Wonder files confidentially for IPO as food delivery startup explores its next bite | TechCrunch
Confidential filing moves forward
Wonder announced Thursday that it had confidentially filed for an initial public offering. The filing marks a step toward becoming a publicly traded company after years of fundraising, acquisitions and expansion.
The company has not said how many shares it expects to offer or what price range it may set. Founder Marc Lore has previously made clear that he wants to take Wonder public.
From delivery to food technology
Lore founded Wonder in 2018. The business has developed beyond a conventional food delivery concept, operating food hall-style locations where customers can order from several restaurant brands through one platform.
Funding, acquisitions and expansion
In July, Wonder said it had raised more than $650 million in a funding round that valued the company at about $9 billion. Investors include Accel, GV, AllianceBernstein and ARK Invest.
New platforms and market competition
A $425 million partnership with DoorDash is intended to expand Wonder’s campus dining business, which serves 450 colleges and universities and other locations. Wonder will face competition from established services including DoorDash and Uber Eats as it considers entering public markets.
Key points
- Wonder has confidentially filed for an IPO but has not disclosed offering details.
- The company’s July funding round valued it at about $9 billion.
- Wonder aims to open more than 100 Texas locations by the end of 2027.
- Its campus dining business serves 450 colleges and universities and other locations.