Meta's AI Leaders Focused on Beating OpenAI's GPT-4, Internal Messages Reveal
Internal messages unsealed in a court case show Meta's AI executives obsessed with surpassing OpenAI's GPT-4 model, despite releasing open AI models.
Taylor Brooks
Naspers' European-listed subsidiary Prosus has agreed to acquire Amsterdam-based Just Eat Takeaway.com for $4.3 billion, a move that strengthens its position in the global food delivery industry. The all-cash offer of $22.02 per share represents a 49% premium to Just Eat's three-month volume-weighted average price.
The deal is part of Prosus CEO Fabricio Bloisi's broader strategy to diversify growth beyond the company's early investment in Chinese gaming giant Tencent Holdings Ltd. "Prosus sees an opportunity to accelerate growth at Just Eat Takeaway, leveraging its strong industry experience to innovate and drive efficiencies," the company said.
If approved by regulators, the acquisition would create the world's fourth-largest food delivery group. Prosus has built a formidable global portfolio in food delivery, particularly outside Europe. It fully owns iFood, Latin America's largest food delivery platform, and holds a 28% stake in Delivery Hero, a global delivery company. It also owns 4% of Meituan, the world's largest food delivery business, and 25% of Swiggy, an Indian food and grocery delivery platform that recently went public.
Just Eat Takeaway operates in 17 countries, reporting a gross transaction value of $28.5 billion and an adjusted EBITDA of $498 million in 2024. The company acquired U.S.-based Grubhub for $7.3 billion in 2020 but offloaded it last month for just $650 million.
"We believe that combining Prosus's strong technical and investment capabilities with Just Eat Takeaway's leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders," Bloisi said in the statement.
The acquisition is expected to drive growth and innovation in the food delivery industry, with Prosus aiming to leverage its expertise to accelerate growth at Just Eat Takeaway. The deal is subject to regulatory approval and is expected to close in the coming months.
The acquisition marks a significant milestone in the global food delivery industry, with Prosus solidifying its position as a major player in the market. As the industry continues to evolve, the deal is likely to have far-reaching implications for consumers, drivers, and partners alike.
With the acquisition, Prosus is poised to expand its global footprint, drive innovation, and create value for its stakeholders. As the company continues to execute its growth strategy, it will be interesting to see how the deal shapes the future of the food delivery industry.
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