Food startup Wonder has confidentially filed for an initial public offering, the company announced Thursday. Wonder operates roughly 170 brick-and-mortar locations across the U.S., serving menu items from more than two dozen "restaurants" through its app for delivery and takeout. The company was created by serial entrepreneur Marc Lore in 2018.
Starting Nov. 17, Wonder plans to launch Wonder Create, a service allowing influencers, entrepreneurs and brands to pay $10 a month to start their own restaurant business based out of a Wonder location and earn a portion of revenue from orders.
Wonder has raised more than $3 billion in venture funding. Its Series D round earlier this year valued the company at $9 billion on a pre-money basis. The company has spent at least $1 billion on acquisitions including delivery service Grubhub, meal kit brand Blue Apron and delivery provider Relay.
Lore told CNBC in September that IPO proceeds will fund more acquisitions and efforts to make food more accessible. Wonder will face investor scrutiny as a public company, however. Weak consumer sentiment has pressured restaurant stocks recently, and market volatility has created a shaky IPO market across industries.
Lore previously founded Diapers.com and Jet.com, which he sold to Amazon and Walmart.