and Grubhub, both founded in the early 2000s, were some of the earliest entries in the sector. The merger will let the companies share technology and marketing costs and provide the broadest range of services to restaurants and consumers, the companies said. Matt Maloney, Grubhub’s founder and CEO, will join Just Eat ’s board and will lead the company’s North American business, the companies said. That doesn’t mean we are interested in doing any deal, at any price, with any player,” Uber said in a statement. “Like ridesharing, the food delivery industry will need consolidation in order to reach its full potential for consumers and restaurants. food delivery business, but could have run into snags with regulators. If Uber had succeeded in buying Grubhub, it would have given the companies control over a majority of the U.S. Grubhub shares closed at $59.05 Wednesday. Grubhub shareholders will receive depository receipts representing a portion of shares in the new company. Just Eat said it will acquire 100% of Grubhub’s shares at an implied value of $75.15 per share. Combined, they will be the largest restaurant delivery company outside China. Just Eat and Grubhub processed 593 million restaurant orders in 2019 and have about 70 million users worldwide.
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