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Food-ordering service GrubHub went public in style today, enjoying a bump of more than 40 percent after its premiere on the New York Stock Exchange.
Just before 9 a.m. PT, the stock was floating above $36, up more than $10 from the company’s IPO price of $26.
GrubHub, which trades under the symbol GRUB, wasn’t the only tech IPO success story this morning.
Call center software player Five9′s stock hit $8.43, 20.5 percent above the $7 IPO price it had set. Energy-data company Opower was up more than 20 percent. And Healthcare data company IMS Health was up more than 13 percent.
That doesn’t even include other tech companies that hit public markets today. Tarena International and Corium also debuted.
But GrubHub was ahead of all those.
Not once, not twice, but three times the company has moved the goalposts for the amount of money it sought to raise in its IPO. It looks like that internal bullishness could pay off.
Last year GrubHub gobbled up $6.7 million in net income off $137 million in revenue.
There are plenty more tech IPOs to look out for this year, including Airbnb, Box, Dropbox, and New Relic.
GrubHub is the nation's leading online and mobile food ordering platform that shows diners local restaurants available for delivery or pick up. Available in more than 300 cities across the nation, GrubHub features more than 13,000 onli... read more »
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