Billionaire entrepreneur and Wonder CEO Marc Lore has confirmed that his food and restaurant technology startup is planning an initial public offering (IPO) in early 2028. Speaking at Fast Company’s Most Innovative Companies Summit in New York, Lore revealed that the company is working backward from a target date of March 30, 2028, for the IPO.
To prepare for the public offering, Wonder plans to ‘look and act like a public company’ by the end of 2027. This includes having a full board of directors in place and practicing quarterly earnings calls, EPS guidance, and other responsibilities of a public company. Lore emphasized the importance of ‘getting four quarters of practice’ to build the necessary infrastructure.
Lore predicts significant growth for Wonder, with projected revenue of $5 billion in 2028 and additional ‘big growth’ in 2029. The company, described as an ‘Amazon for food and beverage,’ has been revolutionizing the food and restaurant space with its vertically integrated food delivery app and brick-and-mortar restaurants. Wonder has recently secured $600 million in funding, valuing the company at $7 billion post-funding.
The startup has also made significant acquisitions, including Blue Apron, Grubhub, and Tastemade. Lore expressed excitement about having ‘public currency’ to fuel further growth and make large acquisitions post-IPO. With a history of successful ventures, including the sale of Jet.com to Walmart, Lore is poised to make a significant impact in the food tech industry with Wonder’s upcoming IPO.
