Marc Lore’s Wonder bets on Texas, automation and user-built restaurants as it mulls IPO
Source: CNBC ·
Wonder is leaning into automation and user-built restaurants as founder Marc Lore prepares the startup for a potential IPO.
From the source
Less than a decade after its founding, food startup Wonder has seen its footprint and valuation soar. Still, the company has even more ambitious plans ahead, like a subscription program to let diners run their own "restaurants," an aggressive expansion in Texas and a potential initial public offering. Created by serial entrepreneur Marc Lore in 2018, Wonder advertises itself as "the best restaurants from across the country, all in one place." Diners can place takeout or delivery orders from its food hall-style locations on the Wonder-branded app or third-party platforms, including Grubhub, which Wonder now owns. As Lore described it to CNBC, "Wonder is a vertically integrated food technology platform to make great food more accessible." To achieve its goal, Wonder plans to open locations in urban, suburban and rural areas nationwide and aims to keep prices lower than the cost of delivered groceries. Thanks to its ownership of Grubhub, Wonder customers who order through the startup's…