GrubHub CEO Matt Maloney tells Jim Cramer how the company is differentiating itself in a crowded food ordering industry.
GrubHub will continue investing in its long-term strategy and differentiate itself in the crowded online food ordering space even as its stock faces pressure, CEO Matt Maloney told CNBC.
GrubHub's stock is down about 9 percent in 2019 and off more than 50 percent from its all-time high in September.With a $6.4 billion market cap, the company is working to defend its position against other delivery services like Uber Eats, Square's Caviar, DoorDash, and Postmates. Grubhub has responded to increased competition with marketing campaigns and technology updates, which has cut into margins, Cramer said.
Grubhub partners with restaurants, who subsidize part of the transaction fee, Maloney said. That gives them access to customer data. He said it keeps prices cheaper on the platform. That includes the $200 million partnership with Yum Brands, the parent of Taco Bell, KFC, and Pizza Hut, nearly a year ago.
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