ADR Just Eat Takeaway.com N.V.GRUB$2.90 Buy
UberUBER$31.74Buy Now
DoorDashDASH$91.43Buy
CoinbaseCOIN134,85 $
Just Eat Takeaway ищет, who would like to sell Grubhub. Coinbase is late with NFT.
Disclaimer: when we talk about, that something has grown, we mean a comparison with the same quarter a year earlier. Since all issuers are from the USA, then all results in dollars. When creating the material, sources were used, inaccessible to users from the Russian Federation. We hope, Do you know, what to do.
overeat: Just Eat Takeaway wants to dump Grubhub
European food delivery platform Just Eat Takeaway is looking for a buyer for the American food delivery service Grubhub. Note: Just Eat Takeaway has been delisted from the US exchange and is now listed on the London Stock Exchange.
Just Eat Takeaway wants to sell the company for $7.3 billion. The irony of fate is, that she bought the company only a year ago for the same amount. It's even sadder, that in October 2021 activist investors, companies angered by falling stock prices, urged Just Eat Takeaway to get rid of Grubhub, but Just Eat Takeaway then strongly opposed and promised "major changes". Well, the changes have come - in the form of a sale.
Both companies were unprofitable individually - and remained unprofitable together.
This is due to increased competition in the food delivery market.. Even the pandemic did not help. If Just Eat Takeaway had £363m EBITDA in 2020, then in 2021 it became negative and amounted to minus 350 million pounds. And besides this, that the revenue has increased.
The most likely reason for Grubhub's failure is, that its main competitors from DoorDash and Uber Eats were pumped with money by venture investors for a long time and this allowed them to rapidly capture the market, not thinking about profitability. AND, by the way, there was no profit in this market, and it doesn't. So the victory of DoorDash can be considered pyrrhic.
Very interesting, where Just Eat Takeaway will find a buyer on Grubhub at a specified price. Probably, Grubhub will have to sell at a significant discount. In any case, the failure of Just Eat Takeaway should please Uber Technologies (NYSE: UBER) и DoorDash (NYSE: DASH).
Margin in this segment is not growing yet, and because of the initiatives of the largest American municipalities to limit it, it threatens to remain negative forever.
The popularity of different food delivery apps in the US
| App share in its category | Downloads, thousand | |
|---|---|---|
| by Dash | 38% | 39 000 |
| UberEats | 19% | 20 000 |
| Grubhub | 16% | 16 000 |
| Instacart | 11% | 11 500 |
| Postmates | 10% | 10 000 |
| goPuff | 3% | 2900 |
| Favor | 1% | 1400 |
| Caviar | 1% | 820 |
| Waitr | 1% | 700 |
| Seamless | 1% | 610 |
"You have a picture, man": Coinbase is now in the NFT business
Cryptocurrency exchange service Coinbase (NASDAQ: COIN) created an NFT trading platform.
So far, all NFTs on the company’s site will work on the blockchain system Ethereum - so here COIN is inferior to the largest NFT exchange OpenSea, on the platform of which other blockchain systems are also supported: Polygon, Solana and Klaytn.
On the other hand, COIN will be able to capitalize on its huge user base, amounting to almost 89 million people. For comparison: there were about a million users on the OpenSea site in January.
COIN also has no plans to charge fees for NFT transactions yet, how it compares favorably with OpenSea, which takes 2,5% from transaction. However, then COIN will still introduce commissions.
American opinion on investing in collectibles and NFTs
| I don't think it's a good investment | 49% |
| Collectibles - yes, but NFT is not | 22% |
| Both are good investments. | 22% |
| NFTs are a good investment | 8% |
49%
Basically, this innovation is quite within the logic of COIN: she has long been trying to diversify her sources of income, for example, launching structured products for cryptocurrency, but the attempts fail due to the protest of the regulators. Coming to NFT is logical for the company: this market is still regulated, like cryptocurrencies. That is, no way.
However, the question arises: was Coinbase too late?? Considering, that trading volumes on the same OpenSea are declining along with the average prices for NFTs.
Approximately one month ago, daily trading volumes in the NFT market were $400 million, and on the opening day of the NFT-platform COIN - 40 million. In parallel, COIN is working to reduce the cost of transactions in the Ethereum blockchain system.
All of these projects can bring great benefits to COIN in the future., but for now, the company's shareholders should prepare for unpleasant news about the growth of its costs.
