According to a news release from Yelp Inc. and Grubhub Inc., the two companies are joining forces via a long-term partnership “designed to capitalize on each company's unique assets and propel online takeout and delivery.”
The Verge reports Yelp has agreed to sell to Grubhub its food ordering company, Eat24, for $287.5 million— which is a little over double what it bought the startup for back in 2015.
The industry is paying attention to see how things will change for better or for worse, especially now that Grubhub will own a majority of the food delivery market. One thing is for certain, though, Yelp customers are benefiting the most from this deal.
Now, for at least five years, this new partnership will allow Yelpers order food through Grubhub, while the online-food-ordering leader expands its marketplace for a combined access to 75,000 restaurants or so around the country thanks to the Eat24 acquisition.
To understand the market a little better, Foodable Labs tracked the social sentiment on quality, speed, accuracy and value as it pertained to Grubhub and UberEATS, the company’s biggest rival, to determine the overall sentiment score for each company. UberEATS, whose access is estimated at 31,200 restaurants, scored a 74.8 out of 100, while Grubhub received a 61.2 score, trailing behind by a 13.6 point difference.
To learn more about Foodable Labs, click here.