Food Startup Wonder Confidentially Files for IPO
Food startup Wonder has confidentially filed for an initial public offering to fund further acquisitions and expand its vertically integrated restaurant network.
Wonder, a food startup founded in 2018 by entrepreneur Marc Lore, has confidentially filed for an initial public offering. The company operates a vertically integrated app and approximately 170 brick-and-mortar locations across the United States, providing delivery and takeout from more than two dozen restaurant concepts.
Wonder has utilized over $3 billion in venture funding to execute at least $1 billion in acquisitions, including Grubhub, Blue Apron, and Relay. A Series D fundraising round conducted earlier this year established a pre-money valuation of $9 billion for the company.
Marc Lore stated that the proceeds from the IPO will fund further acquisitions to make food more accessible. As part of its growth strategy, the company plans to launch Wonder Create on November 17, a service that allows brands and influencers to operate restaurant businesses within Wonder locations for a monthly fee.
