Wonder confidentially filed for an initial public offering, the company said Thursday. Founded by Marc Lore in 2018, the startup initially brought together restaurants through a delivery and takeout application before expanding to roughly 170 physical locations across the United States. On November 17, it plans to launch Wonder Create, which will let influencers, entrepreneurs and brands open a restaurant for $10 per month and earn a share of order revenue. Wonder has already spent at least $1 billion on acquisitions, including Grubhub, Blue Apron and Relay, and reached a $9 billion pre-money valuation in its Series D funding round. IPO proceeds are expected to fund further acquisitions, while weak consumer sentiment and market volatility could leave the company under greater investor scrutiny.
Source: Read the original article
