GrubHub (formerly known as GrubHub Seamless) has publicly filed a registration statement for its initial public offering. The harborer of fake restaurants/online delivery service is seeking to raise an impressive $100 million with the IPO and is hoping to be listed on the stock exchange as "GRUB." A company statement reveals that the "number of shares to be offered and the price range for the offering have not yet been determined." GrubHub's "brand portfolio" includes GrubHub, Seamless, MenuPages, and Allmenus. The public filing follows reports of a confidential filing last week.
The numbers reported in the filing are staggering. GrubHub claims that as of December 31, 2013 there were 3.4 million "Active Diners." These millions of users spent approximately $1.3 billion in "Gross Food Sales" across the GrubHub platforms in 600 cities in 2013. Billions in food sales means the company generated $137.1 million in revenue last year, a 67% increase from 2012, largely due to the merger with Seamless. Check out the press release below for more:
GrubHub Files Registration Statement for Proposed Initial Public Offering of Common Stock
CHICAGO, Feb. 28, 2014 /PRNewswire/ -- GrubHub Inc., formerly known as GrubHub Seamless Inc., announced today that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. The registration statement filed today represents the Company's initial public filing pursuant to the provisions of the Jumpstart Our Business Startups Act of 2012. The common stock is expected to be listed on the New York Stock Exchange under the symbol "GRUB." The number of shares to be offered and the price range for the offering have not yet been determined.
The GrubHub Inc. portfolio of brands includes GrubHub, Seamless, MenuPages and Allmenus.
Citigroup and Morgan Stanley will act as joint book-running managers for the proposed offering.
The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to these securities may be obtained when available from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146; or from Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by telephone at 1-866-718-1649.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About GrubHub Inc.
GrubHub Inc. (the "Company") is the nation's leading online and mobile food-ordering company dedicated to connecting hungry diners with local takeout restaurants. The GrubHub Inc. portfolio of brands includes GrubHub, Seamless, MenuPages and Allmenus. The Company's online and mobile ordering platforms allow diners to order directly from approximately 28,800 takeout restaurants in more than 600 U.S. cities and London, and every order is supported by the Company's 24/7 customer service. GrubHub Inc. has offices in Chicago, New York City and London.