Just Eat Takeaway sells iFood stake to Prosus for up to 1.8 billion euros

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The food delivery company’s shares rose 40 percent after the deal. Also: Doordash announces partnership with Walmart and Wayfair lays off nearly 900 employees.

The food delivery market is changing again.
Michele Tantussi/Getty Images

Good morning! Even during the weekend, work in the digital scene continued in many places.

The top topics:

Die Lieferando-Mutter Just Eat Takeaway wants her stake in the Brazilian food delivery service iFood Get rid of. The share is to be for up to 1.8 billion euros Prosus sold. With the sale, the Amsterdam-based food supplier wants to strengthen its own balance sheet and position itself positively for upcoming loan repayments. An extraordinary general meeting is to decide on the deal in the coming months.

Just Eat Takeaway shares shot up as much as 40 percent after Friday’s announcement. Dutch technology investor Prosus, which is already the majority shareholder of iFood, will gain full control of a food delivery company in one of the world’s largest markets. [Mehr bei Handelsblatt, Bloomberg und Reuters]

on Founder Scene: Anyone who only thinks of Berlin when it comes to startups is wrong. Not only does the most valuable young German company come from Munich: the “Decacorn” Celonis. Companies such as Lilium and Personio have also emerged in the vicinity of the Bavarian capital. The founders are all alumni of the Technical University of Munich. Gründerszene editor-in-chief Alex Hofmann is dem success of the Munich universities got to the bottom. [Mehr bei Gründerszene+]

And here are the other headlines of the night and the past few days:

Doordash terminates its partnership with Walmart. The food supplier had been responsible for supplying the retail company’s products for more than four years. People familiar with the matter said that Doordash terminated the partnership after the cooperation no longer brought any benefits and the delivery company wanted to focus on “its long-term customer relationships”. [Mehr bei Business Insider und Techcrunch]

Wayfair 870 employees will be laid off. The online furniture and home accessories retailer said the layoffs will affect about five percent of its global workforce and 10 percent of its management team. The Boston-based furniture store saw sales surge early in the pandemic as interest increased in renovating homes and shopping online, but the company’s active customers have since dwindled again. In the second quarter, Wayfair saw net income decline nearly 15 percent compared to its 2021 earnings as a result. [Mehr bei The Verge und Techcrunch]

Snap development of Pixy, the company’s flying camera drone, is on pause. Pixy was introduced as a new way for Snapchat users to take photos from unusual angles. The operator of the Snapchat app had tried to penetrate further into the hardware business with the product. Pixy isn’t the company’s first failure in the space. A glasses product had already created problems for the company in 2017. Snap ultimately had to write off nearly $40 million due to overstocking. [Mehr bei CNBC]

Elon Musks Neuralink seems to be an investment or possibly even a cooperation with Synchronous to try to become a developer of brain chip implants. Neuralink itself appears to have some catching up to do in directly connecting the human brain to machines. According to a media report, Musk is said to have approached the founder and CEO of Synchron, Thomas Oxley, in recent weeks to discuss a possible deal. [Mehr bei CNBC]

Lucid Motors, a California-based manufacturer of luxury electric vehicles, has unveiled its new Lucid Air Sapphire Edition. This is a sedan that, according to the company, can accelerate from zero to 60 miles per hour (almost 100 km/h) in less than two seconds. The latter would make the car more powerful than the previous record holder, the Tesla Model S Plaid. The new Sapphire Edition starts at $249,000. The first vehicles can be reserved, but deliveries are unlikely to begin until early to mid-2023. [Mehr bei The Verge]

Our reading tip on Gründerszene: Austria puts “digital basic education” on the timetable. Germany needs that too, says the founder Fredrik Harkort. [Mehr bei Gründerszene]

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Have a good start into the week!

Your Gründerszene editors

Source: https://www.businessinsider.de/gruenderszene/business/justeattakeaway-verkauft-ifood-anteil/

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