As an external investor why would you be on that ride for a second time? Uber has demonstrated that they are not able to deploy capital in a sustainable way to acquire market share in ride hailing, or with UberEats. As most companies that grow through acquisition fail to deliver material gains - why would the acquisition of GrubHub fair any better?
Probably because Grubhub was marginally profitable until 2018/2019, until both UberEats and Doordash started to barge in throwing fresh VC money. Grubhub never made a lot of money though, so it's a little unclear how much like end state monopoly would be worth. https://www.macrotrends.net/stocks/charts/GRUB/grubhub/net-i...
