Food delivery giant Just Eat and Amazon have unveiled a new partnership to offer Amazon Prime members access to free delivery on orders from its U.S. subsidiary Grubhub.
The agreement between the two companies, that automatically renews every year, unless it is terminated by one of the parties is expected to be able to see Amazon receive warrants for two percent of Grubhub’s equity that is fully diluted.
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The announcement comes as the British-Dutch restaurant ordering firm is looking to shed Grubhub management saying they’ll consider a complete or partial deal to sell the company.
Just Eat has come under criticism from investors due to its acquisition of the US-based Grub Hub in 2020 for $7.3bn in shares.
Shares are down by nearly 70 percent this year, and chief executive Jitse Groen was accused of being a snob in the past by some of company’s most prominent investors, including the second largest shareholder Cat Rock, for the acquisition.
