T. Rowe Price Buys Stake in GrubHub Seamless

GrubHub Seamless said Tuesday that Baltimore-based investment firm T. Rowe Price has acquired a stake in the newly merged company. No financial terms were disclosed. Backed by Origin Ventures, Amicus Capital, Benchmark, DAG Ventures, Lightspeed Venture Partners and Spectrum Equity Investors, GrubHub Seamless is an online and mobile food ordering company.


CHICAGO, Aug. 20, 2013 /PRNewswire/ — GrubHub Seamless, the nation’s leading online and mobile food ordering company, today announced that strategies managed by T. Rowe Price, the Baltimore-based investment manager that manages more than $600 billion in assets, have become shareholders in the newly merged company through a private secondary sale.
The T. Rowe Price shareholders, led by Portfolio Manager Henry Ellenbogen, gained an ownership stake in the company following the close of the GrubHub Seamless merger transaction by purchasing some shares from early investors. Financial terms of the sale were not disclosed.
“We are thrilled to add T. Rowe Price to our valued network of strategic stakeholders, further strengthening our position in the industry,” said Matt Maloney, GrubHub Seamless CEO. “Given their impressive track record of successfully investing in high growth, scalable businesses, we will no doubt benefit from their insights as we continue building our restaurant network, attracting new diners and generating profitable growth.”
“We are excited to become a shareholder of GrubHub Seamless,” said Ellenbogen. “The foundation laid by both companies prior to the merger positions the combined organization for incredible growth in a largely untapped market.”
About GrubHub Seamless
GrubHub Seamless is the nation’s leading online and mobile food-ordering company dedicated to connecting hungry diners with local takeout restaurants. GrubHub Seamless owns a portfolio of brands that includes GrubHub (www.grubhub.com), Seamless (www.seamless.com), MenuPages (www.menupages.com) and Allmenus (www.allmenus.com). The organization’s free online and mobile ordering platforms allow diners and 4,000+ corporate businesses to order directly from approximately 25,000 takeout restaurants in more than 500 U.S. cities and London, and every order is supported by the organization’s 24/7 customer service. GrubHub Seamless is a privately held company with offices in Chicago, New York City, Salt Lake City and London.