Amazon partners with Grubhub to offer meal delivery privileges to Prime customers
“Amazon has been trying to build its own food market for years with little success,” Ralph Schackart, an analyst with William Blair, wrote in a research note on Wednesday. “Today’s announcement looks like a potential partnership approach to establishing itself once again in space.”
Schackart also said Amazon may “look forward to acquiring Grubhub’s operations”.
In its statement on Wednesday, Just Eat Takeaway.com said it “continues to actively explore the partial or complete sale of Grubhub.” Shares of Just Eat Takeway.com, which trades in Amsterdam, rose about 13% on Wednesday.
Amazon’s moves could lead to more upheaval in the sector. DoorDash stock is down about 8% Wednesday morning on the news, and is down about 50% since the start of the year. Likewise, shares of Uber, the operator of UberEats, fell about 50% in 2022, and fell more than 4% on Wednesday morning.