Founded back in 2011, Postmates soon emerged to the top of the list of food delivery startups such as UberEats and Grubhub, out of which Grubhub is already traded publicly under thicker (GRUB).
GrubHub has been losing its market share to UberEats lately, while Postmates earned the status of a unicorn startup, being valued at over 1 billion dollars, taking 10% of the market share and coming fourth in line after UberEats, Grubhub and DoorDash.
Despite having a thick competition in companies such as UberEats and Grubhub, Postmates had shown an amazing rate of growth over the past several years, covering half of the US households with food deliveries and being available in approximately 400 different cities in the US.
The company announced going public with the upcoming IPO that should be out by the end of 2019.
What to Look Forward to With the Upcoming Postmates IPO in 2019?
Thanks to some prominent partnerships that Postmates have made during the recent years of their business, such as Chipotle Mexican Grill, already traded publicly under (GMC), Postmates have come to around 400 different cities in the US, while the tech unicorn claims to have listed 65 out of 100 largest restaurants in the United States.
With the most recent private funding round that took place in January 2019, the company raised 100 million dollars, which presently places estimates for Postmates IPO at 1.85 billion dollars.
The filing was already submitted to the Securities and Exchange Commission as with the announcement that came out in February after the round of private funding that brought Postmates to the status of unicorn, which is why the exact date as well as the price per share are not yet among available information on the IPO.
As this food delivery unicorn is preparing to go public in 2019, the company is expecting to see 35% of growth in the year of 2019 based on their previous performance and the rising demand for their services.
