Wonder, the food delivery and food technology company founded by Marc Lore, has confidentially filed for an initial public offering, the company announced Thursday. The filing marks a significant step toward listing for a business that has spent years raising money, buying other companies, and expanding its operations. Wonder has not disclosed how many shares it intends to offer or what price range it expects for the offering.
Lore started Wonder in 2018, and the company has grown from a delivery concept into a wider food technology business. Wonder runs food hall-style locations where customers can order meals from several restaurant brands on one platform. The company manages meal preparation as well as delivery, pickup, and dine-in service.
Talk of a public listing has surrounded Wonder for some time. In July, the company said it had raised more than $650 million in a funding round that valued it at around $9 billion. Among its investors are Accel, GV, AllianceBernstein, and ARK Invest. Lore previously founded Jet.com and Diapers.com.
Wonder has also grown through acquisitions and geographic expansion. It has laid out plans to open more than 100 locations in Texas by the end of 2027. Its acquisitions include the meal-kit company Blue Apron, the restaurant delivery platform Grubhub, the media company Tastemade, and the kitchen robotics company Spyce. The Spyce deal gives Wonder access to automation technology that could help streamline food preparation and improve how food is served.
Beyond delivery, Wonder has launched Wonder Create, a platform that lets food entrepreneurs and social media influencers develop new food concepts, restaurant brands, and menu items. The platform uses AI to design and launch restaurant brands in less than a minute. Wonder has also entered a $425 million partnership with DoorDash to expand its campus dining business, which operates at 450 colleges and universities and other locations.
Going public would bring new scrutiny as Wonder competes in a crowded US food delivery market. The company faces established rivals including DoorDash and Uber Eats.
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