GrubHub (NYSE: GRUB) is a leading online and mobile food ordering service. Stripes Group is an investor in Seamless which merged with GrubHub in 2013.
Founded in 1999 and headquartered in New York City, Seamless is a web-based platform for ordering meals and catering from local restaurants. Seamless was founded as a corporate ordering solution for overtime meals, supplemented with billing and invoicing automation, focused only on the NYC market. The Company was acquired in 2006 by ARAMARK with an intent to focus on leveraging corporate relationships. However, around the 2010-11 timeframe, management realized there was a significant opportunity to target the consumer segment and sought a financial partner to help capture the consumer market.
Stripes Group was excited by the opportunity to partner with Seamless, as there was an opportunity to invest aggressively in what was already working: mobile customer acquisition, growing the restaurant network, expanding to new geographies, and further expanding in New York. Shortly after investing in 2011, Stripes leveraged its in-house recruiting resources to build-out the team including placing a CTO. Stripes also supported increased marketing and customer acquisition efforts, and advised and supported Seamless’ acquisition of Menupages, an online local menu directory. Today, Seamless is the world’s leading online food ordering service processing more than $1 billion food orders a year with more than 25,000 restaurant partners across more than 500 cities.
In August of 2013, Seamless merged with GrubHub to expands its geographical presence across the U.S. The combined companies, now known as "GrubHub Inc.", work with over 28,000 restaurants and serve consumers in more than 600 cities. In April of 2014, GrubHub completed an Initial Public Offering on the NYSE trading under the ticker symbol "GRUB".