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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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.
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.
X User Exodus
- After the US election, 115,000 users deleted their X (formerly Twitter) accounts in one day.
- Many migrated to BlueSky, a rival platform, which gained 1.25 million signups that week.