Box, Seamless reportedly eying IPOs

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.

Comments (2)
  • SoldHigh
    , contributor
    Comments (991) | Send Message
    From the perspective of retail investors, TWTR is hardly a success.


    Everyone who bought day 1 is already down 7% to18%.


    The only ones who made money were the Big Clients of the underwriters who got in at the offering offer and traders who timed it right for scalps.
    8 Nov 2013, 05:53 PM Reply Like
  • Elevator Music
    , contributor
    Comments (28) | Send Message
    I also don't understand why the media gloated over it's 70% rise in the first day.


    That didn't happen. The stock was first accessible at $45.10, and it closed at $44.90. Nobody got a chance to buy it at $26. So it in fact dropped in it's first day of trading, and sunk on it's second.
    9 Nov 2013, 09:13 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs