Wonder, a food startup created by Marc Lore, has confidentially filed for an initial public offering, the company announced Thursday.
Founded in 2018, Wonder operates roughly 170 brick-and-mortar locations across the U.S. The company delivers menu items from more than two dozen restaurant concepts through a vertically integrated app. Some locations feature branding from celebrity chefs.
Starting Nov. 17, Wonder plans to launch Wonder Create, a service allowing influencers, entrepreneurs and brands to pay $10 monthly to start their own restaurant business based out of a Wonder location and earn a portion of order revenue.
Wonder has raised more than $3 billion in venture funding. The company spent at least $1 billion on acquisitions including delivery service Grubhub, meal kit brand Blue Apron and delivery and logistics provider Relay. In its Series D fundraising round earlier this year, the company reached a pre-money valuation of $9 billion.
Lore told CNBC in September that IPO proceeds would fund additional acquisitions and support the company's goal of making food more accessible. Lore previously founded Diapers.com and Jet.com, which he sold to Amazon and Walmart.
Wonder will enter an IPO market facing headwinds. Weak consumer sentiment has weighed on restaurant stocks, and market volatility has created a shaky IPO environment for companies across industries.