Grubhub is one of the most recognized names among every food delivery app in America, but few people know who stands behind it today. In just five years it went from a public company to a $7.3 billion purchase, then to a $650 million bargain sale. Its latest owner is already preparing for an IPO.
Who Owns Grubhub in 2026?
Grubhub is owned by Wonder Group, Inc., the food-tech company led by founder and CEO Marc Lore. Wonder bought Grubhub from Just Eat Takeaway.com in January 2025 and owns it 100%. Wonder itself is a privately held company, so Grubhub’s ultimate owners are Wonder’s investors.
Neither Grubhub founder owns it anymore. Lore is a serial entrepreneur who sold Diapers.com to Amazon and Jet.com to Walmart for $3.3 billion. Wonder is his next big bet, built around food halls, delivery, and what he calls a “super app” for mealtime.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Stake | Key Detail |
|---|---|---|---|
| Wonder Group, Inc. | Direct parent | 100% of Grubhub | Acquired January 2025 for $650M enterprise value |
| Marc Lore | Founder, CEO, largest individual shareholder of Wonder | Exact stake undisclosed | Invested his own money in the 2026 Series D |
| Accel, GV, NEA | Venture investors in Wonder | Undisclosed | Returning backers in the July 2026 round |
| ARK Invest, AllianceBernstein, Kayne Anderson Rudnick | New Series D investors | Undisclosed | Joined the $650M round in July 2026 |
| Nestlé | Corporate investor in Wonder | Undisclosed | Backed Wonder’s earlier funding |
| Howard Migdal | Grubhub CEO | No ownership | Runs Grubhub as a Wonder subsidiary |
| Just Eat Takeaway.com | Previous owner (2021–2025) | Exited January 2025 | Bought for ~$7.3B in stock; sold for $650M |
From Chicago Startup to Public Company
Matt Maloney and Mike Evans founded Grubhub in Chicago in 2004 as an alternative to paper menus. They won first place in a University of Chicago Booth School of Business competition in 2006, which helped launch the company.
Meanwhile, rival Seamless was acquired by Aramark in 2006, with private equity firm Spectrum Equity later taking a minority stake. Grubhub and Seamless merged in 2013, and the combined company listed on the New York Stock Exchange in 2014 under the ticker GRUB, at a valuation of about $2 billion. Grubhub also bought Eat24 and LevelUp along the way.
The Just Eat Takeaway Years
In June 2020, European giant Just Eat Takeaway.com agreed to buy Grubhub for about $7.3 billion in stock, reportedly beating Uber to the deal. The purchase closed in 2021, and the GRUB ticker was retired.
The timing was bad. Pandemic demand faded, orders declined, and by 2022 the company was already exploring a sale. Its parent has since changed too: Prosus completed its €4.1 billion takeover of Just Eat Takeaway in October 2025.
How Wonder Bought Grubhub
Wonder announced the deal in November 2024. The price was $650 million, made up of $150 million in cash and $500 million in senior notes that Wonder took on.
Just Eat Takeaway confirmed the completed sale on January 7, 2025, and netted up to $50 million. Restaurant Business reported the deal brought about 375,000 merchants into Wonder. That was roughly 91% less than the price Just Eat Takeaway paid four years earlier.
Who Backs Wonder Today
Wonder raised a $650 million Series D in July 2026 at a $9 billion pre-money valuation, as Fortune first reported. Returning investors Accel, NEA, and GV, the venture arm of Alphabet, joined new backers including ARK Invest. Goldman Sachs, Jefferies, and J.P. Morgan acted as placement agents.
Earlier backers include Nestlé, and CNBC reports that DoorDash, a Grubhub rival, is also among Wonder’s investors. Wonder also owns Blue Apron, bought in 2023 for $103 million.
Will Grubhub Go Public Again?
Not on its own. Grubhub sits inside Wonder, so any listing would be a Wonder IPO. Lore has said Wonder will be ready to go public in early 2027, and CNBC reported on October 25, 2026 that Wonder has raised about $3.3 billion in total. It runs more than 160 food halls across 10 states, with Texas next in 2027.
On the delivery side, Wonder is testing drones with Zipline and sidewalk robots with Serve Robotics to cut costs. That matters because Grubhub still competes against Uber Eats and DoorDash for the same restaurant customers.
Frequently Asked Questions (FAQs)
Q1. Who owns Grubhub in 2026?
Wonder Group, Inc., led by founder Marc Lore, owns 100% of Grubhub.
Q2. When did Wonder buy Grubhub?
The deal was announced in November 2024 and completed on January 7, 2025.
Q3. How much did Wonder pay for Grubhub?
Wonder paid $650 million, made up of $150 million in cash and $500 million in senior notes.
Q4. Who owned Grubhub before Wonder?
Just Eat Takeaway.com owned it from 2021 until January 2025, after buying it for about $7.3 billion.
Q5. Who founded Grubhub?
Matt Maloney and Mike Evans founded Grubhub in Chicago in 2004.
Q6. Is Grubhub publicly traded?
No, its GRUB ticker was retired when Just Eat Takeaway bought it in 2021.
Q7. Who is the CEO of Grubhub?
Howard Migdal leads Grubhub as CEO under Wonder.
Q8. Will Wonder or Grubhub go public?
Marc Lore is targeting a Wonder IPO in early 2027, and no listing has happened yet.
Grubhub is 100% owned by Wonder Group, Inc., led by Marc Lore, which bought it from Just Eat Takeaway.com for $650 million in January 2025. Wonder is backed by Accel, GV, NEA, ARK Invest, and others, and was valued at $9 billion in July 2026. Grubhub’s next ownership change will likely come through a Wonder IPO, which is targeted for early 2027.
Official Website: grubhub.com