Box, Seamless reportedly eying IPOs

|By:, SA News Editor

With Twitter having just delivered the most successful tech IPO in a year that has seen plenty, the number of hot startups reportedly looking to go public is quickly swelling. Reuters reports enterprise cloud storage/file-sharing upstart Box has hired banks for a 1H14 IPO, and TheDeal reports online food delivery/pickup provider Seamless is planning an IPO that could happen in late 2014 or early 2015.

Box has reportedly hired Morgan Stanley, Credit Suisse, and JPMorgan for an offering that could raise up to $500M; that suggests it might be aiming for a $3B+ valuation. The company has a long list of blue-chip clients, as well as partnerships with Salesforce and SAP (both of whom own minority stakes). It raised $125M last year at a valuation reported to be in the $1.2B-$1.5B range.

Seamless, which merged with online delivery/takeout rival GrubHub in late 2012, is reportedly set to post 2013 revenue of $200M (+40% Y/Y). At the time of the merger, Seamless and GrubHub were processing a combined 130K daily orders from 25K restaurants in 500 U.S./U.K. cities.

TheDeal observes Seamless has "become a de facto caterer for law firms and financial services institutions, which order massive spreads to cover a floor's lunchtime needs."

The WSJ reported on Wednesday mobile payment-processing giant Square is talking with banks about a 2014 IPO.