Troubled Grubhub's Parent Company Seeks Investment Partner: WSJ - Just Eat Takeaway.com (OTC:TKAYF)

Dutch multinational online food ordering and delivery company Just Eat Takeaway.com NV TKAYF is hit by doubts about whether it can sell its U.S. operation, Grubhub Inc.
As per Wall Street Journal, Grubhub CEO Adam DeWitt said the company's parent hopes to find a strategic partner, though a divestiture cannot be ruled out.
In some of his first public remarks about the company since Just Eat said in April it would consider selling Grubhub, as its U.S. division encounters challenges.
"It's more about finding a way to help us grow than it is necessarily about the sale," Mr. DeWitt said Tuesday at The Wall Street Journal's Global Food Forum.
According to Grubhub, it lost market share as diners worked from home in the suburbs, where its rivals have the upper hand and fewer big chain restaurants on its app.
The CEO also defends free-lunch promotion in New York City, even though orders overwhelmed some restaurants leaving many diners angry.
Mr. DeWitt said the company aims to balance making money off orders and helping operators make money amid 30% commissions charged to restaurants.
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