Food startup Wonder has confidentially filed for an initial public offering, the company said Thursday.
Marc Lore created Wonder in 2018. The company describes itself as "the best restaurants from across the country, all in one place," offered for delivery and takeout through its app. Wonder has grown to roughly 170 brick-and-mortar locations across the U.S., serving menu items from more than two dozen "restaurants," some with branding from celebrity chefs.
According to the report, Wonder has spent at least $1 billion on acquisitions, including delivery service Grubhub, meal kit brand Blue Apron and logistics provider Relay. The company has raised more than $3 billion in venture funding. Its Series D round earlier this year set a pre-money valuation of $9 billion.
Lore told CNBC in September that IPO proceeds would fund more acquisitions and support Wonder's goal of making food more accessible. The report notes that as a public company, Wonder will likely face investor scrutiny, and that weak consumer sentiment and volatile markets have made the IPO market shaky.