GrubHub and Potbelly, IPO watch

( January 7, 2013 )

Why we're watching: Online food delivery startup GrubHub and Potbelly Sandwich Shop reportedly have separately hired bankers for potential initial public offerings in 2013.

GrubHub co-founders Matt Maloney and Mike Evans declined to confirm the report. They said they are focused on rolling out new products, including Track Your Grub, which allows customers to track the progress of a delivery.

If GrubHub does go public, the offering should generate millions for the co-founders and two Northbrook-based investors: Origin Ventures, led by Bruce Barron and Steve Miller, and Randy Rissman's Leo Capital Holdings.

Meanwhile, Potbelly founder Bryant Keil told BusinessWeek in 2007 that he had "toyed with the idea of an IPO but always shied away" because he was able to raise enough money from private investors, such as Starbucks Chairman Howard Schultz. As of 2007, Potbelly reportedly had secured $100 million through five rounds of financing.

Potbelly CEO Aylwin Lewis and Keil declined to comment .

Photo: Chicago Mayor Rahm Emanuel chats with Matt Maloney, CEO and founder of Grub Hub, at an event in September to announce a committment by companies to create more than 2,000 new jobs in Chicago. (Nancy Stone/Chicago Tribune)

Comments (0)

Add comments | Discussion FAQ

Currently there are no comments. Be the first to comment!

Comments are filtered for language and registration is required. The Times makes no guarantee of comments' factual accuracy. Readers may report inappropriate comments by clicking the Report Abuse link next to a comment. Here are the full legal terms you agree to by using this comment form.