GRUB - GRUB STOCK NEWS

Grubhub has launched the Grubhub Guarantee, ensuring diners receive on-time deliveries and the lowest prices compared to competitors. If these conditions are not met, diners receive Grubhub Perks for their next order. This initiative was based on consumer feedback highlighting the importance of timely delivery. The Grubhub Guarantee complements the recently introduced Grubhub Direct, a commission-free platform for restaurants. The launch features a national marketing campaign with endorsements from notable athletes, reaffirming Grubhub's commitment to supporting restaurants and enhancing diner experiences.

Just Eat Takeaway.com has completed the acquisition of Grubhub, marking its foray into the U.S. online food delivery market. This strategic move builds on the company's previous merger with Just Eat plc, focusing on four key markets: the United States, the United Kingdom, the Netherlands, and Germany. Grubhub stockholders received New Just Eat Takeaway.com ADSs, representing approximately 30% of total issued share capital. Following the acquisition, Grubhub's common stock was delisted from the NYSE, with the new ADSs beginning to trade on Nasdaq under the ticker symbol 'GRUB'.

Grubhub has launched the "We Serve Restaurants" initiative, reaffirming its commitment to support restaurants as they recover post-pandemic. This program emphasizes enhancing diner relationships through digital tools and aims to help small and independent restaurants grow. It features a national marketing campaign, including a heartfelt television spot showcasing the effort involved in food preparation. The initiative introduces Grubhub Direct, a platform for commission-free ordering, and the Restaurant Stronger grant program. Grubhub aims to prioritize restaurants' needs with upcoming product updates.

Grubhub's stockholders have approved the acquisition by Just Eat Takeaway.com in an all-stock transaction, creating a major player in the online food delivery market. Out of 56,521,111 shares voted, approximately 99.98% supported the merger. The final results will be filed with the SEC. Matt Maloney, CEO of Grubhub, expressed gratitude to stockholders and optimism about the transaction. The deal is expected to close on June 15, 2021, pending customary conditions. Grubhub operates a vast network of restaurants and serves 33 million active diners across the U.S.

On May 25, 2021, Grubhub announced the Restaurant Stronger program, providing $5,000 grants to independent restaurants to support their reopening post-pandemic. This initiative stems from a $2 million donation from the Grubhub Community Relief Fund, aimed at helping restaurants cover costs like staff hiring and inventory. Grant applications are open from May 25 to June 5, with distributions by June 11. This program follows a previous donation that assisted nearly 200 restaurants. With over 33 million active diners, Grubhub continues to support the restaurant industry amidst ongoing challenges.

Grubhub Inc. (NYSE: GRUB) announced the filing of a definitive proxy statement with the U.S. SEC regarding its acquisition by Just Eat Takeaway.com. The transaction, expected to close by the end of Q2 2021, aims to create a leading global food delivery company. A special meeting for Grubhub stockholders will occur on June 10, 2021, to vote on the merger. The merger benefits include enhanced scale, access to attractive markets, and improved strategic investment flexibility. Grubhub's board recommends stockholders vote in favor of the proposal.

Grubhub has launched Grubhub Direct, a commission-free platform aimed at assisting independent restaurants in establishing their online presence. The platform allows restaurants to create customized ordering websites, access diner data, and manage their branding without incurring marketing fees. Grubhub Direct includes a suite of tools such as website design, customer relationship management, and loyalty programs, all free of marketing costs. Restaurants incur only standard credit card processing fees and optional delivery charges, with no setup or monthly fees until April 2022.

Grubhub Inc. (NYSE: GRUB) reported Q1 2021 revenues of $551 million, marking a 52% increase from Q1 2020. Gross Food Sales surged 60% to $2.6 billion, with Active Diners rising 38% to 33 million. Despite these gains, the company experienced a net loss of $75.5 million, compared to a loss of $33.4 million in the same quarter last year. The upcoming acquisition by Just Eat Takeaway.com remains a focal point, with expectations for completion in the coming months.

Upper90 has raised a $55 million equity fund dedicated to eCommerce businesses. The fund will primarily support eCommerce aggregators and technology companies, aiming to optimize their capital structure for long-term growth. Led by CEO Billy Libby and Chairman Jason Finger, Upper90 aims to invest in approximately 15 eCommerce companies. The firm has a history of backing successful marketplace businesses like Thrasio and Clearbanc, enhancing startups' growth with less dilution.