Food delivery startup Wonder files for IPO as it explores its next big bite

0:01This is TechCrunch.

0:10This episode is brought to you by Framer. Whenever the end of the year creeps up, things get hectic. You've got holiday sales to plan and projects to carry over the finish line. The last thing you should have to worry about is your website. With Framer, you don't have to. Framer is the AI website builder that helps creators, teams, and businesses ship production-ready sites faster than ever while getting every detail right. Prompt, inspect, edit, and publish in one place at a whole new pace. And it's easy to improve and update things, even after launching. With their AI agents and your team working together, managing a website is a cinch.

0:50So you can focus on other important things, like savoring that last bit of pumpkin pie. From early startups to Fortune 500 companies, thousands are turning to Framer to build a website they'll love. Learn how you can get more out of your site from a Framer specialist or get started building for free today at framer.com slash tcstartups for 30 % off a Framer Pro annual plan. That's framer.com slash tcstartups for 30 % off. Rules and restrictions may apply. Food delivery startup Wonder is moving closer to becoming a publicly traded company after confidentially filing for an initial public offering.

1:30The company announced the filing on Thursday, marking a major milestone following years of fundraising, acquisitions, and expansion. Wonder has yet to reveal how many shares it plans to make available or the expected price range. Founded back in 2018 by entrepreneur Mark Lohr, Wonder has evolved from a food delivery concept into a broader food technology business. Its model goes beyond traditional delivery apps, with the company operating food hall-style locations where customers can order meals from multiple restaurant brands through a single platform. The company handles everything from meal prep to delivery, pickup, and dine-in service.

2:16Lore, who previously founded Jet.com and Diapers.com, has made no secret of his plans to take Wonder public. Those ambitions gained further attention back in July, when the company announced it had raised more than$650 million in a funding round that valued it at around$9 billion. Investors include Excel, GV, Alliance Bernstein, and ARK Invest. Meanwhile, Wonder has been busy expanding its footprint and strengthening its business through acquisitions. The company has outlined ambitious growth plans, including a major push into Texas, where it aims to open more than 100 locations by the end of next year.

2:56Additionally, Wunder has acquired meal kit company Blue Apron, restaurant delivery platform Grubhub, media company Tastemade, and kitchen robotics company Spice. The latter acquisition gives Wunder access to automation technology that could help streamline food prep and improve how food is served. Wunder is also branching out with Wunder Create, its platform focused on letting food entrepreneurs and social media influencers develop new food concepts, restaurant brands, and menu items. The platform leverages AI to design and launch restaurant brands in less than a minute. Another notable move is its$425 million partnership with DoorDash to expand its campus dining business, which operates at 450 colleges and universities and other locations.

3:50Despite its growth, a move into the public markets will bring new challenges. Wander is operating in an increasingly competitive food delivery landscape, going up against established names such as DoorDash and Uber Eats. Electric truck startup Harbinger has raised a$240 million Series D funding round as it expands its portfolio of products, including battery storage and defense applications. The funding comes almost a year to the day after the Los Angeles-based company announced a$160 million Series C, which included an initial truck order from FedEx. Harbinger has now raised more than$650 million to date.

4:34That's according to Bloomberg News, which first reported the round. The Series D was co-led by Tiger Global, Capricorn's Technology Impact Fund, and defense-focused firm Ridgeline. FedEx invested again after leading last year's round, and other repeat investors include Maneave, Graycroft, and Leitmotiv, a VC firm backed by Volkswagen. Also investing this time was institutional giant Fidelity Management, which tends to invest in pre-IPO startups. Harbinger is reportedly weighing going public. Now, while it did not lead this round, FedEx's relationship with Harbinger continues to deepen. The shipping giant's senior vice president of safety and transportation, Paul Melander, has joined Harbinger's board of directors.

5:23FedEx also recently placed its first large order with Harbinger, a deal for 2 ,000 trucks valued at more than$300 million. dollars. Founded back in 2022 by former employees of now-defunct EV startup Canoe and battery company QuantumScape, Harbinger started by focusing on making one electric truck chassis. The company has steadily expanded its efforts since then. It bought autonomy startup Phantom AI, has begun developing hybrid emergency vehicles, and revealed a driverless hybrid electric platform for the military. That's all for now. For the latest in startup tech news, go to TechCrunch.com.

6:26flavors in the autumn harvest bowl, maple glazed salmon plate, and roasted bacon Brussels side. The season's most desirable menu has returned to Sweetgreen, featuring fall's best dressed. Make your move. Order on the Sweetgreen app.