Startup Food Chain

After $2.67B GrubHub IPO, VCs Are Hungry For Food Delivery Apps

(photo via Lucius Kwok))

Since GrubHub Seamless went public with a valuation of $2.67 billion, venture capitalists are racing to find the next hit food delivery app for their portfolios.

According to the report on the CB Insights blog, investments in food tech in the first quarter of 2014 (Q1) were the highest they’ve been in five years. Over $200 million went to food and grocery apps during those three months, which was the biggest VC investing boom in over a decade.

Most of these are small, local apps that focus on a particular set of stores and services, whereas GrubHub and Seamless are nationwide giants with a combined 25 years under their belts. The two companies merged last year, and served over three million customers nationwide in 2013 alone. Read More

IPO Party

Box CEO Shows Up On Quora To Appease Troll

Box CEO and co-founder Aaron Levie. (photo: Getty Images)

Cloud storage company Box is headed toward an IPO, and everyone got their first look at their S-1 filing last week. The prognosis is simple: Box has about another year left on its cash reserves, and going public is their best shot at floating a few extra years while they’re in the red.

And of course, as haters are wont to do, one curious Quora user took the opportunity to take shots at Box CEO Aaron Levie. Read More

ATwitter

The Bling #Ring: Twitter Hits the New York Stock Exchange Today

Here it is. (Photo: Getty Images/Andrew Burton)

Under the blessing of Sir Patrick Stewart, the highly anticipated Twitter IPO joined the party on the New York Stock Exchange. After initially pricing itself at $26 a share, TWTR immediately popped to $45.10, which puts the company at a $25 billion valuation.

CNBC reports that more than 30 million shares changed hands in the first half hour of trading. Shares quickly hit $50, before settling below that. Read More

Linkages

Booting Up: Twitter’s IPO Is Today But Don’t Expect Any ‘Lame or Douchey’ Parties

Subtle. (Photo: Twitter)

Twitter’s IPO is opening at $26 a share with 70 million shares up for grabs. That puts the company’s valuation at $18.1 billion. [New York Times]

But some analysts are wary the stock might “moonshot” at open explode to $40 or higher, which nobody wants because, hi, Facebook. [CNBC]

Twitter employees aren’t planning any big bashes because they “don’t want to come off lame or douchey.” If you weren’t invited to anything, just say so you guys! [AllThingsD]

There’s absolutely no pressure on the New York Stock Exchange to perfectly execute today’s trading as the entire world watches. [USA Today]

All the questions you were afraid to ask about the Twitter IPO are answered here. [Guardian]

Linkages

Booting Up: Even a Billion Dollars Isn’t Cool Edition

So close to this, you guys. (Photo: Pinterest, duh)

Actually, being in the billion dollar startup club kind of sucks. [New York Times]

Any person with children who purchases a computer in the U.K. will be forced to apply anti-porn safety controls to it, because there’s absolutely no way kids who want to look at porn will be able to get around that. [Daily Mail]

Cisco balls so hard they just dished out $1.2 billion in cash for Meraki, a wifi startup. [TechCrunch]

How did nerds impact the election? Turns out 30,000 Redditors registered to vote after President Obama linked to a voter registration page in his AMA. [The Atlantic]

According to U.S. search results, Americans care more about Twinkies than the Israel/Gaza conflict. We are all the worst. [Virtus Machina]

considering the options

A Massive Amount of Facebook Shares Are Unlocking, and the Market Seems to Like It

Mark Zuckerberg ringing Nasdaq's opening bell on the day of Facebook's IPO. (Photo: CBS)

The total number of Facebook shares available is about to increase by almost double, and the market seems to like it. The stock price is up nearly 6 percent in the first minutes since the market opened, defying conventional wisdom that prices should fall when a lockup ends.

What gives? It may be that investors have already accounted for the influx of new shares. Read More

Dynasty

Mitt Romney’s Grandkids Made More Money on DoubleClick Than Most of You

Why are you jogging in a polo, Mitt? (Photo: flickr.com/marcn)

As anyone who’s paid any attention over the last six months will undoubtedly already know, Mitt Romney has about five dollars more than God. Consequently, the man does things like set up trust funds for his children and grandchildren, which has enabled the Romney clan, as a whole, to sidestep paying quite a lot of taxes. And that’s why there are little Romneys scampering about who probably did better at Bubble 1.0 than many of you.

According to Bloomberg News: Read More