Postmates has quietly revived its plans to go public amid a surge of food delivery deals during the pandemic

  • Meals supply firm Postmates has quietly revived plans for an preliminary public providing, folks conversant in the matter instructed Reuters on Monday.
  • Postmates confidentially filed its IPO plans with the SEC in February 2019, however did not proceed with a inventory market debut at that time.
  • However current offers within the trade, together with Grubhub’s planned merger with European supply large Simply Eat Takeaway, satisfied Postmates to maneuver forward with a public providing.
  • The sources mentioned Postmates might make its IPO registration public as early as July.
  • Visit Business Insider’s homepage for more stories.

Postmates has revived plans for an preliminary public providing following a string of dealmaking within the US on-line meals supply service sector, folks conversant in the matter mentioned on Monday.

Postmates registered its IPO confidentially with the US Securities and Trade Fee in February 2019, however didn’t proceed with a inventory market debut. Simply Eat Takeaway.com’s $7.3 billion deal to acquire Grubhub earlier this month, in addition to current fundraisings by friends, satisfied it that the time had come to press forward, the sources mentioned.

Postmates might make its IPO registration public as early as July, kicking off what is often a course of lasting solely few weeks till it goes public, the sources mentioned, cautioning that the plans are topic to adjustments in market situations.

The sources requested anonymity as a result of the matter is confidential. Postmates declined to remark.

(Reporting by Joshua Franklin in New York and Anirban Sen in Bangalore; Further reporting by Krystal Hu in New York; Enhancing by Sandra Maler)

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