Marc Lore's Wonder confidentially files for IPO

Summary

• Food startup Wonder confidentially filed for an initial public offering on Thursday.
• Marc Lore created Wonder in 2018 as a vertically integrated app offering delivery & takeout from multiple restaurants.
• The company has grown from a mobile kitchen concept to roughly 170 brick-and-mortar locations across the U.S.
• Locations serve menu items from more than two dozen restaurants, including some with celebrity chef branding.
• Starting Nov. 17, Wonder Create will allow influencers, entrepreneurs, & brands to launch restaurant businesses for $10 a month.
• Wonder has spent at least $1 billion on acquisitions including Grubhub, Blue Apron, & Relay, funded by over $3 billion in venture capital.
• A Series D fundraising round earlier this year established a pre-money valuation of $9 billion.
• Proceeds from the IPO will fund further acquisitions & efforts to make food more accessible.
• As a public company, Wonder faces potential investor scrutiny amid weak consumer sentiment & market volatility.
• Marc Lore previously founded Diapers.com & Jet.com, which were sold to Amazon & Walmart respectively.