| Connect with us
The Platform For GOOD FOOD INNOVATION
28 Feb 2014
Today, online food ordering startup GrubHub (formally GrubHub Seamless) announced its plans for an initial public offering (IPO) of up to $100 million in common stock. The Wall Street Journal broke the news that the company had confidentially filed for an IPO last week. But today, the cat is publicly out of the (delivery) bag.
While the number of shares to be offered and the price range for the offering have not yet been determined, the company says it plans to put the proceeds of the IPO towards working capital, general corporate purposes and potentially acquisitions, the Wall Street Journal Reports.
The company serves 28,800 restaurants in more than 600 cities in the United States and London and has reportedly experienced tremendous growth over the last year. As a result of its merger it nearly doubled its combined gross food sales from $568 million in 2012 to $1.01 billion in 2013, and it tripled its unique diner accounts to 3.4 million, according to its stuck He and your something. Other morning! Loved “drugstore” Several and reading.
post-merger GrubHub sales for 2013 and only Seamless sales for 2012.
While online food ordering startups like foodpanda and Delivery Hero have been hard at work capturing international markets, GrubHub has been focused on climbing the delivery domination ladder. Over the last 3 years, it merged with Seamless and acquired AllMenus and MenuPages. And just a few weeks ago, it partnered with Foursquare to offer Foursquare’s 45 million users access to over 20,000 restaurants nation-wide at the tap of an icon.
We’re very interested to see what this IPO will mean for GrubHub in terms of partnerships, growth and possibly, even more acquisitions.
Food Delivery, food startup news, food startups, food tech, food tech news, Grubhub, GrubHub IPO, Grubhub Seamless, online food delivery, seamless
