GrubHub Seamless files confidentially for IPO: Report
Online food delivery service GrubHub Seamless has filed confidentially to go public as soon as the first half of this year, the Wall Street Journal reported on Thursday.
The company has met with investment banks but remains uncertain how much it could raise via an initial public offering, the Journal cited the sources as saying.
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Several Internet consumer companies are expected to go public this year, spurred partly by Twitter's successful IPO in November and a buoyant stock market.
GrubHub was not immediately available for comment.
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Chicago-based GrubHub merged with larger New York-based rival Seamless last year to expand into multiple U.S. cities. Before the merger, Seamless executives said the company was on track to process $1 billion in food orders annually, out of which it would take a small cut.
GrubHub, backed by T Rowe Price among other fund and private equity investors, processes online food orders for some 28,000 restaurants across 600 cities.