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GrubHub raises $193M in IPO, more than expected

Previewing Grubhub's IPO

NEW YORK (AP) - Investors seem ready to eat up GrubHub.

The online food delivery company has raised $192.5 million in its initial public offering, more than it expected.

GrubHub priced 7.4 million shares at $26 each, up from its expected sale of 7 million shares for $23 to $25 each. That was already an increase from its projections in March and February. And the banks managing the deal could still buy another 1.1 million shares, further boosting proceeds.

GrubHub, based in Chicago, also owns the Seamless food ordering website. The company connects nearly 29,000 restaurants with users in more than 600 U.S. cities. At the end of 2013, about 3.4 million people had placed an order through GrubHub websites in the past year.

Shares are to begin trading Friday.

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petpetdon April 03 2014 at 10:46 PM

More proof that people are too freakin lazy to cook or actually drive to a restaurant to have a meal.

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flameshoter1111 petpetdon April 04 2014 at 12:56 AM

well aren't you just as lazy when driving? perhaps walking 2 feet getting in car and going into a drive thru. why not walk?

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Kenny April 03 2014 at 8:02 PM

not easy to get it to work for the place you want

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mary April 04 2014 at 7:05 AM

I first heard of GrubHub when it appeared on my American Express statement after I lost my card. I lost it in Atlanta and someone in Washington DC ran up over $1000 in the 12 hours before I missed and reported the card. Hope they enjoyed the food. Not.

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