{"id":51094,"date":"2022-06-15T01:40:57","date_gmt":"2022-06-15T01:40:57","guid":{"rendered":"https:\/\/harchi90.com\/marc-lores-food-truck-company-cooks-up-to-350-million-funding-round\/"},"modified":"2022-06-15T01:40:57","modified_gmt":"2022-06-15T01:40:57","slug":"marc-lores-food-truck-company-cooks-up-to-350-million-funding-round","status":"publish","type":"post","link":"https:\/\/harchi90.com\/marc-lores-food-truck-company-cooks-up-to-350-million-funding-round\/","title":{"rendered":"Marc Lore’s Food Truck Company Cooks Up to $ 350 Million Funding Round"},"content":{"rendered":"
You may not think much of the truck at the end of the street slinging carne asada and al pastor tacos for $ 1.50 a pop. But for Marc Lore, it’s a multibillion-dollar venture.<\/p>\n
On Tuesday, The Wall Street Journal <\/em>reported the former Walmart CEO secured a $ 350 million funding round – at a mouth-watering $ 3.5 billion valuation – for Wonder, his latest start-up that calls itself a “cloud kitchen on wheels.” Yeah, we’ll just call it a food truck.<\/p>\n Wonder doesn’t offer meals in a brick-and-mortar restaurant, or from a street-side food truck. It doesn’t offer delivery from a ghost kitchen via Postmates or Uber Eats, or ship meal ingredients like Blue Apron. Instead, Wonder allows users to order a food truck straight to their driveway or curbside. Chefs then whip-up meals to serve as hot and fresh as possible. Sounds appetizing, sure, but not exactly industry-breaking.<\/p>\n Still, Lore has been able to grow the business since it first fried potatoes and seared steaks in 2018:<\/p>\n Name-Brand Value: <\/strong>The funding round already feels displaced in time, more suitable to last year’s era of tech optimism and low-interest rates. “Six months ago, we would have raised at a higher valuation,” Lore told the WSJ<\/em>. We’ll just assume Wonder offers especially tasty reheated enchiladas.<\/p>\n<\/div>\nMore Than Wonder Bread<\/h2>\n
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