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GrubHub files for $100m IPO

3 Mar 2014

stock brokerage market share listedPrivate equity-backed online takeaway ordering service GrubHub has filed for a $100m IPO on the New York Stock Exchange.

The filing showed that GrubHub, which is backed by Warburg Pincus, Thomas H Lee Partners, Spectrum Equity and CCMP, saw its revenues soar 67 per cent year on year to $137.1m in 2013.

GrubHub posted a net income of $6.7m and an adjusted EBITDA of $26.3m last year and could have a market cap of over $1bn.

Citigroup, Allen & Company, Morgan Stanley, BMO Capital Markets, Canaccord Genuity, Raymond James and William Blair are acting as underwriters for the IPO, the filing showed.

The company did not disclose how many shares and at what price is plans to offer and said that it will trade under the symbol GRUB.

GrubHub was created in May last year via a merger of competitors Seamless and GrubHub.

Prior to the merger, GrubHub received funding from venture capital firms including Lightspeed Ventures, Mesirow Financial, Benchmark Capital, Greenspring Associates and DAG Ventures.

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