In section Market Quotes
Wonder Group has confidentially filed for an initial public offering, beginning the process for a potential stock market debut as the New York-based food hall company expands its restaurant footprint and automates operations. The company has not set the size or price range of the proposed offering.
Wonder disclosed the filing Thursday. A spokesperson declined to comment further, citing Securities and Exchange Commission quiet-period restrictions.
Founded by billionaire and former Walmart executive Marc Lore, Wonder announced a $650 million Series D funding round in July at a pre-money valuation of $9 billion. Lore said in an August interview that the company would target an IPO in 2027.
Wonder operates eateries offering menus from multiple restaurant concepts and celebrity chefs. It has recently focused on efficiency measures, including robots that make salads and sauces. The company expects automation to help lower prices and strengthen its competitive position.
Delivery is central to much of Wonder’s business. The company owns GrubHub, a food delivery platform, and meal kit company Blue Apron.
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