Wonder Confidentially Files for IPO After Raising $3 Billion at $9 Billion Valuation
Updated
Updated · CNBC · Nov 5
Wonder Confidentially Files for IPO After Raising $3 Billion at $9 Billion Valuation
3 articles · Updated · CNBC · Nov 5
Summary
Wonder said Thursday it has confidentially filed for an IPO, setting up a public-market test for Marc Lore’s food startup after years of rapid expansion.
More than $3 billion in venture funding and a $9 billion pre-money valuation in its latest round have financed at least $1 billion of acquisitions, including Grubhub, Blue Apron and Relay.
Roughly 170 U.S. locations now serve menu items from more than two dozen restaurant brands, reflecting Wonder’s shift from mobile kitchens to a brick-and-mortar delivery and takeout network.
Nov. 17 marks the launch of Wonder Create, a $10-a-month program letting influencers, entrepreneurs and brands run virtual restaurant concepts from Wonder sites and share order revenue.
An IPO would give Wonder fresh capital for more deals, but weak consumer sentiment toward restaurant stocks and broader market volatility could bring tougher investor scrutiny.