Broad partnership includes DoorDash’s $300 million purchase of Grubhub Campus Dining and $125 million investment in Wonder’s Series D

DoorDash, a global leader in local commerce, and Wonder, a leading food technology platform, today announced a strategic partnership. Under the agreement, DoorDash will acquire Wonder's Grubhub Campus Dining business. In addition, DoorDash made a long-term investment in Wonder as part of its Series D round.

Grubhub Campus Dining, formerly known as Tapingo, enables millions of students to order a meal from campus dining facilities and on-campus restaurants using its mobile app or kiosks, pay for the meal with the convenience of campus dining dollars and schedule the pickup. Grubhub Campus Dining is live at more than 450 colleges and universities, serving a significant portion of U.S. higher education students. Following the close of the transaction, DoorDash intends to continue expanding Grubhub Campus Dining in the U.S., enhance the selection and convenience available to students and bring Tapingo’s vertically integrated technology stack beyond college campuses to stadiums, hotels and other similar venues. The transaction is anticipated to close by the first half of 2027, subject to customary closing conditions and regulatory review.

Additionally, DoorDash's $125 million investment adds to Wonder's $650 million Series D round announced in July, fueling Wonder's continued physical expansion and investments in technology, robotics and AI. Wonder offers more than 25 different in-house and chef-created concepts under one roof, using hardware and software to translate the craft of Michelin-starred chefs and iconic restaurants into a repeatable, machine-readable process—delivering exceptional food with consistency, quality and customization. With 157 locations across the Northeast and Mid-Atlantic regions, Wonder's footprint has more than quadrupled since the start of 2025. Wonder will expand beyond the East Coast in 2027, opening its first Texas locations in January.

"Wonder was founded to make great food more accessible. To us, that means higher-quality food at lower prices, with more choice and convenience, in more communities," said Marc Lore, Founder and CEO of Wonder. "Our partnership with DoorDash lets us continue investing in the technology, robotics and infrastructure that mission requires. Grubhub Campus Dining is a thriving business built by a great team, and DoorDash is well positioned to take it further. The partnership also allows Wonder to focus on our long-term ambition: a fully autonomous food system that can plan, produce and deliver personalized meals at scale, serving all 21 meals people eat each week."

"Our mission at DoorDash is to grow and empower local economies," said Tony Xu, Co-Founder and CEO of DoorDash. "Adding Grubhub Campus Dining to our platform will enable us to bring greater choice and convenience to college students while streamlining operations and reducing friction for universities. In addition, we’re pleased to be investing in Wonder as they continue to expand access to world-class food for communities across the nation."

Latham & Watkins LLP and Fenwick & West LLP served as legal counsel and J.P. Morgan Securities LLC acted as exclusive financial advisor to Wonder. Wilson Sonsini Goodrich & Rosati P.C. served as legal counsel and RBC Capital Markets served as a financial advisor to DoorDash.

About Wonder

Wonder is a vertically integrated food technology platform built to make great food more accessible. From recipe development to kitchen robotics and autonomous delivery, Wonder owns mealtime from end to end, bringing a level of consistency, quality and speed to new geographies and at price points unattainable by traditional restaurants and delivery platforms. Wonder offers in-house and chef-created concepts, iconic restaurant brands, local restaurants for delivery nationwide and at-home meal kits in one seamless customer experience, with the aim of becoming the world's first choice for every meal. To learn more, visit the Wonder Newsroom and LinkedIn page.

About DoorDash

DoorDash (NASDAQ:DASH) is one of the world's leading local commerce platforms that helps businesses of all kinds grow and innovate, connects consumers to the best of their neighborhoods, and gives people fast, flexible ways to earn. Since its founding in 2013, DoorDash has expanded to more than 40 countries, using technology and logistics to shape the future of local commerce and broaden access to opportunity. With a growing international presence that now includes Deliveroo and Wolt, DoorDash combines global scale with local expertise to serve communities around the world.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events, and such statements in this communication include, but are not limited to, expectations regarding DoorDash's anticipated acquisition of Grubhub Campus Dining; the opportunity and expected benefits of DoorDash's long-term investment in Wonder and the strategic partnership between Wonder and DoorDash; and expectations regarding DoorDash's financial position and financial and operating performance, including its financial outlook. Expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, the ability to complete the acquisition of Grubhub Campus Dining and obtain requisite regulatory approval. For information on potential risks and uncertainties that could cause DoorDash's actual results to differ from any results predicted, please see DoorDash's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, each filed with the Securities and Exchange Commission.

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