBER) and a subsequent agreement to sell itself to Just Eat Takeaway, the European food delivery giant, was the main reason for the surge. Grubhub limped into 2020 losing market share to rivals like DoorDash and Uber Eats.
The outlook for the nation's restaurants in the wake of COVID-19 isn't pretty, says one celebrity chef.
Uber on Monday finally found a deal it can sink its teeth into. The tech company will pay $2.65 billion to combine its Uber Eats food delivery service with rival Postmates. Uber has been looking for a way to diversify revenues. It first tried to buy GrubHub a few weeks ago, but that deal ultimately fell apart on antitrust concerns and GrubHub immediately got hitched to a European delivery company for more than $7 billion. With this deal, Uber is getting a much smaller player among the food delivery companies. Postmates had only 8 percent of the delivery market in May, according to analytics firms Second Measure. Its biggest rival DoorDash had 44 percent of the market. But Uber CEO Dara Khosrowshahi still sees potential to grow the combined unit and use that to boost his chances of turning Uber from a money-losing company into a money-making one. With demand for food-delivery soaring through the roof with many customers reluctant to dine out, Uber Eats saw orders last quarter surge more than 100 percent compared to a year ago. In a sign of optimism, shares of Uber rallied on word of the deal, a rare feat for a company shelling out billions to buy a competitor.
Uber has widened its reach in the fiercely competitive delivery market by acquiring Postmates in a $2.65 billion all-stock deal, the company said Monday. While Uber's meal delivery business, Uber Eats, has mostly focused on restaurants, Postmates delivers a wider array of goods including groceries, pharmacy items, alcoholic drinks and party supplies. “The vision for us is to become an everyday service,” said Dara Khosrowshahi, CEO of Uber, in a conference call with investors Monday.
Uber has reportedly agreed to buy Postmates in an all-stock deal worth $2.65 billion. According to Bloomberg, the deal may be announced on Monday morning. Like other travel- and transportation-related businesses, Uber's ride-hailing segment has been negatively impacted by the COVID-19 pandemic, due to shelter-in-place orders throughout the United States.
Postmates will miss out on a dramatic IPO launch party on the floor of the New York Stock Exchange or at Nasdaq headquarters. Postmates investors may, instead, get something more coveted than corporate pageantry: actual synergies. On Monday, the online food delivery service announced that it will be gobbled up by Uber, fusing it with its own Uber Eats.
Are there any reasons to buy this food delivery stock ahead of its merger with Just Eat Takeaway next year?
By John Jannarone goPuff’s delivery volume rose 400% in the first half of 2020, according to sources goPuff now reaches 500 cities through over 200 distribution facilities Raised $1 billion from investors including Accel and SoftBank Vertical integration provides better customer experience and margins goPuff’s rapid expansion gives it head start and wide moat versus […]
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Grubhub Inc. (NYSE: GRUB) to Just Eat Takeaway.com N.V. (AMS: TKWY, LSE: JET) ("Just Eat"). Under the terms of the proposed transaction, shareholders of Grubhub will receive only 0.6710 shares of Just Eat for each share of Grubhub that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
Last November, Uber (NYSE: UBER) CEO Dara Khosrowshahi outlined the company's strategy for its food delivery business, Uber Eats. What was left unspoken in that message was that Uber would also pull out of markets where it didn't believe it could be one of the top two players, as it seeks to bring the historically unprofitable food delivery business out of the red. Since last October, Uber Eats has exited South Korea, India, Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Uruguay, and Ukraine, as it's eyed a pre-pandemic goal of reaching profitability on an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) basis by the end of this year, which it since pushed back to 2021.
Just Eat Takeaway’s gluttonous $7bn acquisition of Grubhub has whetted the appetites of its US food delivery rivals for a market share fight. Just a few weeks after Uber lost the chance to buy Grubhub it is eyeing up private rival Postmates. Postmates, last valued at $2.4bn, is a far smaller prize.
WILMINGTON, De., June 30, 2020 -- Rigrodsky & Long, P.A. announces that it is investigating: Finjan Holdings, Inc. (NASDAQ GS: FNJN) regarding possible breaches of.
It looks like Uber Technologies (NYSE: UBER) didn't abandon the mergers and acquisitions market after failing to buy food delivery specialist Grubhub (NYSE: GRUB). The Wall Street Journal reports Uber is now in talks to acquire Postmates for $2.6 billion in a deal that could be announced next week or even sooner. Failing a merger, Postmates may go public.
Uber has reportedly made an offer to buy food delivery service Postmates, according to The New York Times. For those who have been paying attention to Uber, this appetite is not new, albeit consistent. A little over a month ago, the ride-hailing company was reportedly pursuing an acquisition of Grubhub, another food delivery company.
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Grubhub, Inc. (GRUB) in connection with the proposed acquisition of the company by Just Eat Takeaway.com N.V. (“Just Eat Takeaway”). Under the terms of the acquisition agreement, GRUB shareholders will receive American depositary shares representing 0.671 ordinary shares of Just Eat Takeaway for each GRUB share that they own.
WILMINGTON, Del., June 22, 2020 -- Rigrodsky & Long, P.A. announces that it is investigating: Finjan Holdings, Inc. (NASDAQ GS: FNJN) regarding possible breaches of.
WILMINGTON, Del., June 16, 2020 -- Rigrodsky & Long, P.A. announces that it is investigating: Finjan Holdings, Inc. (NASDAQ GS: FNJN) regarding possible breaches of.
In this episode of MarketFoolery, Chris Hill chats with Motley Fool contributor Dan Kline about the latest news from the markets. They discuss the latest market swings and dispel some trends, and they examine failed and new mergers in the food delivery space.
Uber (NYSE: UBER) recently abandoned its bid for Grubhub, which would have merged the third and second largest food delivery platforms in America, respectively, to challenge market leader DoorDash. Shortly afterwards, Grubhub agreed to merge with its European peer Just Eat Takeaway. Losing Grubhub could make it tougher for Uber Eats, which racked up an adjusted EBITDA loss of $313 million last quarter, to compete in the cutthroat food delivery market.
After weeks of being serenaded, Grubhub (NYSE: GRUB) has finally chosen a suitor. The restaurant takeout marketplace will be sold to Just Eat Takeaway.com (OTC: TKAY.Y), a European leader in online restaurant takeout and delivery. The agreement ends weeks of suspense over a potential tie-up between Grubhub and Uber (NYSE: UBER), which had been in talks to merge Grubhub, the #2 U.S. restaurant delivery company, with Uber Eats, the #3 domestic food delivery app.
Grubhub's (NYSE: GRUB) stock recently popped after the American food delivery company agreed to merge with its European peer Just Eat Takeaway (OTC: TKAY.Y), which itself was formed by a recent merger between the U.K.'s Just Eat and Netherlands-based Takeaway. The all-stock deal, which values Grubhub at $7.3 billion, will exchange each Grubhub share for 0.671 shares of Just Eat, which implied a value of $75.15 per Grubhub share when the deal was announced. Merging with Just Eats would also likely avoid the antitrust scrutiny of a combination of Grubhub and Uber Eats, which would have combined the second- and third-largest food delivery platforms in the U.S., respectively, after DoorDash.
Following months of speculation that Uber might acquire GrubHub (NYSE: GRUB), the latter company has decided to instead merge with European food delivery company Just Eat Takeaway.com (OTC: TKAY.Y). The prospect of Uber Eats combining with GrubHub had already started to garner pushback from lawmakers over anticompetitive concerns. Unfortunately, more consolidation in the global food delivery industry will likely just hurt small local restaurants.