NEW YORK (TheStreet) --
1.) GrubHub (GRUB - Get Report) is a clear leader in its industry. It was founded 10 years ago and has over 28,000 restaurants connected to its app. It is also reaches over 600 cities.
Today, its IPO is expected to raise $192 million for the company, at a valuation near $2 billion:
At the IPO price, Grubhub will have a valuation of about $2B. Or almost 15x last year's revenue $GRUB http://stks.co/s0AqH -- Gordon Bowman (@gordonbowman)
Apr. 3 at 09:26 PM
2.) There might be huge demand for the GrubHub IPO. The company had initially planned to price shares at $23, but several recent developments reveal that they are now offering 7.4 million shares at $26 per share.
Citigroup (C) and Morgan Stanley (MS) are the joint bookrunners in this IPO:
GrubHub prices upsized IPO at $26, above the $23-$25 range $GRUB $IPO #IPO http://stks.co/r0Az0 -- Renaissance Capital (@IPOtweet)
Apr. 3 at 06:57 PM
3.) The GrubHub IPO could offer several clues into the strength of the market. Remember, the S&P 500 (^GSPC) is still barely up 2% this year.
In addition, there are several more IPOs happening today as well. How will GrubHub hold up? Five9 (FIVN), Opower (OPWR), and IMS Health (IMS) are all also expected to IPO today:
TGIPOFriday. 4 debuts set for today. $FIVN priced below range. $IMS in middle of range. $OPWR at high end of range. And $GRUB above range. -- Paul La Monica (@lamonicabuzz)
Apr. 4 at 08:12 AM
At the time of publication, the author held no positions in any of the stocks mentioned.
This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.