The tech giant Amazon (NASDAQ: AMZN) has agreed to take a 2% stake in Just Eat Takeaway.com’s struggling U.S. meal delivery business Grubhub. Amazon could bump up its total stake to 15% of Grubhub based on performance terms focused on adding new customers.
Grubhub is owned by Just Eat Takeaway, Europe’s largest meal delivery company. Just Eat Takeaway bought Grubhub in 2020 for $7.3 billion. Just-Eat-Takeaway.com shares rose nearly 20 percent to €16.45 in early trading on Wednesday.
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