Tag: food delivery

  • Uber to join S&P 500

    Uber to join S&P 500

    Uber has made a significant leap in the financial world by joining the prestigious S&P 500, as announced on December 1, 2023. This inclusion marks a notable achievement for the ride-hailing company, reflecting its solid financial performance and growing market presence. Uber’s journey to the S&P 500 was fueled by its positive earnings in the…

  • Meituan not buying Foodpanda after all

    Meituan not buying Foodpanda after all

    Reported by Business Times, Meituan’s recent announcement of not pursuing the acquisition of foodpanda has come as a significant relief for Grab. This decision by the Chinese food delivery giant has lifted a major concern for Grab’s stock prices. Rumors had circulated that Meituan, a leader in China’s food delivery sector, might acquire foodpanda. These…

  • Grab Achieves Profit on Adjusted Basis

    Grab Achieves Profit on Adjusted Basis

    Grab has hit a significant financial milestone. For the first time since its inception in 2012, Grab has reported a profit on an adjusted basis, a promising development for investors concerned about the company’s profitability. In the quarter ending September, Grab posted an adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $29 million,…

  • Amazon takes stake in Grubhub

    Amazon takes stake in Grubhub

    Amazon on Wednesday agreed to take a stake in Grubhub as part of a deal that will also give members of its Prime subscription program a one-year membership to the food delivery service. The partnership gives Amazon the option to take a 2% stake in Grubhub, the U.S. subsidiary of Just Eat Takeaway.com, the European…

  • DoorDash v San Francisco

    DoorDash v San Francisco

    Last Friday, the city rejected allegations that its cap of fifteen percent on the commissions that third-party food delivery service platforms charge independent restaurants contravenes state and federal law. The 33-page motion to dismiss claims that DoorDash Inc. and Grubhub Inc.’s assertions are merely a collection of related, “legally flawed ideas.”  The platforms filed suit in July, arguing that…

  • DoorDash and Uber Eats is gaining on Grubhub

    DoorDash and Uber Eats is gaining on Grubhub

    On Wednesday, the new parent company of Grubhub, Amsterdam-based Just Eat Takeaway.com, TKWY 0.33% also known as Jet, provided a third-quarter trading update. While several countries showed stellar growth, Grubhub’s business looked disappointing, setting a negative tone ahead of third-quarter earnings for DoorDash DASH 0.61% and the Uber Eats unit of Uber Technologies. UBER -2.67%…