Wonder confidentially files for IPO after $9 billion valuation

More than a delivery app

Founded in 2018, Wonder has grown beyond a conventional delivery service. It runs food hall-style locations where customers can order from several restaurant brands through one platform, and it handles preparation, delivery, pickup and dine-in service.

The company has also bought its way into new areas: meal-kit company Blue Apron, delivery platform Grubhub, media company Tastemade and kitchen robotics company Spyce. The Spyce deal gives Wonder automation technology that could streamline food preparation and serving. Its Wonder Create platform lets food entrepreneurs and social media influencers develop restaurant brands and menu items, using AI to launch a brand in less than a minute.

Growth plans and competition

Wonder plans a major push in Texas, where it aims to open more than 100 locations by the end of 2027. It also has a $425 million partnership with DoorDash to expand its campus dining business, which operates at 450 colleges and universities and other sites.

Public markets will bring new pressure. Wonder competes in a crowded delivery market against established players such as DoorDash and Uber Eats, and investors will now get a closer look at whether its broader food technology model can compete at scale.