GrubHub and Seamless said their investors "will both have significant representation on the combined company's board of directors." GrubHub and Seamless, while they have been competitive in cities such as Chicago for several years, have different historical strengths. The startup was launched in 2004 and is one of Chicago's most high-profile startups, having grown rapidly and raised $84.1 million in venture capital through five rounds of funding. Evans and his co-founder Matt Maloney were two hungry software engineers working at when they hatched the idea for GrubHub. Evans said "I don't feel the need to specify a headquarters." GrubHub co-founder and Chief Executive Matt Maloney will be CEO of the new company, while Seamless CEO Jonathan Zabusky will be president.
The new company will have offices in Chicago, New York, Salt Lake City and London. Evans said no one will be laid off as a result of the merger.
GrubHub, which moved to new offices at the Burnham Center in the Loop last year, employs about 350 people and Seamless has more than 300 employees. The companies said they have yet to determine the name of the combined entity and make other branding decisions.
"I'm excited about the larger number of diners available to restaurants and finally, the combined products for the two companies makes for a stronger offering." Financial terms of the transaction were not disclosed. "I'm excited about three things: I'm excited about the expanded restaurant network that our diners will be able to use," GrubHub co-founder and Chief Operating Officer Mike Evans, who will be COO at the combined company, said in an interview. They have operations in more than 500 cities in the U.S. The companies said they collectively processed about $875 million in food sales last year via their website and mobile applications. GrubHub and New York-based Seamless connect diners to restaurants that offer takeout and delivery, taking a cut of transactions processed through their technology platforms. Chicago-based food ordering startup GrubHub is merging with its rival Seamless, creating a company with more than $100 million in revenue and a combined network of more than 20,000 local takeout restaurants across the U.S.
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