IE 11 is not supported. For an optimal experience visit our site on another browser.

Online Food Delivery Company GrubHub Places Order for IPO

<p>Online food delivery company GrubHub orders up an IPO to raise $100 million.</p>
/ Source: The Associated Press

Online food delivery company GrubHub plans to raise up to $100 million through an initial public offering.

The startup, founded in 2004, did not disclose how many shares would be offered in the IPO or the projected price range in a regulatory filing on Friday.

The company said it plans to use the proceeds for working capital and other general corporate purposes. It may also use part of the proceeds to acquire or invest in complementary businesses, products, services, technologies or other assets.

GrubHub made its name catering to college students and through its quirky social media activities. In August it completed a combination with rival Seamless for an undisclosed amount. Its other brands include MenuPages and Allmenus.

The Chicago company, formerly known as GrubHub Seamless, connects more than 28,000 restaurants with diners in more than 600 U.S. cities. It had 3.4 million active diners at the end of last year. An active diner is considered a unique diner account that has placed an order in the last year.

GrubHub's stock is expected to list on the New York Stock Exchange under the "GRUB" ticker symbol.