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Top related persons:
Marc Lore - 2 Grubhub - 1 Lina M - 1 Khan - 1 “ - 1 Grubhub’s - 1 Reuters — - 1 ” Bryan Garnier - 1
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Federal Trade Commission - 1 FTC - 1 Wonder Group - 1 Walmart - 1 Wall - 1 JPMorgan - 1

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2 mentions found


☆ Grubhub to pay $25 million to settle charges it allegedly misled diners and drivers about meal costs and pay
  + stars: | 2024-12-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Rob Wile | ) www.nbcnews.com   time to read: +3 min
Grubhub will pay $25 million to settle charges it misled customers about the cost of their delivery and drivers about how much they could earn on the food-delivery platform. Grubhub also allegedly engaged in false advertising to attract drivers, citing hourly pay rates "well above what drivers could realistically expect to earn," according to a release accompanying the civil complaint. Finally, Grubhub falsely advertised restaurants on its platform that had not signed up with it. “Today’s action holds Grubhub to account, putting an end to these illegal practices and securing nearly $25 million for the people cheated by Grubhub’s tactics. The agencies had sought a $140 million judgment against the company, but reduced it to what Grubhub is able to pay, the agencies said.
Persons: Grubhub, Lina M, Khan, “, Grubhub’s, Marc Lore Organizations: Federal Trade Commission, FTC, Wonder Group Locations: Illinois, Chicago
☆ Grubhub just sold for $650 million. Four years ago it was worth $7.3 billion
  + stars: | 2024-11-13 | by ( ) edition.cnn.com   time to read: +2 min
Reuters —Europe’s biggest meal delivery firm, Just Eat Takeaway, said on Wednesday it had struck a deal to sell its U.S. unit Grubhub to Wonder for $650 million, sending its shares soaring 20% in early trading. “Just Eat Takeaway is at last putting an end to its disastrous U.S. journey,” Bryan Garnier analyst Clement Genelot said, noting the group had destroyed more than $7 billion in shareholder value there. Grubhub’s enterprise value of $650 million includes $500 million of senior notes and $150 million cash, Wonder said in a statement. Just Eat CEO Jitse Groen had in February said the M&A environment was not easy in the U.S., where fee caps cost the group some $100 million per year. JPMorgan said in a note it had argued for an about $1.2 billion valuation for Grubhub in the past, but the market would view the long-awaited deal as positive even at a lower valuation.
Persons: Reuters —, ” Bryan Garnier, Clement Genelot, Wonder, Marc Lore, Jitse Groen, DoorDash, Uber Organizations: Reuters, Walmart, Wall, JPMorgan Locations: Amsterdam, Chicago, New York City, U.S, Australia, Canada, New Zealand, France, Tuesday’s
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