The IPO for GrubHub Inc. (NYSE: GRUB) opened for trading at $40 after pricing 7,405,614 shares at $26 per share
, above the expected $23-$25 range. Shares have since backed down to $37.87, up 45.7%.
, above the expected $23-$25 range. Shares have since backed down to $37.87, up 45.7%.
The offering is being made via Citigroup, Morgan Stanley, Allen & Company LLC, BMO Capital Markets, Canaccord Genuity, Raymond James, and William Blair.
, Canaccord Genuity, Raymond James, and William Blair.
GrubHub is the leading online and mobile platform for restaurant pick-up and delivery orders, which we refer to as takeout.
and mobile platform for restaurant pick-up and delivery orders, which we refer to as takeout.
Brief financial summary from the company: "In 2013, we generated revenue of $137.1 million, representing a 67% increase from 2012. Our revenue growth has been driven primarily by increasing adoption of our platform by restaurants and diners, with 3.4 million Active Diners (as defined herein) as of December 31, 2013, and the inclusion of results from the GrubHub Platform. $26.3 million of the increase in revenue and 1.9 million of the increase in Active Diners were due to the inclusion of results from the GrubHub Platform following the Merger Date. In 2013, our net income was $6.7 million and our Adjusted EBITDA was $38.1 million."
Source: streetinsider.com
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