Summary:

GrubHub raises $200 million as it debuts on the New York Stock Exchange. The Chicago company is the largest portal for online food takeout and delivery orders in the U.S.

GrubHub IPO
photo: GrubHub

Online and mobile food-ordering company GrubHub on Friday completed its initial public offering, raising $200 million as it debuted on the New York Stock Exchange under the ticker symbol “GRUB.” The IPO doubled its original capital target of $100 million, and its shares, priced last night at $26, took off in morning trading, increasing 45 percent.

The Chicago startup has been growing rapidly in the last few years, expanding into new markets both organically and through a series of acquisitions, most notably its merger with Seamless last May. The company essentially supplies a one-stop portal for food delivery and takeout orders, aggregating 20,000 menus in 500 cities.

GrubHub processed $1.3 billion in food orders in 2013, averaging 135,000 daily “grubs”, and it boasts 3.4 million unique users. While it started out as an online portal, it’s seen a huge shift of its business to its mobile. Now 43 percent of all orders are placed from its smartphone and tablet apps or from mobile browsers.

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