
Amazon Takes Stake in Grubhub, Offers Prime Members One-Year Trial
Amazon has agreed to take a 2% stake in Grubhub, the Chicago-based food delivery business acquired in 2021 by Netherlands-based Just Eat Takeaway (JET). The retailing giant will also offer Amazon Prime members in the U.S. a free one-year trial for Grubhub delivery.
The agreement between Amazon and JET gives Amazon the opportunity to increase its Grubhub stake to 15%. Amazon’s stake will be in warrants, the vesting of which is subject to the satisfaction of certain performance conditions. The agreement automatically renews annually unless terminated by either Amazon or Grubhub.
Meanwhile, JET affirmed Wednesday that it’s continuing to explore a full or partial sale of Grubhub, for which it paid $7.3 billion last year. The company announced this past April that it was considering a sale.
Grubhub has attracted preliminary interest from private equity firms including Apollo Global Management, Bloomberg News reported in June.