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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)
  • 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
  • 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
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