Online and mobile food ordering company Grubhub Inc. on Friday said it is launching into to the ride-sharing business with a new product extension called Gruber. When customers need and request a ride, one of Grubhub's delivery drivers will show up and drop them off before delivering someone else's food, the company said in a news release. Grubhub is entering a space already dominated by the likes of Uber, but that is seeing more and more new entries. Shares of Grubhub are up 3.8% in the year so far, outperforming the S&P 500 Index, which is up less than 1%.
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