GrubHub Stock Falls as Facebook Advances Food Delivery Initiatives

Shares of GrubHub (GRUB) were lower over 1.5% during the final hour of trading on Friday following a TechCrunch report that said Facebook (FB) has made advances to enter into the food delivery space.

On the main Facebook page on both web and mobile, a new option called "Order Food" is premiering to select users, TechCrunch reported. 

GrubHub spokeswoman Sandra Glading told CNBC that the company still feels it has "the broadest, best restaurant network in the space."

"And while we've always been open to exploring partnerships that leverage our scale, and drive a positive experience for our diners and our restaurants, we're constantly innovating to evolve the ordering experience," Glading said.

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