GrubHub, Groupon Shares Rise On Food Delivery Partnership

By Wallace Witkowski Markets MarketWatch Pulse

Shares of GrubHub Inc. and Groupon Inc. both advanced in the extended session Monday after the companies announced a food delivery partnership deal. GrubHub shares rose 3% to $47.50 after hours, while Groupon shares rose 3.7% to $3.90. The partnership will allow Groupon users to order food delivery from GrubHub's 55,000 participating restaurants and allow them to redeem Groupon deals. Also, GrubHub will acquire 27 of Groupon's OrderUp food delivery markets under deal terms that were not disclosed.

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