Market Overview

5 People Who Made Money Off Of The GrubHub IPO

5 People Who Made Money Off Of The GrubHub IPO

Shares of Grubhub (NYSE: GRUB), an online food ordering company, jumped 43 percent on its first day of trading. So, who's making money off of it?

The majority of the outstanding stock is held by investment firms, including Goldman Sachs (NYSE: GS), Warburg Pincus and Spectrum Equity Investors. But there are some individuals who are benefiting from the company's IPO:

Grubhub Insiders

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Grubhub co-founders Matt Maloney and Mike Evans each hold about 2.6 percent of the outstanding shares. Evans announced earlier this year that he plans to leave the company by June 30 to “pursue other opportunities.”

Related: Timon And Pumba Find GrubHub In The Dirt As IPO Stumbles

Pandora CEO

Pandora (NYSE: P) CEO Brian McAndrews is on the board of directors for Grubhub, and owns about 0.2 percent of the stock. McAndrews used to be a venture partner at Madrona Venture Group, which focuses on early-stage tech companies.

Aramark Executives

Former Aramark (NYSE: AMRK) CEO Joseph Neubauer has about 3.9 percent, the highest percentage of any one person. CFO L. Frederick Sutherland holds about 0.2 percent.

Aramark, a Warburg Pincus portfolio company, acquired Seamless in 2006 and made it into an independent entity in 2011. Seamless and Grubhub merged in 2013. Stocks of Aramark, a food service, facilities and clothing provider, have been trading down on Friday.

Posted-In: Brian McAndrews Joseph Neubauer L. Frederick Sutherland Matt Maloney Mike EvansNews IPOs General Best of Benzinga


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