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July 6, 2022, 8:59 a.m. EDT

DoorDash, Uber stocks fall after Amazon inks partnership with Grubhub

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By Emily Bary

Shares of DoorDash Inc. /zigman2/quotes/222973991/composite DASH +0.50% and Uber Technologies Inc. /zigman2/quotes/211348248/composite UBER +0.06% are falling in premarket trading Wednesday after Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN -0.26% struck a partnership with Grubhub, a unit of Just Eat Takeaway.com NV /zigman2/quotes/201653805/delayed NL:TKWY +2.03% . Through the arrangement, Amazon will make Grubhub a benefit to Prime members and offer members the chance to get delivery fees waived from certain restaurants, according to The Wall Street Journal . Additionally, Amazon has an opportunity to take an initial 2% stake in Grubhub, and it could boost that stake to 15% if it hits targets around user acquisition. Just Eat shares are up more than 19% in Wednesday trading in the Netherlands, while shares of U.S.-based food delivery companies are falling premarket. Shares of DoorDash are down more than 7% and shares of Uber, which operates the Uber Eats delivery service, are off more than 3%. Just Eat still intends to look into a potential full or partial sale of Grubhub, per the Wall Street Journal report.

/zigman2/quotes/222973991/composite
US : U.S.: NYSE
$ 77.76
+0.39 +0.50%
Volume: 3.07M
Aug. 15, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$30.59 billion
Rev. per Employee
$655,698
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/zigman2/quotes/211348248/composite
US : U.S.: NYSE
$ 32.49
+0.02 +0.06%
Volume: 14.14M
Aug. 15, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$64.29 billion
Rev. per Employee
$872,014
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/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 143.18
-0.37 -0.26%
Volume: 38.93M
Aug. 15, 2022 4:00p
P/E Ratio
128.14
Dividend Yield
N/A
Market Cap
$1462.42 billion
Rev. per Employee
$302,178
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/zigman2/quotes/201653805/delayed
NL : Netherlands: Euronext Amsterdam
17.86
+0.36 +2.03%
Volume: 2.71M
Aug. 15, 2022 5:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
€3.76 billion
Rev. per Employee
N/A
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