BILLIONAIRE EX-WALMART EXEC MARC LORE
IS NOW THE CEO OF A FOOD DELIVERY START UP THAT WILL COOK GOURMET MEALS OUTSIDE YOUR DOOR
Billionaire ex-Walmart exec Marc Lore is now the CEO of a food delivery company, Wonder. Wonder runs mobile kitchens that specialize in preparing gourmet meals outside your door.
The billionaire ex-Walmart executive announced via LinkedIn on Tuesday that he has taken the decision to go “all-in” on Wonder, a food delivery startup he previously funded. Lore is designated as founder, chairman, and CEO of Wonder Group which has two business arms; Wonder, a mobile kitchen entity, and Envoy a more traditional food delivery company.
Since its take-off last year, Wonder has garnered popularity in the U.S.A. Through a smartphone application, you could call Wonder to cook for you. Wonder will arrive close to your house with its purple-themed food truck and cook gourmet meals for you.
The startup which used Westfield, an affluent town 20 miles from Manhattan as a testing ground for its brand of food delivery is making advanced steps with Lore becoming the CEO of Wonder Group.
The flavor Wonder’s operation lies in the fact that it prepares gourmet food right outside your house rather than prepare They arrive well prepared to make your meals which are “fired, finished and plated in our mobile kitchens just steps away from your door,” Lore wrote.
In a LinkedIn post where the news was announced, Lore wrote: “At Wonder, we envision a future where anyone can easily access the world’s best food- anytime, anywhere.”
He added: “And while we are focused on providing delicious food at affordable prices in the present, we’re equally passionate about creating a future where our food is even more nutritious and our company more sustainable.
Lore is well known for his passion for founding startups and is the majority owner of Wonder. Way back in 2005, Lore co-founded Quidsi, the parent company of Diapers.com. He sold the company to Amazon six years later for $500 million. After a short stint at Amazon, Lore founded Jet.com, an e-commerce competitor which he sold to Walmart in 2016 for $3.3 billion.
Lore started Wonder Group in 2018 while he was an e-commerce executive at Walmart. CNBC reported in May that Lore and his brother, Chad were investors in the company called Wonder and that Scot Hilton, another ex-Walmart executive will remain Wonder’s CEO while Lore will oversee the entire group. Scot Hilton has been an ally and partner of Lores since Diapers.com’s days.
Lore said that Wonder will provide everything from family-style meals to salads to burgers and steaks and that it works with “top chefs” to create proprietary menus.
Wonder began operating in stealth mode in Westfield, New Jersey, earlier this year, and CNBC reports that the company is presently operating 60 mobile food trucks. Starting next year, the company plans to expand to Westchester County, New York, as well as parts of Connecticut, New Jersey, and New York City.
Lore told CNBC that Wonder is planning to have up to 1300 mobile kitchens by the end of 2022 and wider coverage in the future.
Wonder Group has raised venture capital from investors including NEA, Accel, GV. General Catalyst and Bain Capital Ventures. It has raised more than $500 million to date according to an insider report.
Lore is on the move to redefine the food delivery business and experience. He is on course to provide Americans with their dream meals at their doorstep, be it snacks or full-course meals.
In May, CNBC reported that Lore’s and Hilton’s involvement in Wonder was when the company launched its stealth operation in the affluent town of Westfield, New Jersey.
“It really is a one-stop-shop for all cooked food,” Lore said in a Zoom interview. “And we think there’s a real chance to have a winner-take-all in this market… You don’t really need another app.”
Hilton who had been a lifelong business partner of Lore’s says that his vision for Wonder is to offer U.S families freshly cooked meals from top chefs across the country. Currently, Wonder partners with select restaurants owners which include Bobby Flay and Jonathan Waxman in order to have exclusive rights to recreate items on their menu which people also like to order.
“Wonder in short is a food and tech company,” said Hilton in an interview. “It’s an on-demand home dining.”
The advantage of Wonder, the mobile kitchen is that customers are able to have their meals piping hot, a requirement many people desire.
Wonder finishes the final meal prep inside the mobile kitchens. Each Wonder truck has one trained chef on board and represents only one restaurant.
Wonder is well set for the task of delivering on the demand meals. Ingredients are prepped and packaged at a large central kitchen before they are distributed to small kitchen joints where the wonder trucks access the ingredients throughout the week.
Currently, Wonder is in alliance with 17 restaurants, serving 17,000 households in New Jersey.
Lore is well known for his lofty project, Telosa since leaving his post at Walmart this year. He is projecting that Telosa will be a 9.5 million person futuristic city where its citizens will have equal access to education, healthcare, and transportation. He is focused on building this city and achieving his aims. Lore describes the city as a combination of equality and capitalism, or “equities”. The city is expected to cost $25 billion for the first phase, with the total cost surpassing $400 billion.
With visions crossing borders, Lore is set for the future.