The Information reports that Amsterdam-based food delivery company Just Eat Takeaway is considering the sale of Grubhub, the US food delivery company that it acquired in 2020.
The move - which technically is being positioned as "actively exploring the introduction of a strategic partner into and/or the partial or full sale of Grubhub" - because of sluggish results related to a post-pandemic slowdown in take-out orders. Just Eat Takeaway also is said to be more focused on growing its European business, seeing the US as a distraction.
- KC's View:
One interesting note that shows how the worm has turned. Just Eat Takeaway acquired Grubhub two years ago for $7.3 billion. Just Eat Takeaway's current total market valuation is $6.8 billion.
There are, of course, going to be ebbs and flows in how these companies fare. But I think it would be foolish for folks to think that the category is a sinking ship that they should abandon.