Food delivery startup Wonder is moving closer to becoming a publicly traded company after confidentially filing for an initial public offering (IPO). The company announced the filing Thursday, marking a major milestone after years of fundraising, acquisitions and expansion.
Wonder has not yet revealed the number of shares it plans to make available or the expected price range.
Founded in 2018 by entrepreneur Marc Lore, Wonder has grown from a food delivery concept to a broader food technology company. Its model goes beyond traditional delivery apps, with the company operating food hall-style locations where customers can order meals from multiple restaurant brands through a single platform. The company takes care of everything from meal preparation to delivery, pickup and catering.
Lore, who previously founded Jet.com and Diapers.com, has made no secret of his intention to take Wonder public. Those ambitions gained more attention in July, when the company announced it had raised more than $650 million in a funding round that valued it at around $9 billion. Investors include Accel, GV, AllianceBernstein and ARK Invest.
Meanwhile, Wonder is working to expand its presence and strengthen its business through acquisitions. The company has outlined ambitious growth plans, including a major push into Texas, where it aims to open more than 100 locations by the end of 2027.
Additionally, Wonder acquired meal kit company Blue Apron, restaurant delivery platform Grubhub, media company Tastemade and kitchen robotics company Spyce. This latest acquisition gives Wonder access to automation technology that could help streamline food preparation and improve the way food is served.
Wonder is also expanding with Wonder Create, its platform aimed at enabling food entrepreneurs and social media influencers to develop new food concepts, restaurant brands and menu items. The platform leverages AI to design and launch restaurant brands in less than a minute.
Another notable initiative is its $425 million partnership with DoorDash to expand its campus dining business, which operates at 450 colleges and universities and elsewhere.
Despite its growth, entering public markets will bring new challenges. Wonder is operating in an increasingly competitive food delivery landscape, taking on established names like DoorDash and Uber Eats.
When you purchase through links in our articles, we may earn a small commission. This does not affect our editorial independence.
Gn bussni
