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GrubHub files public S-1, looking to raise $100M

  • In its public S-1, online food delivery/takeout leader GrubHub states it's looking to raise $100M under the symbol GRUB. The offering's underwriters: Citi, Morgan Stanley, Allen & Co., BMO, Canaccord, Raymond James, William, Blair.
  • GrubHub, busy in recent months integrating with merger partner Seamless (the deal closed in August), had 2013 revenue of $137.1M, and net income of $6.7M. Adjusted EBITDA was $38.1M.
  • The company had 3.4M active diners at the end of 2013, and averaged 135K+ revenue-generating orders per day (referred to as "Grubs") during the year.
  • GrubHub mostly partners with independent restaurants rather than chains. It currently supports 28K restaurants across 600 U.S. cities.
  • Previous: GrubHub confidentially files for IPO
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