GrubHub Inc. GRUB shares are trading higher after Just Eat Takeaway.com, which is set to acquire the company, reported strong results for the first half of 2020.
Grubhub provides an online and mobile platform for restaurant pick-up and delivery orders in the United States. The company connects approximately 300,000 local restaurants with diners in various cities.
The firm generates revenue by charging restaurants a commission based on each order amount. It also charges consumers a delivery fee for orders where the firm handles the delivery.
GrubHub's stock was trading up 4.22% at $76.86 per share on Wednesday at the time of publication. The company has a 52-week high of $78.38 and a 52-week low of $29.35.
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