As red-blooded Americans, we love fast and easy takeout food. GrubHub is hoping we love it to the tune of $1.72 billion. That's what the food-delivery app expects to be worth in the latest mega-valuation in the tech industry. Just days ago, I told you about Airbnb's audacious plan to raise enough funds to value it at $10 billion. But could these apps really be worth such massive amounts of money? Forbes has more on the GrubHub IPO:
On Monday morning, GrubHub released a revised prospectus, revealing that the company would be offering 7 million shares at a price between $20-22 per share. GrubHub hopes to raise just shy of $180 million through the offering, which would value the company at over $1.72 billion.
I'm a little concerned about these runaway valuations and acquisitions worth tens of billions. It reminds me a lot of the last big tech bubble. We all know what happened to the Dot-coms back in 2000. Click here to read more about the GrubHub IPO on Forbes.