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PE-backed takeaway business Seamless merges with rival GrubHub

20 May 2013

tacos-mexican-foodPrivate equity-backed online takeaway ordering service Seamless has created a $100m a year revenue business by merging with competitor GrubHub.

The business, which is backed by firms including Warburg Pincus, Thomas H Lee Partners, Spectrum Equity and CCMP, becomes a combined US company which sent about $875m of gross food sales to local takeaway restaurants in 2012.

Seamless CEO Jonathan Zabusky said, “By bringing together some of the industry’s most celebrated products, including Seamless’s award-winning iPad app and GrubHub’s innovative Track Your Grub, we will be able to drive more value to all company stakeholders.

“Both companies also share a strong commitment to provide world-class service to restaurants, diners and corporate clients.

“This merger is an opportunity to glean the best from each platform and improve upon what we bring to all of our partners.”

Zabusky will serve as president of the newly-merged business, with GrubHub co-founder taking the role of CEO.

Last August Kite Ventures and Kreos Capital helped double the investment in Germany-headquartered online food ordering business  Delivery Hero by taking part in a $49m financing round, while earlier this month Foodpanda raised $20m of expansion capital.

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