Amazon's Deal With Grubhub Makes Life Tougher for Uber and DoorDash [MarketWatch]
DoorDash, Inc. (DASH)
Company Research
Source: MarketWatch
That terribly timed deal has been a bust, coming just as the Covid-era boom in meal delivery began to cool. Just Eat has begun looking for a buyer for Grubhub — likely at a much lower price than it paid. Among other issues, Grubhub has been losing U.S. market share to rivals DoorDash and Uber But the story took a new turn Wednesday, when Amazon (ticker: AMZN) and Just Eat (JTKWY) said that effective immediately , U.S. Amazon Prime members can sign up for a free Grubhub+ membership, which includes no-cost delivery from “hundreds of thousands” of restaurants. Grubhub+ typically costs $9.99 a month. DoorDash and Uber shares are selling off on the news. While Grubhub is a distant number three in the U.S. food delivery market, there are obviously concerns that the Amazon deal could improve Grubhub's competitive position. Goldman Sachs estimates that Amazon has 82 million U.S. Prime subscribers — an alluring pool of potential new Grubhub subscribers. Goldman notes that there are about
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DASH
Earnings
- 2/15/24 - Miss
DASH
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- DASH's page on the SEC website