Amazon.com Inc has secured the right to buy a 2 per cent stake in Just Eat Takeaway.com's Grubhub and will offer no-fee access to the service for a year to U.S. Prime members, hoping to boost subscriptions with a renewed push into meal delivery.
Shareholders have demanded it sell or find a partner for Grubhub, which it bought last year for $5.8 billion. Demand has waned since the height of the pandemic, and it has lost market share to Doordash and Uber Eats. In a note on the Amazon deal, analysts from JPMorgan said it would bring new customers and strengthen Grubhub's position in the United States, comparable to a partnership Amazon has in Britain with Just Eat rival Deliveroo.
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