Exclusive: Marc Lore says Wonder is gearing up for an IPO after raising $650 million at a $9 billion valuation

Marc Lore is ready to ring the bell. The serial entrepreneur—who previously sold Jet.com to Walmart for $3.3 billion—told Fortune exclusively that his food delivery and service company Wonder will be “ready and prepared to go public early next year.” And the company has news to back it up.

Wonder, Lore’s food‑tech platform, raised a more than $650 million Series D at a $9 billion valuation, the company told Fortune exclusively. Returning investors Accel, Google Ventures, and NEA participated. New entrants include AllianceBernstein, Cathie Wood’s ARK Invest, and Kayne Anderson. Goldman Sachs, Jefferies, and J.P. Morgan served as placement agents. The round brings Wonder’s total raised to more than $3 billion since its founding in 2018.

Wonder operates 135 food halls across 10 East Coast states. Each location runs up to 30 restaurant concepts—including licensed names like Bobby Flay’s Amalfi and Tejas Barbeque—out of a single kitchen. Customers order through Wonder’s app, combining dishes from multiple concepts in one transaction, with Wonder handling cooking and last‑mile delivery itself. The company also owns Grubhub, acquired for $650 million early last year (including $500 million in assumed debt), and Blue Apron,........

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