Marc Lore's Wonder Raises $650 Million, Now Worth $9 Billion
ARK Invest, AllianceBernstein and Kayne Anderson joined the round as Wonder prepares to go public in early 2027.
- Wonder bought Grubhub for about $650 million, including $500 million in assumed debt.
- Wonder projects a $618 million adjusted EBITDA loss for 2026 alone.
- A ratchet clause pays investors extra shares if the IPO underprices the round.
Why it matters: A ratchet clause guarantees the new money profits before the public ever buys a share.
Fortune (Lily Mae Lazarus) ↗ · Jul 16, 20267/16/26 · ✓ Checked✓ Check