Wonder agreed to buy Grubhub from Just Eat Takeaway.com for $650 million in enterprise value in November 2024, and the transaction closed on 6 January 2025. The headline figure was not $650 million in cash: the announced package was $150 million in cash and $500 million in senior notes.
When did Wonder buy Grubhub?
Wonder announced the agreement on 13 November 2024. The companies expected the deal to close in the first quarter of 2025, subject to customary conditions, including regulatory approvals. Just Eat Takeaway.com later reported that the sale was completed on 6 January 2025. Wonder’s announcement and the seller’s closing report establish the announcement and completion dates.
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Grubhub eGift Card | $100.00 | Buy on Amazon |
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Grubhub eGift Card | $200.00 | Buy on Amazon |
| 3 |
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Grubhub eGift Card | $50.00 | Buy on Amazon |
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Grubhub Physical Gift Card | $100.00 | Buy on Amazon |
| 5 |
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Grubhub Physical Gift Card | $50.00 | Buy on Amazon |
How much did Wonder pay for Grubhub?
The announced $650 million was the transaction’s enterprise value, comprising $500 million in senior notes and $150 million in cash, according to the 2024 deal announcement. Enterprise value describes the stated value of the transaction; it should not be read as $650 million of cash proceeds to Just Eat Takeaway.com.
In its 2025 interim results, Just Eat Takeaway.com reported €136 million in consideration received and €40 million in transaction expenses. These are the seller’s reported amounts in euros, not a restatement of the deal’s announced dollar enterprise value. The figures are reported in the company’s interim results.
#1 Best Overall
- This card is redeemable via grubhub.com or the Grubhub app in markets where Grubhub is available within the U.S. only.
- To redeem, log into your account online or in the app, select "gift cards", select "add a new gift card" and enter in the gift card number to add the balance to your account.
- No returns and no refunds on gift cards.
Why the €669 million figure is different
The same reporting recorded €669 million from recycling a foreign-currency translation reserve through discontinued operations. This is an accounting effect associated with the disposal, not additional cash received or the sale price. Just Eat Takeaway.com’s interim reporting identifies it separately.
Why did Just Eat Takeaway sell Grubhub?
The transaction announcements do not establish a definitive, independently verified motive for the sale. Wonder founder and CEO Marc Lore said the acquisition continued the company’s mission “to make great food more accessible” in the 13 November 2024 announcement. That is Wonder’s stated rationale, not independent evidence of why the seller chose to divest Grubhub.
Rank #2
- This card is redeemable via grubhub.com or the Grubhub app in markets where Grubhub is available within the U.S. only.
- To redeem, log into your account online or in the app, select "gift cards", select "add a new gift card" and enter in the gift card number to add the balance to your account.
- No returns and no refunds on gift cards.
What the deal covered—and what happened afterward
At the time of the 2024 announcement, Grubhub reported more than 375,000 merchants and 200,000 delivery partners across the United States. Those are company-reported figures from the announcement, not current counts. Grubhub’s deal announcement provides the figures.
In February 2025, Wonder described integration work and announced approximately 500 position eliminations at Grubhub. The figure refers to the company’s statement at that time; it does not establish current staffing. Wonder’s employee message also said the acquisition had been completed in January.
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Rank #3
- This card is redeemable via grubhub.com or the Grubhub app in markets where Grubhub is available within the U.S. only.
- To redeem, log into your account online or in the app, select "gift cards", select "add a new gift card" and enter in the gift card number to add the balance to your account.
- No returns and no refunds on gift cards.
FTC payments are separate from the acquisition
In August 2026, the Federal Trade Commission said it was sending more than $23.8 million to drivers and diners affected by Grubhub’s conduct, including deceptive driver earnings claims and misleading or unlawful conduct toward diners. The FTC said 640,038 consumers were affected. These payments relate to the FTC action, not the sale to Wonder or its consideration. The agency’s summary describes required operational changes concerning honest driver-pay advertising, a way for users to dispute blocked accounts, and restaurant listings only with consent. See the FTC update.
Quick Recap
Best Value
- To redeem, log into your account online or in the app, select "gift cards", select "add a new gift card" and enter in the gift card number to add the balance to your account.
- No returns and no refunds on gift cards.
Rank #4
- This card is redeemable via grubhub.com or the Grubhub app in markets where Grubhub is available within the U.S. only.
- To redeem, log into your account online or in the app, select "gift cards", select "add a new gift card" and enter in the gift card number to add the balance to your account.
- No returns and no refunds on gift cards.
- Grubhub is the nation's leading online and mobile food ordering and delivery marketplace dedicated to connecting hungry diners with local takeout restaurants.
- The company’s online and mobile ordering platforms allow diners to order from more than 115,000 takeout restaurants in over 2,200 U.S. cities.
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