- 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.
Box, Seamless reportedly eying IPOs
Nov 8 2013, 15:07 ET