Seamless food delivery stock1/13/2024 ![]() ![]() GrubHub certainly seized upon investor anticipation. “Investor sentiment around I.P.O.s is still very strong.” “When most offerings go out, they’re way oversubscribed,” Mr. “The pipeline is really strong,” said Neil Dhar, the United States leader of PricewaterhouseCoopers’s capital markets practice.Īs the stock markets continue to boom, aided by low interest rates, investors have continued to clamor for I.P.O.s as mutual funds and other financial players chase growth. Include those for the online storage provider Box and the sports camera maker GoPro. could set records for size - are expected to debut this year. Several big names - including the Alibaba Group, the Chinese online commerce giant whose coming I.P.O. So far, the pace of new offerings shows little sign of slowing down. The United States has proved even busier, with 64 companies raising $10.6 billion in the most active first quarter since 2000, according to data from Renaissance Capital. ![]() Companies worldwide raised $47.2 billion in new stock sales during the first quarter, up 98 percent compared with those in the same periodĪ year earlier, according to Thomson Reuters. One thing is clear: The market for I.P.O.s has reached levels unseen in years. IMS offering was priced at $20 a share, raising $1.3 billion. GrubHub priced its offering on Thursday night at $26 a share, surpassing an already increased price range and raising $192.4 million for itself and investors who plan to sell.The But they are also hoping to avoid the stumbles that have bedeviled a few high-profile issuers in recent weeks, most prominently King Digital Entertainment, GrubHub, as the merged companies are now called, and IMS Health, a big provider of prescription data, are two of the latest companies hoping to seize upon investorĭemand for new stock offerings. In the intervening 14 years, the market has waxed and waned, but the business of initial public offerings is bustling once more, just as the company, which merged last year with its rival GrubHub, is finally preparing its own stock listing. This is directed towards online food delivery service companies and other web platforms and applications that specialize in things like niche organic food delivery or accept Bitcoin as payment.When the online food-ordering company Seamless was founded in late 1999, it was too young to take advantage of the era’s fever pitch for newly public start-ups. Industry reports show that $350m was invested in food technology in 2012, a 37% increase from the amount raised in 2011. Offices in New York, Chicago, Salt Lake City and London are set to remain open. This combined company's name is expected to be announced after regulators approve the merger. Both companies are currently independent and privately held. The tech blog said rumors of a GrubHub initial public offering have been circulating since last fall, and this latest development does not necessarily pose a threat to that consideration. Tech Crunch on Friday reported on rumors that the companies would merge. ![]() In October 2011, the company acquired Menupages. Under Zablusky's leadership, Seamless underwent a significant rebrand and changed from SeamlessWeb to Seamless in July 2011. And though both companies have a regional focus, they each have expanded their brand focus into major US cities. GrubHub is based in Chicago and has a more dominant hold on the midwest, while Seamless has a defining grasp on New York, where the company is based. GrubHub purchased the parent company of Campusfood and Allmenus in September 2011. In five rounds of venture financing, the team acquired $84.1m in investment funding. ![]() Maloney co-founded GrubHub with chief operating officer Mike Evans in 2004. Maloney will serve as the new company's CEO, and Seamless chief executive Jonathhan Zabusky will be the company's president. "By combining our complementary restaurant and diner networks, we are well positioned for continued growth in a massive market." "GrubHub and Seamless share a common goal to generate more business for local takeout restaurants while providing the best possible service to diners," said Matt Maloney, the GrubHub co-founder and chief executive, in a statement. In a release, the long-time competitors said the merger presents an opportunity to expand the reach of their services, encourage quicker and more diversified product development and improve growth opportunities. ![]()
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