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Seamless grubhub ipo11/11/2023 ![]() GrubHub’s S-1 filing indicated that it had 680 employees at. The company said it plans to use proceeds from the offering for working capital and other general corporate purposes, and it may use some to acquire or invest in "complementary" businesses, products, services, technologies or other assets. GrubHub merged with its biggest competitor, Seamless, in August to connect more than 28,000 restaurants across the U.S. ring, with the public filing of its prospectus Friday morning. The company's 2013 net income declined almost 15 percent to $6.75 million, even as revenue soared 67 percent to $137.1 million. Grubhub has officially thrown its hat into the I.P.O. ![]() Orders placed from mobile devices jumped to 43 percent of orders during the fourth quarter, up from about 20 percent two years earlier, GrubHub said. The service has grown as diners develop a preference for placing food orders online, rather than by phone, and increasingly by tapping out orders on their mobile phones. GrubHub coordinates takeout orders for independent restaurants. Groupon's shares have since regained some ground, closing at $8.31 Friday. Shares sank as low as $2.63 a year later amid disappointing results, and its CEO was later fired. For example, Chicago-based Groupon's November 2011 IPO was priced at $20. This rate of promiscuity markedly increased over the past several years, with ~40% of Grubhub’s customers now spending on the DoorDash platform, as well as 25% on UberEats, and 14% on Postmates.People keeping an eye on tech startups will be eager to see whether GrubHub can avoid the missteps of some high-profile predecessors. In early 2018, just 7% of Grubhub’s customers were also on DoorDash, 13% on UberEats, and 5% on Postmates. It boasts 2013 revenue of 137.1 million, which includes 12 months of sales generated on the Seamless platform plus about 5 months of sales generated on the GrubHub platform after the completion. GrubHub said it had net income of 6.75 million in 2013, a decline of 15 percent year over year, even though sales climbed 67 percent, fueled in part by the merger with Seamless. We zoomed in on the customer behavior of the market’s primary incumbent, Grubhub, specifically looking at what percent of Grubhub’s customers have been spending money on competitor platforms over the years. ![]() While the food delivery market is indeed characterized by shifting user preferences, DoorDash has been the beneficiary platform to date. ![]() Consumers have a propensity to shift to the lowest-cost provider and could use more than one local logistics platform.” “The markets in which we operate are intensely competitive and characterized by shifting user preferences, fragmentation, and frequent introductions of new services and offerings…In addition, within our industry, the cost to switch between offerings is low. Grubhub has a 3.50 base depending on location, plus mileage. (Note: Uber’s acquisition of Postmates reportedly closed on 12/1/20). When DoorDash filed for an IPO last month. The Chicago-based company would raise 176 million by offering 7 million shares if it prices at the high end of the new range. Its share growth came mainly at the expense of Grubhub and other (smaller) players, while UberEats and Postmates’ share remained largely flat over the past three years. GrubHub on Tuesday raised the proposed deal size for its upcoming IPO. GrubHub set a higher-than-expected price for its initial public offering on Thursday, while also disclosing it plans to sell more shares than expected. Once GrubHub Seamless, the combined company is the result of a merger last year. The share of food delivery spend on the DoorDash platform reached 48% (= 46% + Caviar’s 2%) as of October 2020 an impressive ~35 point increase since January 2018 (the S-1 references 17% share in Jan ‘18 growing to 50% in Oct ‘20). GrubHub co-founder and CEO Matt Maloney is selling just less than 500,000 shares, or about one-fifth of his stake. local food delivery logistics platforms is even greater in suburban markets, where we currently have 58% category share.” DoorDash S-1 local food delivery logistics platforms, which is 24 percentage points more than our next closest competitor…Our category share lead over other U.S. population and have 50% category share among U.S. We are proud to reach over 85% of the U.S. Our merchant-first approach…has propelled us to the leading position among U.S. GrubHub’s website is easily accessible by both desktop and mobile, ensuring the consumer can order whenever and wherever he/she is hungry. “We have experienced rapid growth since our founding.
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