Wonder, a food technology company founded in 2018 by Marc Lore, has confidentially filed for an initial public offering. The startup, which operates food hall-style locations and manages end-to-end meal services, has not yet disclosed the number of shares or the expected price range for the offering.
The company previously secured over $650 million in a funding round in July, reaching a valuation of approximately $9 billion. Key investors in the business include Accel, GV, AllianceBernstein, and ARK Invest. Lore, known for founding Jet.com and Diapers.com, has long signaled his intent to take the company public.
Wonder has pursued an aggressive expansion strategy through several acquisitions, including Blue Apron, Grubhub, Tastemade, and kitchen robotics firm Spyce. The company plans to open over 100 new locations in Texas by the end of 2027. Additionally, it maintains a $425 million partnership with DoorDash for campus dining operations.
The firm also operates Wonder Create, a platform that utilizes artificial intelligence to assist influencers and entrepreneurs in developing restaurant brands and menu items. Despite its growth, the company faces significant competition from established delivery platforms like Uber Eats and DoorDash as it prepares to enter the public market.
