Wonder Acquires Tastemade to Transform Mealtime Experience
In a strategic move to enhance its offerings, food-delivery company Wonder has announced its acquisition of the independent media firm Tastemade. This acquisition is poised to revolutionize how consumers experience mealtime through a digital super app.
Financial Details of the Deal
While the exact financial terms of the acquisition remain undisclosed, sources indicate that Wonder has purchased Tastemade for approximately $90 million. The Wall Street Journal reports that Tastemade previously raised around $131 million from a variety of prominent investors, including Amazon and Goldman Sachs.
Expanding Content and Audience Reach
Wonder aims to leverage Tastemade’s extensive content library and a substantial audience of 160 million followers on social media as well as 13 million monthly viewers across streaming platforms. The integration is expected to support Wonder’s vision of creating a comprehensive super app that will enhance the mealtime experience.
Leadership and Structural Integration
With the merger, Tastemade’s co-founders, Larry Fitzgibbon and Steven Kydd, will join Wonder in executive positions. Fitzgibbon will maintain his role as CEO of Tastemade while also taking on the title of EVP of Wonder Media, Advertising and Content. Kydd will serve as president and head of business development at Tastemade.
Tastemade’s Multimedia Presence
Established in 2012 and headquartered in Los Angeles, Tastemade operates four ad-supported streaming channels, including Tastemade, Tastemade Home, Tastemade Travel, and Tastemade en Español. These channels reach over 250 million households globally and feature more than 1,000 hours of original content, showcasing notable chefs like Andrew Zimmern and Jamie Oliver.
Strategic Vision for the Future
Wonder has successfully raised a total of $1.6 billion in funding since its inception in 2018 and previously announced its intention to acquire Grubhub for $650 million. This latest acquisition aligns with CEO Marc Lore‘s ambitions to develop a mealtime super app, integrating media and delivery capabilities.
“Wonder’s acquisition of Tastemade is the next step in our vision to create the super app for mealtime,” said Lore. “Tastemade has built an expansive audience, award-winning creative studio and incredible network of partners that will enable Wonder to create more curated digital experiences.”
Future Collaborations and Opportunities
Tastemade plans to utilize Wonder’s resources to forge new content initiatives, tapping into relationships with renowned chefs such as Bobby Flay and José Andrés. This collaboration aims to produce engaging new shows for both Tastemade’s platforms and Wonder’s customer base.
“This acquisition represents an incredible opportunity for both Tastemade and Wonder to leverage our strengths and elevate our storytelling and retail capabilities to new heights,” said Fitzgibbon. “Together, we will build a platform that seamlessly merges the joy of watching with the convenience of having dinner delivered right to the door.”
Pictured above: Chef Jamie Lauren in Tastemade’s “Make This Tonight”