Tastemade gobbled up by Wonder in $90m deal

Food delivery outfit Wonder has forked out around $90m (£69.5m) to acquire culinary-focused FAST channel operator and production firm Tastemade.

Wonder said the deal would allow Tastemade, which claims to have more than 160 million followers across social media, to “build its vision of the super app for mealtime”.

It will also enable Wonder, which owns companies including food delivery service GrubHub, to create branded content, including feature-length docs.

LA-based Tastemade was launched in 2012 and produces content primarily around food and travel but has also expanded into interior design and renovations skewing content.

It operates four FAST channels that are available to more than 250 million households in 65 countries, with shows such as Forking Delicious and Andrew Zimmern’s Wild Game Kitchen. Shows from celeb chefs such as Jamie Oliver and Alison Roman also feature in its library content.

Tastemade co-founders Larry Fitzgibbon and Steven Kydd will remain with the company following the deal, which was first reported by the Wall Street Journal.

Fitzgibbon retains his chief exec role at Tastemade while adding a remit as executive vice-president of Wonder Media, advertising and content.

Kydd is now co-founder and president, head of business development and international at Tastemade. Both report to Daniel Shlossman, chief growth and marketing officer at Wonder.

Marc Lore, founder and chief exec at Wonder, said: “We’re excited to inspire consumers through world-class video storytelling across the Wonder family of brands, while enhancing our ability to deliver innovative, end-to-end advertising opportunities for brand partners.”

Fitzgibbon added that the deal “represents an incredible opportunity for both Tastemade and Wonder to leverage our strengths and elevate our storytelling and retail capabilities to new heights”.

He added: “Together, we will build a platform that seamlessly merges the joy of watching with the convenience of having dinner delivered right to the door.”

Financial details were not revealed but Tastemade had previously secured investment from companies including Liberty Media, Goldman Sachs Growth Equity and Rained Ventures, among others.