According to a source familiar with the financing, the company's founder and CEO, Marc Lore, plans to personally invest $200 million in this funding round.
Wonder, the parent company of food delivery platform GrubHub and prepared meal brand Blue Apron, is currently raising a new funding round worth hundreds of millions of dollars, which would value the company at $9 billion post-money.
To attract institutional investors, Wonder has included an IPO ratchet compensation clause. This provision states that if the startup's eventual public offering price is less than 1.5 times the price per share in this current round, investors will receive additional compensatory shares. The company implemented a similar protective clause during its Series C funding round last year.
The report indicates that existing investor Nuveen AMT-Free Municipal Income Fund (NEA) intends to co-lead this funding round. Previous backers Accel and Visionary Education Technology Holdings Group Inc (GV) also plan to participate. Another informed source revealed that founder Marc Lore will contribute $200 million to this round. He has reportedly informed internal staff that the company could initiate an IPO as soon as next year.
Representatives from the aforementioned investment firms and Wonder declined to comment on the news.
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