“Amazon has tried to build its own third-party food marketplace for years and did not have much success,” Ralph Schackart, an analyst with William Blair, wrote in a research note Wednesday. “Today’s announcement looks like a potential partnership approach to establish itself back in the space.”
Shackart also said Amazon could “look to acquire the Grubhub operations.”
In its statement Wednesday, Just Eat Takeaway.com said it “continues to actively explore the partial or full sale of Grubhub.” Shares for Just Eat Takeway.com, which trade in Amsterdam, surged some 13% Wednesday.
Amazon’s moves could further upend the sector. DoorDash stock fell some 8% Wednesday morning on the news, and has plummeted around 50% since the beginning of the year. Shares of Uber, operator of UberEats, has similarly fallen about 50% in 2022, and slid more than 4% Wednesday morning.
