GrubHub (GRUB) Sees IPO Price of $20 to $22/Share

GrubHub Inc. (NYSE: GRUB) filed an amended registration with the U.S. Securities and Exchange Commission for an initial public offering of its Common Stock. The company plans to sell 7.03 million shares and sees an offering price of $20 to $22 per share. The company plans to list on the New York Stock Exchange (“NYSE”) under the symbol "GRUB." The offering is being made via Citigroup, Morgan Stanley, Allen & Company LLC, BMO Capital Markets, Canaccord Genuity, Raymond James, and William Blair. 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." GrubHub is the leading online and mobile platform for restaurant pick-up and delivery orders, which we refer to as takeout. The amended filing can be viewed here.

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