Amazon takes stake in Grubhub, sending DoorDash shares tumbling
Amazon takes stake in Grubhub, sending DoorDash shares tumbling
By Esha Dey and Leda Alvim | Bloomberg
Food delivery company DoorDash shares sank on Wednesday after Amazon.com agreed to take a stake in rival Grubhub’s business.
The San Francisco-based startup tumbled as much as 11% in New York trading, taking the stock down more than 70% from the highs touched in November. Ride-hailing service Uber Technologies, which also has a food-delivery unit, fell over…
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