Heard on the Street: Grubhub could see a big influx of subscribers as a result of its deal with Amazon, but don’t expect its U.S.-based competitors to starve
As a result of its deal with Amazon.com, Grubhub could see a big influx in subscriber numbers—at least for a time.July 16, 2022 10:00 am ET
Just Eat Takeaway.com ’s Grubhub has landed itself a tasty snack, but don’t expect its U.S.-based competitors to starve. Shares of the Amsterdam-based delivery company jumped nearly 15% on July 6 after it said it struck a deal with Amazon.com to offer U.S. Prime subscribers one-year free of Grubhub’s membership program, Grubhub+. As part of the deal, Amazon will receive warrants in Grubhub equivalent to 2% of Grubhub’s equity and access to warrants for a further 13%.
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