Food delivery startup Wonder files for IPO as it explores its next big bite

Summary

• Wonder confidentially filed for an initial public offering (IPO) on Thursday.
• The company has not yet disclosed the number of shares to be made available or the expected price range.
• Marc Lore founded Wonder in 2018, evolving it from a food delivery concept into a food technology business operating food hall-style locations.
• Wonder handles meal preparation, delivery, pickup, & dine-in service through a single platform.
• The company raised more than $650 million in a funding round in July that valued it at around $9 billion.
• Investors in Wonder include Accel, GV, AllianceBernstein, & ARK Invest.
• Wonder plans to open more than 100 locations in Texas by the end of 2027.
• Acquisitions include meal-kit company Blue Apron, restaurant delivery platform Grubhub, media company Tastemade, & kitchen robotics company Spyce.
• Wonder Create is a platform using AI to help food entrepreneurs & influencers develop new food concepts & restaurant brands in less than a minute.
• Wonder entered a $425 million partnership with DoorDash to expand its campus dining business at 450 colleges, universities, & other locations.
• Wonder competes in a food delivery landscape against established names such as DoorDash & Uber Eats.