Marc Lore's Wonder files confidentially for a US IPO; the company, which acquired Grubhub for $650M in 2025, raised $650M at a $9B pre-money valuation in July
THE SO WHAT
A confidential IPO filing from Wonder, fresh off a $650M Grubhub acquisition and a $9B pre-money raise, is a scale bet on full-stack food delivery economics. If this listing prices well, expect copycats in other local services to pursue M&A-heavy rollups before going public.
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