How Wonder plans to change the at-home dining experience
03/27/2024 05:01Food delivery startup Wonder has raised $700 million in its latest round of funding. CEO Marc Lore joins Yahoo Finance's Executive Editor Brian Sozzi on the Live show to discuss the company's investment plans for this funding. Lore states that Wonder is looking towards expansion with the $700 million, saying they've "proven the business model." He reveals that they are planning to open 80 new units over the next two years, continuing to invest in research and development, enhancements, and expansion plans, in order to take things "to the next level." Lore explains that an automated Wonder will give consumers the ability to order from multiple restaurants in a single checkout and delivery, with a promise of a 6-minute delivery range, "delivered hot to your door." He emphasizes that the mission is "to make great food more accessible," noting that by bringing together different restaurant partners they are giving people access to dining options that would not typically exist in the areas they operate. Lore acknowledges that "customer behavior is changing," with people placing more value on convenience. He notes that the food delivery trend will continue to grow both domestically and internationally, and Wonder presents him with an opportunity to "vertically integrate" in this space. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
Food delivery startup Wonder has raised $700 million in its latest round of funding. CEO Marc Lore joins Yahoo Finance's Executive Editor Brian Sozzi on the Live show to discuss the company's investment plans for this funding.
Lore states that Wonder is looking towards expansion with the $700 million, saying they've "proven the business model." He reveals that they are planning to open 80 new units over the next two years, continuing to invest in research and development, enhancements, and expansion plans, in order to take things "to the next level."
Lore explains that an automated Wonder will give consumers the ability to order from multiple restaurants in a single checkout and delivery, with a promise of a 6-minute delivery range, "delivered hot to your door." He emphasizes that the mission is "to make great food more accessible," noting that by bringing together different restaurant partners they are giving people access to dining options that would not typically exist in the areas they operate.
Lore acknowledges that "customer behavior is changing," with people placing more value on convenience. He notes that the food delivery trend will continue to grow both domestically and internationally, and Wonder presents him with an opportunity to "vertically integrate" in this space.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith