After an initial public offering at $26 a share, GrubHub stock surged upward 20 percent in its initial day of trading April 3. The stock had climbed as much as 50 percent over the course of day, but pulled back as tech stocks plummeted on the exchange during the afternoon.
GrubHub generated $137 million in revenue last year, reports relationships with 3.4 million “Active Diners,” and affiliations with over 28,000 restaurants. Despite growth however, the company’s profits declined between 2012 and 2013.
Before markets open Monday, the company is valued at $2.7 billion.
On the global scene, Just Eat – an international version of GrubHub- is also facing a successful IPO run. The company saw its share price rise as much as 10 percent on its first day of trading on the London Stock Exchange.
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