Wonder has hired a new CFO to help it prepare for an initial public offering.
Gabrielle Scheibe Rabinovitch joins the fast-growing food hall/delivery company from payment processor Worldpay, where she was CFO for more than two years. Before that, she spent nearly eight years at PayPal, including two as CFO.
Wonder said that adding Rabinovitch is part of its plan to become “IPO-ready” by early next year. Founder and CEO Marc Lore has previously said the company expects to go public in March 2028.
Though Rabinovitch’s background is in payments rather than food, Wonder valued her experience leading the finance teams for two large companies. PayPal is publicly traded, while Worldpay went private shortly before she joined. Notably, she helped guide Worldpay's $24 billion sale to Global Payments, which closed in January. She is Wonder’s first CFO since the departure of Kelley Morrell last May.
New York-based Wonder operates a chain of multi-restaurant food halls that are designed for delivery and pickup. It also owns the Grubhub delivery service and the meal kit company Blue Apron.
Backed by more than $2 billion in private funding, Wonder has expanded rapidly over the past two years. It now has more than 100 locations on the East Coast and recently announced plans to enter Texas early next year.
Its goal is to offer consumers a convenient source for meals, with its dozens of proprietary restaurant concepts as well as meal kits and the Grubhub app. Operationally, it relies heavily on technology and equipment, with little cooking required in its kitchens. Meals are prepped at a central facility and shipped to its stores where they are finished by employees.
Wonder has long-term plans to automate more of the work in its locations and to use AI to help customers select meals based on their nutrition needs. It's also looking to make more acquisitions, including mid- to large-size restaurant chains.
As of May, the company was reportedly valued at more than $7 billion.
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