Morning Brew Daily Grubhub Acquired to be a Part of New Super App & Advertisers Back in on 'X'?
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Nov 14, 2024 A massive loss of $6.5 billion marks Grubhub's acquisition by Wonder Group, raising questions about its future in a competitive delivery market. As some users abandon X for new platforms, brands are contemplating a return. NYC's new bill shifts broker fees from renters to landlords, potentially easing financial burdens. Additional insights include Amazon's market maneuvers, NFL bettors defying the odds, and Netflix's intriguing podcast evolution. Finally, updates on Red Lobster's hush puppies and Spotify's video venture add a dash of flavor to the discussion.
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Wonder Group's Ambitious Goal
- Wonder Group, despite being relatively unknown, aims to become a "super app for mealtime".
- Their strategy involves controlling the entire food process, from recipe development to delivery.
Grubhub's Downfall
- Just Eat Takeaway bought Grubhub for $7.3 billion in 2020, at the peak of the delivery boom.
- They now sold it for $650 million to Wonder Group, a 91% loss.
Advertisers' Return to X
- While users are leaving X, some advertisers consider returning.
- This is likely a strategic move to align with Elon Musk's influence on the new administration.