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Amazon (AMZN) and Just Eat Takeaway.com (TKAYF) stocks are on the move today following news of a commercial deal concerning Grubhub. The post AMZN, TKAYF: 9 Things to Know About the Amazon Grubhub Deal appeared first on InvestorPlace.
Just Eat Takeaway.com NV (LSE:JET, NASDAQ:GRUB) has entered into an agreement that allows for US-based Amazon Prime members to get free takeaway deliveries. Grubhub is Just Eats' US business and as part of the agreement, Prime members can sign up for a free, one-year Grubhub+ membership, with unlimited US$0 delivery fees from thousands of restaurants.
Amazon.com Inc (NASDAQ: AMZN) agreed to acquire a 2% stake in Just Eat Takeaway.com N.V.'s (OTC: JTKWY) struggling U.S. meal delivery business Grubhub and offer its Prime members access to the service for a year.
As part of the deal Amazon will have the option to acquire up to a 15% stake in Grubhub.
Amazon could earn a 2% to 15% stake in food delivery firm Grubhub as part of a deal with parent company Just Eat Takeaway.com that offers Amazon Prime customers a free membership to the service and no-fee delivery from select restaurants.
Amazon is taking a 2% stake in Just Eat Takeaway.com's delivery service, Grubhub, and will offer the struggling service to Amazon Prime members for a year.
Just Eat, a Netherlands-based food delivery app, is still looking for a buyer as it struggles to keep pace with delivery rivals.
Amazon.com Inc. agreed to add Grubhub to its suite of Prime services in the U.S., in a deal that also gives the e-commerce giant the option to acquire a small stake, the parent of the food-ordering company said.
Grubhub parent Just Eat Takeaway.com said it continues to explore possible sale of the U.S. meal delivery service.
Amazon tried but then ultimately stepped away from building its own cost-intensive Grubhub and DoorDash competitor in the U.S. back in 2019. Now three years on, it's taking a different approach to tackling the space to build in one more sweetener to encourage more sign-ups to its Prime subscription service.