GrubHub, an online portal for food delivery service from approximately 28,800 restaurants in the US, announced terms for its IPO on Monday. The Chicago, IL-based company plans to raise $148 million by offering 7.0 million shares (43% insider) at a price range of $20 to $22. At the midpoint of the proposed range, GrubHub would command a fully diluted market value of $1.8 billion.
GrubHub, which was founded in 1999 and booked $137 million in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol GRUB. GrubHub initially filed confidentially on December 23, 2013. Citi and Morgan Stanley are the joint bookrunners on the deal.
